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S&P 500 and U.S. Markets Hover Near The Flatline in early Wednesday Trading -Breaking

by Mike Robinson

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© Reuters.

Daniel Shvartsman

As the holiday week went on, U.S. stock exchanges fell early Wednesday trading.

As of 1045 ET (1545 GMT), the was slightly higher. After swinging between red and green, the fell 1%. However, the pared their early losses to trade at.2%. The climbed back up to break-even. Up 102 points, or.3%, was the outstanding performer.

Reflecting the Nasdaqs slow behavior, many tech stocks fell in early trading. Nvidia, Advanced Micro Devices Inc, Tesla (NASDAQ;) and Tesla (NASDAQ.) were the top losers. These losses occurred in the aftermath of Elon Musk’s (apparently) final stock sale. Rivian Automotive Inc (NASDAQ:), fell 4.7% due to delays in the delivery of larger trucks and pick-ups. Astra Space Inc. (NASDAQ:), fell 8.8% due to news that Kerrisdale Capital, a hedge fund, had taken a position in the name. callingIt is “2021’s most dangerous space SPAC.”

Memory storage maker is on the plus side. Western Digital (NASDAQ:), traded up 6% to reach 5-month highs. Micron Technology was not far behind at 2.6%. Tractor Supply, (NASDAQ:), traded higher by 2.2% Nike Inc (NYSE) was up 1.6%. Gap (NYSE) was up 1.2%. Ross Stores Inc (NASDAQ:) Traded up 1.1% Target Corporation (NYSE) was up 1.7% in an encouraging day for retailers. Victoria’s Secret got a 250 million share buyback plan accelerated, adding 12% to the tailwind.

The price of oil rose 1.4% to 1.4% after yesterday’s EIA crude oils inventories report revealed a greater draw than expected, and also increased 1.4%. The API data yesterday showed that, which is a positive sign for the oil price amid concerns over whether record Covid-19 cases will slow down the economy and if it will have an impact on people’s daily lives.

With cryptocurrencies down 2.4% and 2.9% respectively, the market was headed for another losing day. The drop in both had a 5.4% increase.

Cal-Maine Foods After yesterday’s losses, (NASDAQ:) has pared those losses. This is the headline report on a slow week. The egg producer did not have numbers for yesterday. Investors are scouring scanty data for indicators of inflation this week to see if they can enter 2022.

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