The Dow Jones Industrial Average tumbled sharply in the current market, while the Nasdaq took the lead below. The tech-heavy index remained deep below the key 50-day moving average.The Dow continued to sell after hitting its high earlier this week, dropping more than 600 points.
Stock market today
At the end of the day, the major indices were trading near the day’s lows.The Nasdaq composite was down 2.7%, while the S&P 500 traded about 2.1% lower.The Dow Jones industry lost 2% .The small Russell 2000 index was down 3.6%. Volume was higher on the NYSE and lower on the Nasdaq compared to Tuesday’s close, according to preliminary data.
Overview of the US stock market today
|index||The symbol||price||Profit / loss||% Change|
|S&P 500||(0S and P5)||4077.30||-74.80||-1.80|
Last Update: 3:14 p.m. ET 5/12/2021
Fears that rising inflation led investors to sell on Wednesday as the Labor Department reported that general consumer prices jumped 4.2 percent faster than expected in April. This is the highest inflation rate since September 2008.Economists are expecting a 3.6% increase, the core CPI, excluding food and energy, is up 3% year over year.
The 10-year bond yield rose sharply to 1.69%. The 10-year yield at the end of Tuesday was 1.62%.
The broad market turnover continues as big tech and growing stocks continue to come under pressure. For growth stocks, the Innovator IBD 50 ETF (FFTY) is down more than 3% .The ETF is below the 50-day line as the stock sells out nearly 7% this week. PLBY (PLBY), Marine Max (HZO) and Green Brick Alliance (GBRK) interferes with ETFs with losses of more than 6%.
The Nasdaq and S&P 500 added another release date Tuesday. And the growing number of underwriting suggests investors should consider reducing disclosure.
In the Dow Jones industry, many blue chips have lost more than 2%. Home Depot (HD) and Honeywell (HON) is the leader in the loss of about 4% per department. Chevron (CVX) and Merck (MRK) is one of the few beneficiaries on the Dow and is the lead in the turnaround with roughly 0.6% profit per piece.
Elsewhere Nike (NKE) traded more than 2 percent as stocks were testing the 50-day line, the sports footwear and apparel giant got an upgrade from Jefferies on Tuesday. The chart remains four months in total, with 148.05 points of buy.The shares remain 9% away from the buy zone.
Home Depot remained below the 328.77 level of its tightening in three weeks. The home improvement giant is due to report results in Q1 on May 18.Analysts expect earnings to rise 44 percent to $ 2.99 per share, from 21 percent in revenue rising to 34.2 billion. dollar
Goldman Sachs (GS) was down 1.7 percent as the stock closed below the cup base buy zone with a 356.95 buy point, according to IBD MarketSmith chart analysis. The stock maintains a strong 86 RS rating and a perfect 99 composite score.
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