The stock market plummeted on Tuesday as Nasdaq traded more than 1%. Twitter (TWTR) continued to meet after announcing that Elon Musk would join its board.
Nasdaq shares lost 1.3% as technical shares withdrew from Monday's meeting. The S&P 500 was downgraded and lost 0.5%.
The Dow Jones Industrial Average is down 0.2%. Procter & Gamble (PG) has risen 1.5% and has returned above the 50-day moving average as stocks formed a low base. Walmart (WMT) raises a purchase point of 152.67, although the previous entry can be seen at 146.73.
The volume dropped in the NYSE and Nasdaq compared to the same period on Monday.
Twitter Adds To Its Musk Rally
Twitter added 6% after a communications company said Tesla CEO (TSLA) Elon Musk would join its board of directors. The news follows Monday's revelation that Musk received a total of 9.2% on Twitter. While Musk is on board he cannot own more than 14.9% of the typical Twitter stock, the company said in a regulatory file.
Twitter shares rose 27% on Monday with the disclosure of Musk's ownership, the biggest one-day profit in the company's history. The volume was also a record for all time. Twitter shares today rose above the 200-day moving average for the first time since Oct. 22.
Tesla stock is down 1.4% as it operates on a cup base with a purchase point of 1,208.10.
Digital World Acquisition (DWAC) is down more than 9% and is on its way to its eighth decline. Digital World is a SPAC that plans to publicly expose Donald Trump's social media company, Truth Social, which is a Twitter rival. SPAC fell 18.5% this week, after falling 11.5% last week.
Carnival Cruise, Teva Among Stock Market Movers
The Carnival Cruise Line (CCL) exceeded more than 7% after the company reported a booking number for the week of March 28-April 3. This week's book exceeded the previous seven-day record by double digits, Carnival said in a statement.
The cruise line also said 22 of its 23 ships had returned to work after the industry was hit hard by the epidemic. Stock has risen above its 50-day moving average but is still below the 200-day line.
Teva Pharmaceuticals (TEVA) extended its three-week meeting with a profit of 3.8% this morning. Barclays has developed a generic drug maker to become a obese person from the same weight and increase the target value from 13 to 11. Shava shares remove resistance at 10.25.
Innovator IBD 50 ETF (FFTY) decreased by 0.6% as most of its tech stocks dropped by 2% to 4%. Axcelis Technologies (ACSL) lost 5.6% in heavy trading, falling sharply below the 75.10 buy point where it peaked on March 17. Axcelis dropped more than 7% below the inflow, which is a trading signal.
Service Sector Jumps In March
S&P U.S. Services Purchasing Managers' Index was released at 9:45 a.m. ET with the biggest growth so far this year. The service sector gauge rose to 58 in March from 56.5 in February, although it was lower than the previous average of 58.9.
"Business operations in the major service sector enjoyed a significant reduction in anti-virus limits in March, and gained momentum after the omicron decline that marked the beginning of the year," said Chris Williamson, senior economist at S&P Global. .
Demand for services is growing so fast that a survey has seen a dramatic increase in backlogs since the study began in 2009, adds Williamson. "As factory costs increase due to rising energy prices, fuel and other commodities, as well as rising wages, prices for services are rising at an unprecedented rate. So inflation for consumers looks set to increase sharply as we get into trouble. Spring."
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Courtesy Grizler.com
