Tag: SellOff

Technology And Energy Shares Lead Broad-Based Selloff

Key Takeaways:

  • Tech gets hammered again as regulatory news hurts sector
  • Rotation from tech into other sectors appears to be losing steam

The air keeps coming out of the tires.

A market that rode hard all summer on the FAANGs and semiconductors is making a loud hissing noise as those high-flyers lose traction.

All summer, investors heard warnings that if Tech’s party settled down, the broader market would take a hit. September reminds us of that as it appears on track to be the first losing month since March and the worst month of September in 18 years.

All the FAANGs played serious defense Wednesday in the second of three sessions this week where Tech spent most of the day dragging everything else down. The Tech weakness was joined by a rout in the Energy sector, where companies staggered amid worries about shutdowns in Europe and

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Sell-off May Just Be Getting Started

DAX 30 / CAC 40 Technical Highlights

  • DAX 30 breaking out of wedge formation
  • CAC 40 also breaking out similar pattern

DAX 30 breaking out of wedge formation

The narrowing range in the DAX is finally starting to break with today’s rout (down over 3% at the time of this writing). As long as the breakdown sustains there could be significant losses ahead. Looking lower, the first meaningful level of support comes in around the 12200 area.

The 200-day is working sideways almost in straight-line fashion, clocking in at 12195. It should stay steady around that level for a while given its lack of any kind of trajectory. It is in near confluence with the July 30 low at 12253. We could see a bounce off confluent support, but that may be all it is as global markets could continue to sell off.

Looking beyond aforementioned support the next

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US STOCKS-Indexes drop more than 1% as tech sell-off continues

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Tesla rises after PT hikes ahead of “Battery Day”

* Oracle slips as Trump to block U.S. downloads of TikTok

* Indexes down: Dow 1.1%, S&P 500 1.4%, Nasdaq 1.5% (New throughout, updates prices, market activity and comments to late afternoon)

Sept 18 (Reuters) – Major U.S. stock indexes were down more than 1% in afternoon trading as technology shares sold off again and investors kept worrying about rising coronavirus cases.

Apple Inc, Microsoft Corp, Amazon.com Inc and Alphabet Inc were among the biggest drags on the S&P 500 and Nasdaq, while the S&P 500 technology index , was on track for a third day of losses.

Volatility has the potential to be higher, with Friday marking the quarterly expiration of U.S. stock options, stock index futures and index option contracts, known

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U.S. Stocks Mixed After Yesterday’s Sell-Off In Tech Shares

Tech Stocks In Focus

S&P 500 futures are mixed in premarket trading after yesterday’s sell-off in leading tech stocks.” data-reactid=”20″S&P 500 futures are mixed in premarket trading after yesterday’s sell-off in leading tech stocks.

Facebook, Amazon, Apple, Google left their recent trading ranges and gained downside momentum. These stocks are gaining some ground during the current premarket trading session so S&P 500 should have a chance to rebound today.” data-reactid=”21″Facebook, Amazon, Apple, Google left their recent trading ranges and gained downside momentum. These stocks are gaining some ground during the current premarket trading session so S&P 500 should have a chance to rebound today.

The big tech was leading the S&P 500 on its way up, and the market needs support from these mega-cap stocks to continue its upside trend.

Initial Jobless Claims remained at high levels at 860,000 while Housing Starts declined by 5.1%

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Stocks close lower, notching third straight weekly loss as tech-led sell-off intensifies

MARKET SNAPSHOT



a man standing in front of a building


© JOHANNES EISELE/AFP via Getty Images


U.S. stock indexes closed lower Friday, notching a third straight weekly loss, amid uncertainty about a fresh round of fiscal stimulus from Washington, concerns about tensions between the U.S. and China, and worries about the sluggish pace of economic recovery.

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The day’s trading action also marked quadruple witching, which refers to the simultaneous expiration of single-stock options, single-stock futures, and stock-index options and stock-index futures, which has traditionally been associated with some intraday volatility.

How did major benchmarks trade?

The Dow Jones Industrial Average (DJIA) closed at 27,657.42, down 244.56 points or 0.9%. The S&P 500 index (SPX) shed 37.54 points, or 1.1%, to close at 3,319.47. Friday’s session marked the first time the broad index closed below its 50-day moving average, 3,343.42, since April 23. The Nasdaq Composite Index (COMP) fell 116.99 points, 1.1%, to close at 10,793.28. For

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Stocks Fall For A Third Week In A Row As Tech Sell-Off Continues

Topline

The market finished lower in volatile trading on Friday, posting a third straight week of losses as investors continued to unload shares of large tech companies.

