While financial and technology stocks managed to pare back losses heading into the close, energy stocks continue to be in the crosshairs of sellers. In addition to stocks like ^HAL^, which pulled back by another 3% ahead of trading on Wednesday to close lower for a fifth day in a row, oil majors like Exxon Mobil and Chevron (more on both below) came under heavy selling on the day.
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Here are 7 Stocks You Need to Know for Wednesday.
As noted above, oil majors like ^XOM^ and ^CVX^ (below) have pulled back along with the overall correction in oil stocks.
Both stocks have closed lower for two days in a row, with shares of CVX down more than 3% ahead of trading on Wednesday.
After pulling back into oversold territory on Monday, shares of ^NFLX^ rallied sharply on Wednesday, gaining more than 2% to finish the day just shy of its 5-day moving average.
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^AMGN^ climbed back above its 200-day moving average on Tuesday, closing above that level for the first time since early February.
Shares of ^BIDU^ (below) pulled back by more than 3% in trading on Tuesday after a sharp three-day rally pushed the stock into overbought territory above the 200-day moving average.
BIDU has not closed in oversold territory above the 200-day moving average since the second half of February. The stock is up more than 20% since that oversold close.
Sellers are back at work in the semiconductor market, with a number of top stocks from the sector closing lower for a third or even fourth session going into trading on Wednesday. Typical of the retreat in semiconductor stocks was the pullback of 2% in ^MXIM^ (below).
Down three days in a row, MXIM joins a growing number of stocks from the sector that are trading in oversold territory.
Scheduled to report quarterly earnings on Wednesday, ^JPM^ has closed lower for three out of the past four trading days.
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David Penn is Editor in Chief of TradingMarkets.com