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Home Nasdaq

Schwab’s Bank Boosts Dow Jones While AI Concerns Cause Google to Fall

Max "The Mako" by Max "The Mako"
April 17, 2023
in Nasdaq, NYSE
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Schwab’s Bank Boosts Dow Jones While AI Concerns Cause Google to Fall
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The Dow Jones Industrial Average increased, led by Charles Schwab (SCHW), which helped boost bank stocks. Conversely, Roblox (RBLX) experienced a drop in revenue update, and Google parent Alphabet (GOOGL) fell due to Microsoft (MSFT) AI concerns. Despite the underwhelming action, Teck Resources (TECK), InterContinental Hotels (IHG), and International Game Technology (IGT) were attempting breakouts as they tested entries. Meanwhile, Treasury yields increased, although stocks progressed positively as both Nasdaq and the S&P 500 rallied. However, State Street (STT) underperformed the S&P 500 index, sliding 9.3% after disappointing results.

The S&P 500 sectors finished mostly positive, with financials and real estate sectors performing the best, while the energy and communication services sectors lagged. Regional banks helped small caps, as the Russell 2000 rose 1.2%, while growth stocks did the best with the Innovator IBD 50 ETF (FFTY) popping 2%. The Dow Jones industrials ended the session with a gain of 0.3%, thanks to a late rally, with Boeing (BA) stock among the top performers, rising 1.6%.

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