Dow backs off data cooling AMC plunges on APE conversion

The Dow Jones Industrial Average fell 0.8% in late trading Tuesday. The blue-chip index was pressured by signs of a slowing economy after weak factory orders and JOLTS reports.

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Dow Jones Components Larva (cat) And apple (AAPL) were the big losers, even with the tech giant Intel (INTC) And Nike (NKE) acquired. Microsoft (MSFT) in a buy area above 276.86 entry points. Early Entry at 176.25 is being watched by Apple.

The S&P 500 is down 0.7% over the hour.

Most sectors declined, but utilities made small gains. Gold and silver mining stocks Newmont (nem) swarmed.

Extra storage space (EXR) after it announced its $12.7 billion deal with Life Storage Monday. software stock service now (now) And TakeTwo Interactive (TTWO) also rose. steel dynamics (STLD) And United Rentals (URI), with steel stocks selling off aggressively.

Software shares on the Nasdaq rose but the technology index was still down 0.7% on the hour. Atlassian (a team) And CrowdStrike (CRWD) rose while Sirius XM (Siri) And Communication charter (CHTR) He falls. IBD Leaderboard Stock watch list HubSpot (interlocutor) rose in the overbought area above the entry level of 118.49 in a flat base. Amazon (AMZNIt reversed previous losses and posted a gain of over 1% per hour.

The Russell 2000 index of small companies fell more than 2%.

Trading volume on the New York Stock Exchange increased slightly while trading volume on the Nasdaq Stock Exchange decreased compared to the same time on Monday.

Crude Oil stopped at $80.41 a barrel after Monday’s rally. Matt Smith, oil analyst at Kepler, sees gas at $4.00 a gallon as summer approaches. Analysts at Goldman Sachs and Capital Economics have increased crude oil price targets.

The yield on the 10-year Treasury fell 9 basis points to 3.33% and is testing weekly lows.

Stocks moving out of the Dow Jones index

Chipotle Mexican Grill (CMG) Breaking the base of the cup with a buying point at 1,724.81.

In a sharp reversal from Monday’s sell-off, World Wrestling Entertainment (WWE) broke the consolidation, entering 83.73. Earnings are due April 12th.

AMC (AMC) fell by more than 20% after the adjustment to convert it AMC’s Preferred Equity (monkey) to common stock. The APE units were released in August last year as the movie and theater company tried to pay off the debt. The conversion will dilute the value of AMC shares.

another meme play, bed bath behind (BBBY), fell sharply after lowering the price target to 50 cents from Jefferies analyst Jonathan Matuszewski.

C3. ai (Amnesty InternationalShares fell more than 20% on reports of Kerrisdale Capital’s allegations of “serious accounting and disclosure issues.”

The Job Opportunities and Employment Turnover Survey (JOLTS) showed a sluggish labor market, with 9.931 million job openings in February, down from the 10.4 million views. The number is down from 10.824 million in January. The number of jobs fell below the 10,000 mark for the first time since May 2021.

Factory orders contracted to 0.7% in February after falling 2.1% in January.

Also out is Dow Jones, a competitor of SpaceX Virgin Orbit (VORB) to bankruptcy.

Conagra (CAG) on deck to report earnings Wednesday, with Lamb Weston (LW) after Thursday.

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