At the close: US stocks bounce around as we wait for Micron earnings
It was an ugly day in many markets as gold, silver, bitcoin and oil were all sold hard. Stocks mostly held the line though. There were even some strong bids early in the day before it flipped to selling. At one point it looked like the selloff could get ugly but late bids cushioned the blow.
Closing changes:
- S&P 500-0.1%
- Nasdaq Comp -0.5%
- DJIA +0.3%
- Russell 2000 flat
- Toronto TSX Comp -1.0%
The main drag on the market were the memory names with WDC, STX and SNDK all down notably. Micron itself was down 2.2% while Nvidia fell 1.2%. Naturally, resource names also declined as commodity prices sank.
Overall, the advancers led the decliners as travel names were near the top of the charts. Booking Holdings rose 7% and American Airlines were up 7.9% as oil prices fell back to pre-war levels.
This article was written by Adam Button at investinglive.com.