The Dow Jones Industrial Average slid 450 points Thursday in the wake of Fed Chairman Jerome Powell's speech, as the 10-year Treasury yield spiked back above 1.5%. Tesla stock dived 7%, while DraftKings briefly jumped on a deal with the UFC before reversing lower.
Among the Dow Jones leaders, Apple (AAPL) fell over 1% Thursday, while Microsoft (MSFT) moved down 0.3% in today's stock market. Visa (V) is in buy range above a new buy point.
Tesla (TSLA) looked to extend Wednesday's 4.8% drop, diving 7% Thursday. IBD Leaderboard stock DraftKings (DKNG) jumped as much as 3.5% before reversing sharply lower after announcing a deal with the UFC.
STI tumble Today???
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STI marching in steps with Uncle DOW down or up?
ReplyDeleteUsually markets consolidate & get jitters about 1 year after major stock market bottoms. E.g. 2004 and 2010.
ReplyDeleteUS banks are cheonging compared to Nasdaq & the more diversified S&P500.
With strong financials, this indicates that the economy is getting stronger. More good years (well, maybe many months LOL).
I've re-allocated a bit of my warchest back into stocks. Now overall has gone from 70:30 to 75:25.
Nasdaq almost hit -10% correction last night. Now that I've shot some bullets, maybe it will go to -15% 🤣
Dow rallies 570 points in big turnaround, Nasdaq ends wild day 1.6% higher
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