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 (SQNXF - Free Report) - +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 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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