The Dow Jones Industrial Average and the other major stock indexes fell Tuesday, with oil prices rising following an attack on Saudi Arabia by Iran-backed Houthis. Energy stocks jumped while software lagged. Meanwhile, memory-chip leader SK Hynix (SKHY) rallied on the stock market today, breaking out past a new buy point.
Stocks were under pressure in the first day of the shortened trading week, with the Dow industrials diving nearly 700 points. This equates to a 1.3% drop. Oil major Chevron (CVX) stood out with a 2% pop, putting shares back in a buy zone.
But Amgen (AMGN) plunged 9% and dropped to its 50-day moving average. It comes after a disappointing trial results for an experimental Novartis (NVS) cardiovascular treatment were seen as a negative indicator for the former firm's own fledgling heart treatment olpasiran. Novartis, not a blue chip stock, plummeted more than 13%.
The S&P 500 also felt the heat, dropping 0.4%. A majority of sectors were lower, with communication services and healthcare being hit the hardest. Energy and utilities were posting the best gains.
The tech-heavy Nasdaq composite was also being punished, falling 0.5%. Booking (BKNG) and Shopify (SHOP) lagged due to drops of more than 5% and around 8%, respectively. CoreWeave (CRWV) showed strength by rising more than 8%.
#major #rising #lagged
Stocks were under pressure in the first day of the shortened trading week, with the Dow industrials diving nearly 700 points. This equates to a 1.3% drop. Oil major Chevron (CVX) stood out with a 2% pop, putting shares back in a buy zone.
But Amgen (AMGN) plunged 9% and dropped to its 50-day moving average. It comes after a disappointing trial results for an experimental Novartis (NVS) cardiovascular treatment were seen as a negative indicator for the former firm's own fledgling heart treatment olpasiran. Novartis, not a blue chip stock, plummeted more than 13%.
The S&P 500 also felt the heat, dropping 0.4%. A majority of sectors were lower, with communication services and healthcare being hit the hardest. Energy and utilities were posting the best gains.
The tech-heavy Nasdaq composite was also being punished, falling 0.5%. Booking (BKNG) and Shopify (SHOP) lagged due to drops of more than 5% and around 8%, respectively. CoreWeave (CRWV) showed strength by rising more than 8%.
#major #rising #lagged
20 hours ago
