Nasdaq Hits New Low As Tesla Dives, WM Thrives, Cheniere Sets Up | Stock Market Today

TL;DR

The stock market had another volatile session, with the NASDAQ down almost 4% and the S&P 500 down 2.8%.

Transcript

good afternoon everyone welcome to stock market today my name is ken shreeve joined by news editor ed carson we'll talk about another very volatile session in the stock market let's see the nasdaq composite at last check down almost four percent uh on the session s p 500 down 2.8 percent and the dow jones down 2.4 percent uh as usual ed has three s... Read More

Key Insights

• 🌸 The stock market saw significant losses, with the NASDAQ hitting a 13-month low.
• 😘 All major indexes undercut the lows from earlier in the week, signaling a potential market correction.
• 🛀 Defensive stocks like Waste Management have shown strength in an otherwise weak market.
• 🫢 Natural gas stocks, such as Cheniere, experienced a bounce due to escalating gas prices in Europe.
• 📡 Investors should be cautious about buying in a weak market and consider waiting for a clearer bottom and uptrend signal.
• 🥳 Market bottoms require more than just one good day of gains; several days of positive action are necessary.
• 😨 The fear gauge (VIX) is indicating increased fear in the market, but not yet at excessive levels.

Questions & Answers

Q: What were the major losses experienced in the stock market today?

The NASDAQ was down almost 4%, the S&P 500 was down 2.8%, and the Dow Jones was down 2.4%.

Q: Did any stocks perform well despite the overall market decline?

Waste Management had a strong day with a gap up and impressive gains, backed by strong earnings.

Q: What were the factors contributing to Tesla's decline?

Concerns about Elon Musk potentially having to sell his Tesla holdings to pay for the Twitter deal contributed to the decline. Additionally, growth stocks in general have been struggling.

Q: What signals should investors look for before considering re-entry into the market?

Investors should look for several days of positive price and volume action, indicating a real uptrend, rather than just a single day of gains.

Summary & Key Takeaways

• The NASDAQ composite fell below recent lows, indicating a potential shakeout in the index.

• All major indexes undercut Monday's lows, leading to broad weakness in the market.

• Investors should wait for real signs of a bottom and upward movement before considering re-entry.