Rockwell Trading Services
Rockwell Trading Services

Market Update: NASDAQ loses 1.9% after worst day since March

Email sent: May 4, 2021 6:36pm
Here's what you need to know...
Market Update

Market Update for Tuesday - May 4th, 2021

-, first things first - here's where the major markets ended today:

MARKETS
arrow down S&P 500 4165 -28 -0.7%
arrow up Dow Jones 34133 +20 +0.1%
arrow down Nasdaq 13545 -255 -1.9%
arrow up Crude Oil 65.69 +1.20 +1.9%
arrow down Gold 1776.0 -15.8 -0.9%
*As of market close

And here's today's stock market update:

Coffee with Markus - Live

If you would like to catch Mark & Markus LIVE tomorrow morning, click here.

Today's Highlights:

  • Stocks finished mostly lower today with tech stocks getting hammered. The NASDAQ lost 2.0% after its worst day since march.
  • A few of today's tech losers included Apple (AAPL) down 3.5%, and Nvidia (NVDA) losing 3.3%.
  • There were no direct catalysts for today's drop. But stocks hit session lows after Treasury Secretary Janet Yellen said that "it may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat." And as we've seen over the last few weeks, tech stocks fall over higher interest rate concerns.
  • In earnings news, Pfizer (PFE) finished higher by 0.3% after better than expected earnings. The company said that it plans to file for FULL approval of its vaccine. And yesterday, there was news that the FDA is expected to amend its emergency use vaccine authorization to include teens between 12-15 years old.
  • CVS Health (CVS) was an earnings winner as well, reporting better than expected numbers tied to an increase in sales with the help of in store vaccinations. The stock ended with an impressive 4.4% gain.
  • United Steel (X) was up nicely today after Credit Suisse upgraded the stock. Shares were higher by 7.9% at the end of the day.

How Earnings Season Affects Options Trading

So earnings season happens quarterly. This is when corporations reveal their financial results for the previous quarter.

Today, in this article, we’re going to talk about how earnings season affects options trading, because, as you know, I trade options.

I will explain exactly how earnings season affects options, and why I don't trade a company about to announce earnings.

Check it out HERE:

Coffee with Markus - Live

Quote of the Day

Quote of the Day - Image

What's Next?

Whenever you're ready... here are 3 ways I can help you:

  1. Get my new book "The PowerX Strategy"
    I just released my new book "The PowerX Strategy." In this book I reveal a powerful strategy for swing trading stocks and options.

  2. Subscribe To My YouTube Channel & Join Me Live 2x A Week
    Discover the tips and tricks I've learned over my 20+ year trading career. On Mondays and Thursdays join me at 2:30 pm Central as I review the live markets and share insights, analysis and live trades.

  3. New Video: Here's How I Trade Stocks and Options
    Watch this 25 min video and discover my personal trading plan: how I find the best stocks and options to trade, when to enter, when to exit and what tools I personally use to make my trading decisions in less than 15 min per day.
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Rockwell Trading Services LLC
401 Congress Ave 1540
Austin, Texas 78701
United States
Please keep in mind that trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. If you are following the trading systems or recommendations of any third party educator, please note that Rockwell and such third party educators are separate companies. Rockwell is not responsible for the services and products offered by these third party educators.

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