From Nasdaq: 2024-03-28 12:13:12

Stocks faced volatility as optimism around potential interest rate cuts faded, leading to a third-straight daily drop for the Dow and S&P 500. However, stocks rebounded midweek, with all major indexes still eyeing monthly and quarterly gains despite mixed economic data.

In the pharma and biotech sector, Viking Therapeutics, Merck, and Moderna made significant strides in drug and vaccine development, with positive trial results and FDA approvals boosting stock performance.

Tech updates included struggles for Intel and AMD due to China’s chip restrictions, while Uber looked poised for new highs. Morgan Stanley upgraded Seagate Technology, but Palantir Technologies received a downgrade. Hewlett Packard Enterprise was labeled one of the worst tech stocks for April.

Looking ahead, April kicks off with key economic indicators and earnings reports from BlackBerry, Cal-Maine, Dave & Busters, and Levi Strauss. Traders should watch for signals like the Choe Volatility Index and potential buying opportunities in the market.



Read more at Nasdaq: Stocks Look to Close Short Week With Monthly, Quarterly Wins