FOX Business’ Cheryl Casone breaks down the latest on the GameStop trading craze.
U.S. stocks opened mixed Tuesday as the Federal Reserve kicks off its two-day policy meeting.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 32865.02 | -88.44 | -0.27% |
| SP500 | S&P 500 | 3976.67 | +7.73 | +0.19% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13579.247443 | +119.54 | +0.89% |
The Dow Jones Industrial Average fell 20 points, or 0.06%, while the S&P 500 and the Nasdaq Composite gained 0.1% and 0.56%, respectively. The early advance comes a day after the S&P 500 booked its fifth straight record close and the Dow finished at an all-time high for a fourth straight session.
Technology stocks saw early gains, along with healthcare, while financials pulled back.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QQQ | INVESCO QQQ NASDAQ 100 | 322.99 | +4.16 | +1.30% |
| XLV | HEALTH CARE SELECT SECTOR SPDR ETF | 115.46 | +0.11 | +0.10% |
| XLF | FINANCIAL SELECT SECTOR SPDR ETF | 34.16 | -0.43 | -1.24% |
Traders continue to monitor bond yields, which have risen sharply this year amid inflation concerns, ahead of the Fed’s interest rate decision. The benchmark 10-year yield was down 1 basis point Tuesday to 1.59% after starting the year at 0.916%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP | 190.01 | -30.12 | -13.68% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 13.02 | -1.00 | -7.14% |
In stocks, GameStop Corp. shares were under pressure for a second day after plunging 17% during the prior session. The stock has gained 1,068% this year.
AMC Entertainment Holdings remained in focus after shares spiked 26% Monday following news that the company’s locations in Los Angeles County began reopening from their COVID-19 induced shutdowns.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA, INC. | 151.09 | +7.43 | +5.17% |
Moderna Inc. has begun a Phase 2/3 trial of its COVID-19 vaccine for children aged 6 months to less than 12 years.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FOXA | FOX CORP. | 43.90 | +1.20 | +2.80% |
Meanwhile, Fox Corp. Chairman Rupert Murdoch purchased about 457,000 shares at an average price of $42.77 apiece, worth more than $21 million. Murdoch now owns 1.295 million shares. Fox is the parent company of FOX Business and Fox News.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVX | CHEVRON CORP. | 107.71 | -2.42 | -2.20% |
| XOM | EXXON MOBIL CORP. | 58.69 | -1.71 | -2.83% |
Oil majors, including Chevron Corp. and Exxon Mobil Corp., were lower as West Texas Intermediate crude oil slid $1.46 to $63.93 per barrel.
Elsewhere in commodities, gold ticked up $1.70 to $1,730.90 an ounce and silver lost 30 cents to $25.99 an ounce.
Overseas markets were broadly higher.
In Europe, Germany’s DAX 30 climbed 0.59%, Britain’s FTSE 100 advanced 0.51% and France’s CAC 40 rose 0.16%.
China’s Shanghai Composite index paced the gains in Asia, trading up 0.78%, while Hong Kong’s Hang Seng index and Japan’s Nikkei 225 index rallied 0.67% and 0.52%, respectively.
