Dow Jones is awaiting a rate hike by Fed Chairman Powell. Chigg falls into the apocalypse of Ai’s world

The Dow Jones Industrial Average fell sharply at noon as the Federal Reserve meeting started on Tuesday. The S&P 500 and Nasdaq showed similar declines of 1.5% at 12 noon EST. Vertex Pharmaceuticals (VRTX) f Uber (UBER) rose after the earnings beat.


The number of vacancies fell to 9.59 million in March, down 1.6 million from December, according to the Employment Opportunities and Employment Turnover Survey report.

Factory orders for March rose 0.9% versus February’s decline of 0.7%. Commercial aircraft orders accounted for the rise.

The odds of a 25 basis point raise fell to 78.5% in the CME FedWatch Tool. This will bring the effective interest rate to the range of 5% -5.25%. However, the rally in June remains to be watched, with Friday’s April jobs report containing more clues.

The Russell 2000 small index is down nearly 3% per hour. Crude Oil fell over 4% to trade at $72.53 a barrel. The yield on the benchmark 10-year Treasury note fell 13 basis points, to 3.44%.

Volume on the NYSE and Nasdaq rose sharply vs. the first half of Monday as traders adjusted exposure ahead of the Federal Reserve.

Stocks are moving outside of the Dow Jones today

Arista Networks (ANET) sold off after a strong quarter that included a conservative outlook for the second half. ANET trimmed its base and fell below the 50-day line on Tuesday.

rambus RMBS volume rose as it regained the 50-day line after earnings. Stocks are in a buy zone above the entry level of 46.26.

Chegg (CHGG) fell more than 40% after the education provider warned that OpenAI’s ChatGPT was a threat to growth. First-quarter revenue at the San Diego software company fell 7% year-over-year. CHGG expects second-quarter revenue of $175 million to $178 million.

Vertex Pharma (VRTX) maintained its full-year forecast after beating estimates. VRTX shares extended after a four-day rally.

Uber (UBER) stock jumped after a strong quarter that saw bookings rise 19%. The IBD Leaderboard Options game offers entry at $37.68. Tesla (TSLA) rose a few marks after raising auto prices in the United States, Canada, China and Japan. The stock is still below the 50-day line.

earnings platform

Tuesday, advanced micro devices (AMD), stronghold (F) The solar play Levent (LTHM) will release quarterly results.

AMD is testing support at the 50-day line, near the entry at 89.04. Ford and Levent fell ahead of earnings.

Wednesday, Sonron (Being), Albemarle (ALB), Qualcomm (QCOM) f etsy (ETSY) will release earnings.

Technology leader Dow Jones apple (AAPL) wraps up a busy earnings week Thursday. Stocks extended and are facing resistance at 182.

Stocks on watch

from Broadcom (AVGO) is flat with 648.60 buy points. Dow Jones component c. B. Morgan Chase (JPM) near entrance 141.88 of a mug with a handle.

Please continue Ramakrishnan On Twitter for more stock market news today.

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