US indices and several tech stocks traded lower on Tuesday after US Treasury Secretary Janet Yellen said rates might need to be raised to stave off an overheating economy.
- IN Invesco QQQ Trust Series 1 (NASDAQ: QQQ) closed with a sharp 1.8% drop at $ 330.14.
- IN SPDR S&P 500 ETF Trust (NASDAQ: SPY) also closed 0.62% lower at $ 415.62.
- IN SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) finished up 0.11% at $ 341.49.
Here are the winners and losers of the day at QQQ, according to Benzinga Pro.
There were few winners on the Nasdaq on Tuesday, but there were names in the business software industry: Paychex, Inc. (NASDAQ: PAYX), Check Point Software Technologies Ltd. (NASDAQ: CHKP) and Automatic data processing Inc (NASDAQ: ADP).
Meanwhile, Paypal Holdings Inc (NASDAQ: PYPL), Apple Inc. (NASDAQ: AAPL) and NVIDIA Corporation (NASDAQ: NVDA) have been some of the best-known names in high-tech QQQ.
Elsewhere on the street
Palantir Technologies Inc. (NYSE: PLTR) will post profit on May 11, and traders are hoping that will put an end to its shares. Palantir hit an all-time high of $ 45 after its “demo day” on January 26, when the company unveiled and demonstrated its own software systems. Since then, the stock has dropped 53% despite the S&P 500 hitting record highs … Read more
One company that has been a great investment in the past year is the social media giant. Snap inc (NYSE: SNAP). Snapchat stock has had a bad start in public markets since its highly anticipated IPO in 2017. Read more
The longer GameStop Corp. (NYSE: GME) is trading sideways with a decline in average daily volume, the more likely the bears will lower it. When stocks are up, volume is usually above average … Read more
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.