NASDAQ leading the way to the downside ahead of Tesla and Microsoft earnings
the broader NASDAQ and S&P indices are trading at new session lows. The NASDAQ is leading the way to the downside. It is currently trading down around 53.0-0.5% at 10627. The S&P index is also trading near lows at -2.3 points or -0.07% at 3254.90.
The Dow industrial average remains higher by 55 points or 0.21% at 26897.16. The rotation out of the tech stocks and into the more traditional industrial stocks is resuming (or so it seems).
After the close Microsoft and Tesla will release their earnings. Microsoft is currently up 32.5% year to date and up 50.12% if you go back one year. Tesla is up a whopping 274% year to date and up over 500% going back one year. This despite all the headwinds from the unprecedented coronavirus pandemic.