Key Facts

The Dow Jones Industrial Average was down 0.88%, nearly 250 points, on Friday, while the S&P 500 fell 1.12% and the tech-heavy Nasdaq Composite dropped 1.07%.

The major averages posted a third straight week of losses, their longest weekly losing streaks since last year.

Tech stocks again dragged the market lower: Shares of Apple, Amazon and Google-parent Alphabet all fell by 2% or more, while Facebook lost nearly 1%.

Shares of Oracle, which is trying to buy a minority stake in TikTok-parent ByteDance, declined 0.3% after the Trump administration said it would block all TikTok and WeChat downloads in the United States on Sunday.

Market sentiment also took a hit

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Why one stock-market bull thinks it’s ‘pretty absurd’ to compare tech selloff to 2000’s dot-com bust

This isn’t Pets.com 2.0.


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History isn’t repeating itself when it comes to the highflying technology stocks sector, despite a sudden round of jitters following the Nasdaq’s quick tumble into correction territory this month after a breakneck rally off the pandemic-induced March lows, according to one longtime Wall Street bull.

“After a 62% price run-up in technology stocks since the March lows, all it took was a three-day, 11.4% selloff to shake the confidence of investors and incite renewed fears of a severe and prolonged price decline comparable to the dot-com bubble,” said Brian Belski, chief investment strategist at BMO Capital Markets, in a Thursday note.

Read: The only path to a sharply higher stock market ‘is a bubble like the late 1920s and 1990s,’ says analyst who called rally off March lows

Belski said he found the “constant comparisons to the early 2000s pretty absurd given the significant

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Why one stock-market bull thinks it’s ‘pretty absurd’ to compare tech selloff to 2000’s dot-com bust

THE TELL

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History isn’t repeating itself when it comes to the highflying technology stocks sector, despite a sudden round of jitters following the Nasdaq’s quick tumble into correction territory this month after a breakneck rally off the pandemic-induced March lows, according to one longtime Wall Street bull.

“After a 62% price run-up in technology stocks since the March lows, all it took was a three-day, 11.4% selloff to shake the confidence of investors and incite renewed fears of a severe and prolonged price decline comparable to the dot-com bubble,” said Brian Belski, chief investment strategist at BMO Capital Markets, in a Thursday note.

Read: The only path to a sharply higher stock market ‘is a bubble like the late 1920s and 1990s,’ says analyst who called rally off March lows

Belski said he found the “constant comparisons to the early 2000s pretty absurd given the significant

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US STOCKS-Nasdaq futures rise as tech selloff calms

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* FAANG group of stocks lead bounce among tech-related firms

* Oracle falls as Trump to block U.S. downloads of TikTok

* PG&E Corp slips as finance chief resigns

* Futures up: Dow 0.07%, S&P 500 0.17%, Nasdaq 0.54% (Adds comments, updates prices throughout)

Sept 18 (Reuters) – Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on S&P 500 and Dow futures.

Wall Street’s three main indexes bounced earlier this week as investors bet on a loose monetary policy by the Federal Reserve, but gains petered out in the absence of firm details on the central bank’s stimulus plan.

The S&P 500 and the Nasdaq have also

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Nasdaq futures rise as tech selloff calms

By Shreyashi Sanyal and Devik Jain



FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE)


© Reuters/Lucas Jackson
FILE PHOTO: A worker cleans the floor of the New York Stock Exchange (NYSE)

(Reuters) – Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising coronavirus cases and a patchy economic recovery weighed on S&P 500 and Dow futures.

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Wall Street’s three main indexes bounced earlier this week as investors bet on a loose monetary policy by the Federal Reserve, but gains petered out in the absence of firm details on the central bank’s stimulus plan.

The S&P 500 <.spx> and the Nasdaq <.ixic> have also come under pressure from investors rotating out of high-flying tech-related stocks and into industrial and transportation firms.

But premarket gains on Friday were led by Apple Inc , Alphabet Inc , Amazon.com Inc , Microsoft Corp , Facebook and Tesla Inc , which

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