Dow Jones Falls AI Day Tesla Deck; Healthcare stock gaps | daily business investor

Major indices fell to session lows at the market close today. The Dow Jones Industrial Average is down 1.7%, at levels last seen in November 2020.


The S&P 500 trimmed some of the morning’s losses by 0.5% but lost ground once again to close 1.5% lower. The Nasdaq has been higher for some time but is down 1.5%. The Russell 2000 index, which recorded intraday gains, closed down 0.6%.

Volume on the New York Stock Exchange and Nasdaq were lower, according to early figures.

Crude oil fell about 2% to $79.64 a barrel.

The yield on the benchmark 10-year Treasury rose 6 basis points to 3.80%.

Personal consumption rose 0.4% in August after declining 0.1% in July. However, according to Peter Easley, head of portfolio management at Commonwealth Financial, the build-up of inventory in durable goods is likely to affect major retailers.

Healthcare stocks are active

There was a flurry of good news about ACURU TREATMENTS (Acrow) which is up 14% today. The stock doubled on September 13 after a study showed that its drug improves cirrhosis of the liver. The California-based biotechnology company closed a public offering of $8.8 million of common stock at $26 per share on Sept.

Intercept Pharmaceuticals (ICPT) decreased by 15% after its clinical trial failed to meet a major criterion. Dow Jones Healthcare Leaders United Health (United nations), Johnson & Johnson (JNJ) And the merck (Mrk) less than their 50 day lines.

IBD 50 shares are moving today

Among the IBD 50 stocks, the 50-day line is still a key level to watch. solar energy company Enphase (ENPH) has fallen below it 50 day streak. Vertex Pharmaceuticals (VRTX) at a flat base with a buy point of 306.05 and above the 50 day line.

a step (LRN) at the base of a cup with a buy point From 45.03, also above the 50-day line. household items maker PGT Innovations (PGTI) is up sharply and approaching a buy point at 23.46. Its relative strength line is at a 52-week high. She’s testing her streak for 50 days.

Leader of Dow Jones and largest company Warren Buffett apple (AAPL) fell sharply below the 50-day line. Occidental Petroleum (OXY), another Buffett stock, and Super Micro Computer (SMCI) They made a round trip after checkout, which is a selling sign. These stocks are under watch for new rules.

Devon Energy (DV) after forming a very deep handle in the cup with a purchase point of 75.37. Stocks are below the 50-day line.

Dow Jones stock move after earnings

nike‘s (NKE) Earnings decreased by 20% to 93 cents per share But beat estimates by a penny. Revenue of $12.69 billion was up 4% on a currency rate basis. But the leading sportswear company lowered its forecast due to its large inventory and challenging forex trading environment for its overseas operations. Shares of the Dow component are down nearly 13%.

micron (moIt failed to meet the lower expectations on Thursday and erased most of its gains on Friday. . sales $6.64 billion down 20% Annually, it lost $6.73 billion in views for the quarter ended Sept. Earnings are down a whopping 40% from a year ago to $1.45 per share.

The memory chip maker has significantly lowered its forecast for the current quarter. It now expects earnings of 4 cents per share on revenue of $4.25 billion. A year ago, it earned $2.16 per share on revenue of $7.69 billion. Top analyst Kinngai Chan raised the stock to buy from the hold Thursday.

Many tech pioneers are at multi-year lows. Dow Jones Component Microsoft (MSFT) at a level last seen in May 2021. Google Original the alphabet (The Google) at its lowest level in February 2021; nvidia (NVDA) at its lowest level in March 2021; Intel Corporation (INTC) saw this last level in August 2015, while Advanced Micro Devices (AMD) at its lowest level in July 2020. Tesla (TSLAShares were trading flat ahead of the AI ​​Day scheduled for later today.

Bitcoin is down 55.7% for the year. But on a month-to-month basis, Bitcoin has outperformed the S&P 500. The benchmark stock index is down more than 9% in September, according to IBD MarketSmith, while Cryptocurrency dropped 2.3%.

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