From Nasdaq: 2024-04-15 17:49:00

The stock market had a volatile day, initially rebounding but later sliding with the Dow down -0.65% and the Nasdaq down -1.79%. Bond yields rose with the 10-year at 4.63% and the 2-year at 4.94%, affecting trading. Salesforce stock fell -7.3% after news of a potential acquisition, and Tesla plans to lay off 10% of its workforce.

Homebuilders Confidence Index remained flat at 51 in April, as uncertainty about future mortgage rates impacted the market. Business inventories rose +0.4% in February, with sales up +1.6%. This lagging indicator may signal lower price points ahead. Analysts anticipate a potential economic slowdown as inventory piles up.

Zacks experts select top stocks with potential to double in value, highlighting an American AI company with major clients like BMW and Dell Computer. The stock has prospects for quadrupling in the year ahead. Previous picks included Boston Beer Co. +143.0% in 9 months and NVIDIA +175.9% in one year.



Read more at Nasdaq: Marks Cannot Sustain Rebound Amid High Bond Rates