The SPY Was Down Today. Here's Why.

U.S. indices traded lower Tuesday amid a continued sell-off in equities, driven by selling in growth stocks and technology stocks. Inflation concerns have also weighed on stocks and further pressured growth sectors.

  • The SPDR S&P 500 ETF Trust SPY finished lower by 0.89% at $414.21.
  • The Invesco QQQ Trust Series 1 QQQ fell by 0.14% at $325.31.
  • The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 1.39% at $342.91.

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

Leaders for the S&P 500 were Enphase Energy Inc ENPH, Paypal Holdings Inc PYPL and Twitter Inc TWTR

Hanesbrands Inc. HBIOccidental Petroleum Corporation OXY and HP Inc HPQ were among the largest losers.

Elsewhere On The Street

Data analytics company Palantir Technologies Inc. PLTR is the latest public company to embrace Bitcoin. Palantir, which reported forecast-beating first-quarter revenue Tuesday and in-line earnings per share, said on its earnings call that it will accept Bitcoin BTC/USD as payment from customers… Read More

Neuberger Berman's Dan Flax talked Tuesday about three growth stocks in particular that he thinks are well-positioned in the long term on CNBC's "Squawk Box." Rising interest rates will be a concern for growth stocks in the near term, but longer-term secular trends around the buildout of digital infrastructure remain healthy, Flax said… Read More

A leading retailer of home, fragrance and women’s lingerie and beauty products has announced a spinoff intended to unlock shareholder value. Here’s what investors should know about the spinoff of Victoria’s Secret business from L Brands LB... Read More

Posted In: Long IdeasNewsShort IdeasAfter-Hours CenterMarketsTrading IdeasETFs

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