Finance Inquirer
No Result
View All Result
Saturday, May 28, 2022
  • Login
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
  • Submit a News Releases
Subscribe
Finance Inquirer
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
  • Submit a News Releases
No Result
View All Result
Finance Inquirer
No Result
View All Result
Home Stock Market

Nasdaq Falls For Third Straight Day; These Dow Jones Leaders Fall On Earnings

Tom Hagler by Tom Hagler
23.04.2022
in Stock Market
Nasdaq Falls For Third Straight Day; These Dow Jones Leaders Fall On Earnings
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The tech-heavy Nasdaq composite traded lower alongside the Dow Jones and S&P 500 for a third-straight day. The indexes traded near lows on Friday as investors digested hawkish comments from Fed Chairman Jerome Powell on Thursday.

X

Nasdaq Falls, S&P 500 Leads Downside

In early-afternoon trading, the Dow Jones industrials traded down 1.8%, near session lows. The index fell below support at its 200-day and 21-day lines and is testing support at the 50-day moving average. The Nasdaq has struggled in recent weeks and has remained below the other three key moving averages. The tech-heavy index held losses of 1.7%.

Elsewhere, the S&P 500 fell 1.8%, while the small-cap Russell 2000 was down 1.9%, leading the downside. Volume was lower on the Nasdaq and higher on the NYSE vs. the same time on Thursday.

The Innovator IBD 50 ETF (FFTY), a benchmark for growth stocks, traded down 2.8% and hit a five-week low as growth stocks continue to get hammered in this current market.

After hawkish comments from Fed Chair Jerome Powell on Thursday at a panel presented by the International Monetary Fund, the indexes declined and continued with negative action in today’s market. The Fed Chair noted that a “50 basis points (rate increase) will be on the table for the May meeting.”

The yield on the benchmark 10-year Treasury note slipped slightly lower to 2.9% on Friday after weeks of trading sharply higher. Meanwhile, West Texas Intermediate crude fell 1.6% after a drop earlier this week. The commodity is trading around $102 a barrel.

Dow Jones Earnings Movers

Stocks moving on earnings Friday included Verizon (VZ), which sank 6% after the company’s 2022 profit outlook came in at the lower end of previous guidance. However, on the positive side, Verizon’s Q1 adjusted EPS slightly outpaced views while revenue was on par with estimates.

Nevertheless, the Dow Jones stock sold off on Friday and gapped down. Shares officially triggered the 7% sell rule after breaking out past a 54.80 cup-with-handle buy point on Thursday.

Among other Dow Jones stocks, American Express (AXP) released Q1 2022 earnings before the market opened on Friday. Shares fell 1.3% after the credit card company beat first-quarter expectations and reaffirmed its 2022 guidance. AXP stock is 6% away from a cup-with-handle entry at 194.45. The stock slipped slightly below the 50-day moving average on Friday.

Caterpillar (CAT) underperformed in the Dow, falling nearly 3% in early-afternoon trading. The company is expected to report earnings on Apr. 28, before the market opens. Shares are trading 10% below a 146.79 buy point.

Follow Rachel Fox on Twitter at @IBD_RFox for more Nasdaq and stock market commentary.

YOU MIGHT ALSO LIKE:

IBD’s Market Outlook: A Guide To The Different Designations

Get Free IBD Newsletters: Market Prep | Tech Report | How To Invest

What Is CAN SLIM? If You Want To Find Winning Stocks, Better Know It

See IBD Stock Lists & Get Pass/Fail Ratings For All Your Stocks With IBD Digital

The post Nasdaq Falls For Third Straight Day; These Dow Jones Leaders Fall On Earnings appeared first on Investor’s Business Daily.

  • Trending
  • Comments
  • Latest
Boeing and Pfizer are among the companies and trade groups to have donated $8 million to Republicans who voted against certifying Biden’s election victory, a report says

Boeing and Pfizer are among the companies and trade groups to have donated $8 million to Republicans who voted against certifying Biden’s election victory, a report says

04.01.2022
Twitter Suspends mRNA Inventor Dr. Robert Malone

Twitter Suspends mRNA Inventor Dr. Robert Malone

29.12.2021
Anesthesiologist Salary in the USA.

Anesthesiologist Salary in the USA

24.01.2022
3 planes are flying potatoes into Japan to help tackle the country’s shortage of fries, which has caused McDonald’s to ration servings

3 planes are flying potatoes into Japan to help tackle the country’s shortage of fries, which has caused McDonald’s to ration servings

29.12.2021
Take the best photos of your life with the new vivo Y76 5G now available

Take the best photos of your life with the new vivo Y76 5G now available

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

AirPods 3 vs AirPods 2 – What’s the Difference?

AirPods 3 vs AirPods 2 – What’s the Difference?

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

Crypto Pirates launches NFT sale that provides early access to the P2E game

Crypto Pirates launches NFT sale that provides early access to the P2E game

19.05.2022
The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

19.05.2022
The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

19.05.2022
Poland also wants a little bit of Ukraine. How a little? A couple or three regions.

Poland also wants a little bit of Ukraine. How a little? A couple or three regions.

19.05.2022

Recent News

Crypto Pirates launches NFT sale that provides early access to the P2E game

Crypto Pirates launches NFT sale that provides early access to the P2E game

19.05.2022
The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

The Dow Jones is down for the sixth week in a row. The Nasdaq has lost 25% of its highs. Which stocks to buy?

19.05.2022

Categories

  • Business
  • Finance
  • Stock Market
  • Technology
  • Без рубрики

Site Navigation

  • Home
  • Contact Us
  • Submit a News Releases
Finance Inquirer

We offer multimedia features, easy channel navigation, strong social media presence and numerous engagement platforms that allow the readers to experience content anytime, anywhere, always.

No Result
View All Result
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
  • Submit a News Releases

© 2021 financeinquirer.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In