Stock Market Volatility: Key Support Breaks, IPOs Rally, and Retail Sales Surprise
Originally Published 2 years ago — by Investor's Business Daily
Dow Jones futures, S&P 500 futures, and Nasdaq futures are slightly higher after a damaging day for the stock market rally. The major indexes fell significantly on Tuesday due to weak China economic data, a banking sector warning, and rising Treasury yields. The S&P 500 and Nasdaq both dropped below their 50-day lines. Nvidia and Meta Platforms are finding support, while Apple, Microsoft, and Tesla are below their 50-day lines. IPOs Cava Group, dLocal, and Nu Holdings rallied late on earnings. The market rally is still under pressure, with few stocks flashing buy signals. Investors should remain cautious and monitor market direction and leading stocks.