June 19, 2024

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Comprehensive up-to-date news coverage, aggregated from sources all over the world

Dow plunges as Richmond Fed president warns about it;  Virgin Galactic is fading away

Dow plunges as Richmond Fed president warns about it; Virgin Galactic is fading away

The Dow Jones Industrial Average fluctuated, falling 0.3% at the close. On Friday, Richmond Fed Chairman Tom Barkin indicated that he was willing to raise interest rates if inflation did not come down soon.


He cautioned against backing down from raising interest rates too soon.

The S&P 500 was also down 0.4%. Consumer goods and essential utilities gained at 4 p.m. ET. Health care stocks made some gains. Selected Healthcare Sector SPDR ETF (XLV) rose above the 50-day moving average this week.

The Nasdaq pared early gains to end down 0.7%. Software leaders fell, while Adobe (ADBE) And Tesla (TSLA) acquired.

Trading volume on the New York Stock Exchange and Nasdaq was higher compared to the same time on Thursday.

The Russell 2000 small scale slowed, falling 0.9%. Innovative IBD 50 (fifty) fell 0.4%.

The yield on the benchmark 10-year Treasury note rose 4 basis points, to 3.76%. Crude oil rose to $71.94 a barrel.

Stocks are moving outside of the Dow Jones today

Adobe (ADBE) after it announced its second-quarter earnings late Thursday. The company sees generative AI as increasing adoption of its products. The stock pared most of its early gains, ending up 1%.

IBD Leaderboard stock Kings (DKNG) fell more than 1% after rising earlier on news of its bid to take over PointsBet’s US business. The deal will be an all cash deal worth $195 million. Stocks fell again to test the 21-day moving average on Friday.

SpaceX competitor Virgo galaxy (SPCE) has grown exponentially as it launches plans to begin its commercial space operations later this month. But most of its early gains have faded. The stock, which rose more than 45% earlier in the day, was up 16% at the close.

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electric car maker Lordstown Motors (Riding) rose nearly 3% earlier in the day in part on news of $140 million in funding from the National Electric Vehicle Infrastructure group to install EV charging stations in Ohio. The stock closed down 0.5%.

But the apparent short squeeze among electric vehicle startups is likely to create a small rally.

Tesla competitor Nikola (NKLAIt was a strong week as well. NKLA shares have doubled this week and pared some of those huge gains on Friday. However, the stock is trading at only 1.30 a share.

Tesla stock rose nearly 2% as CEO Elon Musk met French President Emmanuel Macron at a potential second factory in Europe. Reports said plans to set up a factory in Spain are already underway.

Strong market, but prepare for a pullback; 10 stocks to watch

Focus on these stocks

in the Dow index Intel (INTC) extended its gain line after the breakout at a buy point of 33.84 on Tuesday. Cisco (CSCO) also added to gains after the breakout of 50.58 earlier this week.

on collectibles (Onon) is building support at the 50 day line. Shares of the Swiss running shoe manufacturer are in profit-taking territory from a previous buy point of 24.11, but may make a new entry. ONON is on the IBD Leaderboard Watch List. Read more: Roger Federer powered by testing at major level. Here’s how to trade ONON shares.

datadog (DDOG) in a cup with handle pattern approaching a buy point at 103.80. the Big Cap 20 Stocks are highly ranked projects and programmes group.

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Also outside of Dow Jones, Fluence Energy (FLNC) to below 26.78 points to buy it. Watch the stock to form a handle with entry at 29.55. the defect 50 The company makes energy storage products and cloud-based software for renewable energy and energy storage companies.

fedex (FDX) near a buy point at 235.81 ahead of its earnings report on Tuesday.

The US consumer confidence index improved in June to 63.9 from 59.2 in May, according to the University of Michigan’s preliminary survey. Inflation expectations were lower.

Please continue VRamakrishnan On Twitter for more stock market news today.

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