13.4 C
New York
Wednesday, May 18, 2022
HomeStock market todayStock market today April 20, 2021

Stock market today April 20, 2021

Stock market today

Stock market today April 20, 2021. A second consecutive day of losses for the US stock market. Dow Jones lost 256 points, S&P 500 lost 28 points and Nasdaq lost 128 points. Small-cap stocks underperformed, Russell 2000 lost 43 points. The closing numbers for the US stock market today follow.

S&P 500: 4,134.94,-28.32(-0.68%)
Dow 30: 33,821.30,-256.33(-0.75%)
Nasdaq: 13,786.27,-128.50(-0.92%)
Russell 2000: 2,188.20,-43.80(-1.96%)

Stock market news today

“Stocks fell Tuesday, with the three major indexes looking for dip for a second straight session.

The Dow and S&P 500 each slid further below their recent all-time highs. Cyclical travel and leisure stocks including airlines and cruise lines slid, while Big Tech stocks dipped even as the benchmark 10-year Treasury yield edged lower.

“It’s really been an amazing tug-of-war between growth and value, cyclicals and defensives. Tech has outperformed phenomenally well over the last three to four weeks. But what we’re seeing … is a little bit of a move underneath the surface,” Andrew Smith, Delos Capital Advisors, told Yahoo Finance on Monday.

“While the headline sectors really underperformed from the technology, consumer discretionary perspective, we have looked at industry groups, and we’ve seen tech hardware do well. We’ve seen software services continue to do well,” he added. “And we think that really is an economic function – that the momentum that we’ve seen in the V-shaped reflationary recovery is now set to pull back and wane a bit, and we’re going a little bit more growth-y [and] defensive, in the markets.”

Despite the recent dips, stocks still remain near all-time highs and have already rallied 10.8% for the year-to-date, leading some analysts to speculate that sentiment may be running too hot.

“Many of our favorite sentiment gauges are becoming extremely bullish, which could be a near-term contrarian warning,” Ryan Detrick, chief market strategist for LPL Financial said in a note Monday. “The American Association of Individual Investors Sentiment Survey recently showed bulls outnumber bears by the most since January 2018.”

“The 10- and 20-day average put/call ratios from the Chicago Board Options Exchange (CBOE) are above their 95th percentile – suggesting option markets are flashing a good deal of complacency,” he added. “The Bank of America Global Fund Manager survey also showed that portfolio managers are maintaining significant underweights to cash, implying investors are all-in on the ‘risk on’ environment.”

Stock market data: Yahoo Finance




Please enter your comment!
Please enter your name here

Most Popular