The Dow Jones Industrial Average struggled briefly in positive territory as stocks struggled back. Twitter (TSLA) has jumped after Tesla (TSLA) CEO Elon Musk and Twitter founder Jack Dorsey attacked the Twitter board amid a property battle.
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Shares of the LPL Financial (LPLA) fell after Charles Schwab (SCHW) missed earnings reviews. Goldman Sachs (GS) was the top blue chip.
Several stocks tried to break despite challenging market action. Murphy Oil (MUR) and Laredo Petroleum (LPI) topped the buying points.
Volume was lower on both the New York Stock Exchange and Nasdaq compared to the same time on Thursday, the last trading day after Friday.
Meanwhile, the yield on the benchmark 10-year government securities rose by about five basis points to 2.86%. Oil also jumped, as West Texas Intermediate rose more than 1 percent to more than $ 108 a barrel. Expectations of growing demand in China are raising prices.
Nasdaq Rally; Fight with small caps
Nasdaq struggled from negative territory, but fell 0.1% at the end of trading. Shares of Lam Research (LRCX) were among the best performers, rising 3%.
The S&P 500 also fell 0.1% after short-term trading. Synchrony Financial (SYF) performed best outside of Twitter, earning nearly 7% after the company’s earnings report.
Overview of the US stock market today
Index Symbol Price Profit / Loss% change Dow Jones (0DJIA) 34483.95 +32.72 +0.09 S&P 500 (0S & P5) 4397.67 +5.08 +0.12 Nasdaq (0NDQC) 13358.2.09 (BDJIA) 13358.20.09 (BDII.6.09) 137582.09. 09.09. FFTY) 36.48 -0.06 -0.16 Last update: 15:04 ET 18.04.2022
The S&P sectors were mixed. Energy and finances shone brightest, while health and basic consumer goods were the worst areas.
However, the little caps struggled to fight the bear’s attack, with Russell 2000 falling 0.5%.
Growth stocks also struggled to find traction. Innovator IBD 50 ETF (FFTY), the leader in stock growth, fell 0.2%.
Dow Jones wins as a shareholder in Goldman Sachs
The Dow Jones industrial average fell 0.1% after a short rise.
Goldman Sachs shone brightest on the Dow Jones today. It increased by about 3%. Intel (INTC) also performed relatively well, rising by about 2.4%.
Walt Disney (DIS) is doing the worst, falling by about 2%. His closest rival for the position, Johnson & Johnson (JNJ), was 1%.
Twitter stocked up as Elon Musk, Dorsey Slam Board
Shares of Twitter came under scrutiny after Elon Musk, who is trying to buy the company, and Twitter founder Jack Dorsey attacked the board.
Musk tweeted that when Dorsey leaves the board this year, he “collectively will own almost no shares!”
“Objectively, their economic interests are simply not in line with shareholders,” Musk said.
And in a separate message Monday, he said that the collective salary on board “will be $ 0 if my offer succeeds, so that’s [around]$ 3 million a year saved right there. “
Twitter founder Jack Dorsey, who is ready to leave the board after his term expires after the upcoming shareholders’ meeting, tweeted that the meetings in the boardroom “have consistently been a dysfunction of the company”.
Shares of Twitter were among the best performers on the S&P 500, rising about 6%. It is now approaching the 200-day moving average, according to MarketSmith’s analysis.
Musk has offered 54.20 per share in cash to buy the rest he doesn’t own, giving him 100% of the company, which he says is “the best and latest offer” in a letter to Twitter chairman Brett Taylor.
The board is trying to fight Musk by taking the so-called poison pill, which makes it difficult for Tesla’s CEO to buy the company.
Shares in the charts, such as Charles Schwab
Charles Schwab’s shares were shattered after a loss. It remained lower and fell by almost 9%. He gave a sell signal by breaking his 200-day moving average in bulk.
The discount broker missed both the top and bottom rows. The 77-cent EPS missed analyst reviews by 84 cents, according to FactSet, while revenue of $ 4.67 billion was well below the expected $ 4.83 billion.
Costs were also higher than expected. As the retail boom subsides as people return to work, the company is challenged to maintain its growth rate.
Leaderboard shares of LPL Financial, which provide a platform for brokerage and investment advisory services to financial advisers, were affected after the report. Shares were out of session, but remained down about 1.5%. It has been extended above the buying point of 191.08.
These stock test records
The energy sector was the hottest sector so far in 2022, and several other names in the field stood out, making upward moves.
Murphy Oil is applicable after shares exploded from a rare uptrend, according to MarketSmith’s analysis. The buying point here is 43.30. The line of relative strength has just reached a new peak, which is an encouraging sign.
Profits are expected to grow by 233% in 2022, before rising by another 39% next year. Big money has grabbed stocks in recent weeks.
Laredo Petroleum slid back under his entrance at 88.40 after leaving the base with a cup with a handle. As institutional interest is also strong here, it may be one to add to the watch list.
Please follow Michael Larkin on Twitter at @IBD_MLarkin for more information on stocks and growth analysis.
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