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Market Overview

The Market Was Mixed Today. Here's Why.

The Market Was Mixed Today. Here's Why.

The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) hit an all-time high of $330.24 Tuesday before retreating back to $328.86 at the close. 

Here are the day's winners and losers from the DIA, according to data from Benzinga Pro.

The leaders came from the likes of tech: Intel Corporation (NASDAQ: INTC), Microsoft Corporation (NASDAQ: MSFT) and Apple Inc (NASDAQ: AAPL).

Apple traded higher after Evercore ISI maintained its Outperform rating on the stock and raised its price target from $163 to $175.

Intel traded higher, potentially as chip shortage concerns persist. Traders on Tuesday circulated a research report projecting PC DRAM contract prices are expected to increase in the second quarter.

Boeing Co (NYSE: BA), American Express (NYSE: AXP) and Chevron Corporation (NYSE: CVX) were the top two laggards for the DIA.

Boeing shares were lower after Bloomberg reported the company is further testing Dreamliner cockpit windows as the flaws search widens. The issue is limited to a smaller number of 787 Jets.

Elsewhere On The Street

  • iPhone supplier Hon Hai Precision Industry Co., Ltd. (Pink: HNHPF), popularly known as Foxconn, confirmed it will begin to manufacture electric vehicles in North America by 2023, Nikkei reported, citing a press briefing by the company's Chairman Young Liu in Taipei. Read more … 
  • A large part of Tesla Inc's (NASDAQ: TSLA) business is found in its role as an energy company. Tesla makes batteries for vehicles and home storage, solar panels and industrial-scale battery storage solutions. Tesla is controlling over 1.2GWh of energy with its Autobidder system and industrial energy storage solutions, according to Electrek. Read more … 
  • Chinese electric vehicle maker Xpeng Inc.’s (NYSE: XPEV) CEO He Xiaopeng said he bought shares in rival startup Nio (NYSE: NIO) during the latter’s toughest time in 2019. Read more … 
  • Ant Group, the financial technology affiliate of e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) retained its spot as the largest holder of blockchain patents in 2020, according to a report by International Asset Management that cited data from Clarivate’s Derwent World Patents Index or DWPI. Read more …

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