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Mark Vickery
22nd February 2021

You are following Ahead of Wall Street – edit

You are following Mark Vickery – edit

Mark Vickery

In front of Wall Street

Markets closed mostly lower on the first day of a new week of trading among major indices. Although the Dow closed 29 points at the bell that afternoon, it had hit a 160-point leg at a daily high, the Nasdaq has one full 2 ​​handed in 46% per day – worst performance in a day since 27 January and closed on a three-week low The S&P 500 and the small-cap Russell 2000 were also in the red today: -078% and -069%. There wasn’t so much a major event that rocked the markets today if you can considering 10 year interest rates have been buffed – a 25% increase last month that is now 1.365% – and a new upside guide from Bank of America (BAC Quick QuoteBAC – Free Report) (which now expects 6.5% Full year GDP growth, strongest in 40 years) It felt more like melting snow sliding off the roof in large chunks (ask someone from Texas) We expect big economic numbers this week and lots of earnings reports, however Don’t start until tomorrow morning, looking at the sell-off of the day, especially on the Nasdaq, that’s probably what we’re seeing here, even though the volume of sales activity was higher than a normal profit posting, for example Tesla (TSLA Quick QuoteTSLA – Free Report) fell 85% on the day pull back, however, year after year and we’re seeing gains of more than 325%. If there ever was a company that was expected to pull back, it is Tesla, hands down, a great company with a bright future, but if a company has a P / E ratio of around 200 times its forward earnings, expect some pull. by 1000 USD to just under 40However, this is a vehicle that has already shipped in China, albeit at a lower price than expected. However, the entire electric vehicle market has been hit by investors today, and that’s the main point here, Tesla will be fine, as well On the Nasdaq we’re only seeing a small push-pull in daily trading activity, we’ll be reviewing earnings and economic results as the week progresses to give a clearer indication of what to expect from the future in the market we will also be doing tomorrow and Wednesday Hear from Fed Chairman Jay Powell Questions or comments about this article and / or its author? Click here >>

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World News – USA – Nasdaq falls on sell-off of Tesla (TSLA), but due to high valuation

Source: https://www.zacks.com/stock/news/1267636/nasdaq-drops-on-tesla-tsla-sell-off-but-from-high-valuation?art_rec=home-home-top_stories-ID03-img-1267636