After a strong February CPI helped stocks open higher on Tuesday, the major U.S. indexes slumped into the red throughout the day, with the tech-heavy Nasdaq recording the day’s biggest losses. More political turmoil, including the blockage of the Broadcom-Qualcomm merger and the firing of Secretary of State Rex Tillerson, appeared to inspire intraday volatility.
Zacks Rank #1 (Strong Buy) Top Movers
Value: Veritiv (VRTV - Free Report) - +6.8%
Growth: Square Enix - +3.7%
Momentum: Golden Minerals (AUMN - Free Report) - +4.4%
Income: Macy’s (M - Free Report) - +3.5%
Dow: 25,017.77 / -160.84 / -0.6%
Nasdaq: 7,511.01 / -77.31 / -1.0%
S&P 500: 2,765.30 / -17.72 / -0.6%
Broadcom Deal Blocked, Tillerson Fired: Are Tech Stocks In Trouble?
Washington's latest moves, including Tillerson's departure and the rejection of the Broadcom’s (AVGO - Free Report) buyout of Qualcomm (QCOM - Free Report) , could spell volatility for the technology sector.
Tesla Bulls Beware: Volkswagen Wants to Be the Electric Car King
German automotive giant Volkswagen (VLKAY - Free Report) detailed its plans on Tuesday to become one of the biggest producers of electric vehicles, vowing to ramp up production and bolster its EV-capable plants all over the world.
United Lifts Guidance: Is It Time to Buy Airline Stocks?
Shares of United (UAL - Free Report) climbed on Tuesday after the company announced that it upped its unit revenue guidance for the first quarter and provided strong full-year earnings guidance.
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