The Nasdaq Was Flat Today. Here's Why.

The Invesco QQQ Trust Series 1 QQQ fell to an intraday low of $312.47 before finishing lower by 0.03% at $315.91 Tuesday. Weakness came from the semiconductor space, which was among the largest losers in the index Monday.

U.S. indices at large were trading lower as the liquidation of a U.S. hedge fund weighs on bank stocks and as tech stocks continue to fall amid a rotation out of the sector due to yield concerns and reopening optimism.

The SPDR Dow Jones Industrial Average ETF Trust DIA finished higher by 0.32% at $331.66. The SPDR S&P 500 ETF Trust SPY fell by by 0.05% at $395.78.

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

Among the gainers for the Nasdaq were top names in social media and gaming: Facebook, Inc. FB, Activision Blizzard, Inc. ATVI and Electronic Arts Inc. EA. 

Facebook shares were trading higher after Deutsche Bank maintained a Buy rating on the stock and raised its price target from $355 to $385.

The top laggards for the Nasdaq came from the likes of Paypal Holdings Inc PYPL, Microchip Technology Inc. MCHP and Applied Materials, Inc. AMAT.

Elsewhere On The Street

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• ARK Invest CEO Cathie Wood's most recent statements about Bitcoin BTC/USD suggest that the digital asset’s trillion-dollar valuation is nowhere close to where it might be in the near future. Speaking at a CBOE panel, she said, “If we add all of the potential demand relative to the limited supply, we come up with incredible numbers… Read More
• Apple Inc AAPL recently unveiled its family of iPhone 12 models, which are the first to be compatible with 5G mobile networks. Analysts are expecting 5G iPhones to trigger yet another massive global upgrade cycle among existing iPhone users… Read More