We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
U.S. stocks closed almost unchanged on Tuesday as investors geared up for the tech heavyweights to announce their quarterly results. Also, tepid results from a few big companies weighed on stocks. The Dow ended marginally higher, while the Nasdaq and S&P 500 slightly lower.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) gained less than 0.1% or 3.36 points to close at 33,984.93 points.
The S&P 500 declined 0.1% or 0.90 point to finish at 4,186.72 points after hitting a all-time high of 4,187.62 points in the previous session. Utilities and health care were the biggest losers.
The Utilities Select Sector SPDR (XLU) declined 0.8%, while the Health Care Select Sector SPDR (XLV) fell 0.6%. Seven the 11 sectors of the benchmark index closed in negative territory.
The tech-heavy Nasdaq lost 0.3% or 48.56 points to close at 14,090.22 points, after having recorded its all-time closing high of 14,138.78 points in the previous session. Shares of Netflix, Inc. (NFLX - Free Report) declined 0.9%. Netflix carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The fear-gauge CBOE Volatility Index (VIX) was down 0.45% to 17.56. A total of 9.7 billion shares were traded on Tuesday, lower than the last 20-session average of 9.9 billion. Decliners outnumbered advancers on the NYSE by a 1.04-to-1 ratio. On Nasdaq, a 1.24-to-1 ratio favored declining issues.
Investors Look Forward to Quarterly Results
Investors geared up for the busiest earnings week on Tuesday as a slew of companies are scheduled to come up with their quarterly results. On Tuesday, tepid results from Tesla, Inc. (TSLA - Free Report) and 3M Company (MMM - Free Report) , somewhat weighed on stocks.
It has so far been a robust earnings season but not that haven’t translated into big gains in equities. Instead, companies that are actually trying to capitalize on reopening of the economy have been benefiting lately. The mixed sentiment on Tuesday, with investors waiting for the tech heavyweights to report their quarterly earnings, left stocks near unchanged.
Fed Starts Policy Meeting
Investors are also closely watching the Fed’s two-day meeting that started on Tuesday. Fed Chairman Jerome Powell is expected to keep his stance unchanged about interest rate, which is unlikely to rise until the inflation surpasses the Fed’s 2% target.
Economic Data
The Conference Board said on Tuesday that consumer confidence in April jumped to a 14-month high of 121.7 from 109 in March.
In other economic data, Case-Shiller 20-city home price index rose 11.9% in February on a year-over-year basis. This is the index’s biggest increase in 15 years.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Stock Market News for Apr 28, 2021
U.S. stocks closed almost unchanged on Tuesday as investors geared up for the tech heavyweights to announce their quarterly results. Also, tepid results from a few big companies weighed on stocks. The Dow ended marginally higher, while the Nasdaq and S&P 500 slightly lower.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) gained less than 0.1% or 3.36 points to close at 33,984.93 points.
The S&P 500 declined 0.1% or 0.90 point to finish at 4,186.72 points after hitting a all-time high of 4,187.62 points in the previous session. Utilities and health care were the biggest losers.
The Utilities Select Sector SPDR (XLU) declined 0.8%, while the Health Care Select Sector SPDR (XLV) fell 0.6%. Seven the 11 sectors of the benchmark index closed in negative territory.
The tech-heavy Nasdaq lost 0.3% or 48.56 points to close at 14,090.22 points, after having recorded its all-time closing high of 14,138.78 points in the previous session. Shares of Netflix, Inc. (NFLX - Free Report) declined 0.9%. Netflix carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The fear-gauge CBOE Volatility Index (VIX) was down 0.45% to 17.56. A total of 9.7 billion shares were traded on Tuesday, lower than the last 20-session average of 9.9 billion. Decliners outnumbered advancers on the NYSE by a 1.04-to-1 ratio. On Nasdaq, a 1.24-to-1 ratio favored declining issues.
Investors Look Forward to Quarterly Results
Investors geared up for the busiest earnings week on Tuesday as a slew of companies are scheduled to come up with their quarterly results. On Tuesday, tepid results from Tesla, Inc. (TSLA - Free Report) and 3M Company (MMM - Free Report) , somewhat weighed on stocks.
It has so far been a robust earnings season but not that haven’t translated into big gains in equities. Instead, companies that are actually trying to capitalize on reopening of the economy have been benefiting lately. The mixed sentiment on Tuesday, with investors waiting for the tech heavyweights to report their quarterly earnings, left stocks near unchanged.
Fed Starts Policy Meeting
Investors are also closely watching the Fed’s two-day meeting that started on Tuesday. Fed Chairman Jerome Powell is expected to keep his stance unchanged about interest rate, which is unlikely to rise until the inflation surpasses the Fed’s 2% target.
Economic Data
The Conference Board said on Tuesday that consumer confidence in April jumped to a 14-month high of 121.7 from 109 in March.
In other economic data, Case-Shiller 20-city home price index rose 11.9% in February on a year-over-year basis. This is the index’s biggest increase in 15 years.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>