Tech Selloff Continues To Pressure Market

The DOW slid 234.33 points or -0.7%, to 32,627.97 on Friday, pressured by Visa and JPMorgan. The S&P 500 dipped -0.1% to 3,913.10, closing off its lowest level of the day when it fell 0.7%. The NASDAQ gained +0.8% to 13,215.24 as investors bought the dip in tech shares which had been putting pressure on the market after continuing to selloff earlier in the week. Facebook gained +4%, while Amazon and Netflix rose about +1.5% each.

On a weekly level, The DOW and the S&P 500 lost -0.5% and -0.8%, respectively, this week, breaking their two-week win streak. The NASDAQ also declined -0.8% for the week, posting its fourth negative week in the last five.

INO.com's Stock of the Week
See This Week's Stock Pick

Our experienced analyst carefully scours financial publications, balance sheets, press releases, charts, live events, and more to locate the most liquid, undervalued, and overlooked stocks.

Reveal The Stock of the Week

Crude oil and Bitcoin joined the negative week party with a loss of -6% parking back-to-back weekly losses for the first time since October 2020. Bitcoin lost -3.7% on the week, its first weekly loss in three weeks.

The U.S. Dollar and gold were able to post weekly gains of +.07% and +1%, respectively.

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz
INO.com and MarketClub.com