Key market indexes traded near session lows midday Wednesday, with the Dow Jones Industrial Average down 250 points.
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The Nasdaq and the Dow Jones industrials both fell 0.7% while the S&P 500 shed 0.6% in the stock market today. Small caps tracked by the Russell 2000 were off 0.8%. Volume was mixed, lower on the NYSE but higher on the Nasdaq, vs. the same time Monday.
Among exchange traded funds, Innovator IBD 50 (FFTY) lost 1%, while the Nasdaq 100-tracking Invesco QQQ Trust (QQQ) edged down 0.6%. The IBD 50 ETF, which was down as much as 2%, is now shaping a new flat base with a 52.56 buy point.
The U.S. economy continues to recover from the Covid-19 pandemic, which triggered nationwide lockdowns over a year ago. A resurgence in cases fueled by the more contagious delta variant has been slowing down as vaccinations rise.
Globally, Covid-19 cases have topped 251 million, with over 5 million deaths, according to Worldometer. In the U.S., cases are approaching 47.5 million with more than 776,000 deaths.
Growth Stocks To Watch
Roblox (RBLX) gapped up and soared 32% in huge volume, on track for a new closing high. The video gaming platform reported Q3 results that included a 31% rise in average daily active users and average bookings per daily active user of $13.49. Roblox stock is considered a play on the emerging metaverse, a next-generation version of the internet.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 36183.73 | -248.49 | -0.68 |
| SS&P 500 | (0S&P5) | 4674.66 | -27.04 | -0.58 |
| Nasdaq | (0NDQC ) | 15872.24 | -110.12 | -0.69 |
| Russell 2000 | (IWM) | 240.62 | -1.94 | -0.80 |
| IBD 50 | (FFTY) | 51.96 | -0.32 | -0.61 |
Last Update: 12:08 PM ET 11/9/2021 |
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Riot Blockchain (RIOT) gapped above the 40.90 buy point of a cup base nested within a larger consolidation. But the stock faded back below the entry. Cryptocurrency-related stocks are rallying as the price of Bitcoin reaches record highs above $67,700. Bitcoin was trading around $66,813 midday, according to Coindesk.
But PayPal (PYPL) gapped down and dived 12% after the payments company reported mixed Q3 results. PayPal stock fell as the company’s earnings topped views, but revenue and total payment volume missed estimates. Fiscal 2022 revenue outlook came in light. PayPal stock is at its lowest level since November 2020.
Over in the IBD 50, SiTime (SITM) crashed 14% in heavy trade to breach its 21-day exponential moving average. Late Monday, the chip designer said it filed a preliminary prospectus supplement with the Securities and Exchange Commission regarding its proposed follow-on public offering of 2 million shares.
Tesla (TSLA) skidded 7% in fast turnover after a downside reversal, putting the stock on track to extend its slide for a third straight session. The stock fell 5% Monday, after Twitter users voted in favor of CEO Elon Musk selling 10% of his Tesla shares. The poll closed Sunday.
Tesla stock still remains sharply extended from a 764.55 buy…
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