There is a rotation out of the NASDAQ stocks into the Dow industrial average in early US trading.
Today Caterpillar and Merck announced their earnings. They are leading the Dow stocks higher (Caterpillar shares are up 4.59% while Merck is trading up 1.35%). The market is preparing for Apple and Amazon on Thursday after the close and finding some sellers in the big cap tech stocks.
A snapshot of the market currently shows:
- Dow industrial average up 65.90 points or 0.19% at 35625.44
- S&P index -9.02 points or -0.20% at 4579.95
- NASDAQ index -72.96 points or -0.51% at 14273.06
Looking at some individual stocks:
- Microsoft is trading down -0.44%. Recall last week the market was disappointed with Microsoft's earnings
- Apple is trading near unchanged
- Amazon is trading down $1 -0.76%
- Adobe which moved sharply higher yesterday is trading down to dollars or -0.37% today
- Nvidia is trading down $3.74 or -0.80%
- Alphabet is also lower by $1.54 or -1.16%
- Meta is down $-3.80 or -1.18%
