Dell Beats, Banks Bounce and Sellers Dominate Industrials: 7 Stocks You Need to Know for Wednesday
Buyers arrived late in the session on Tuesday, slowing the downward momentum in the stock market that had grown over the past several days. Among the blue chip stocks making some of the biggest single-day gains ahead of trading on Wednesday are ^WFC^ and ^GOOG^. Wells Fargo rallied by more than 3%, while shares of Google closed higher by more than 2%.
Both ^HD^ and ^TGT^ closed higher ahead of trading on Wednesday, rallying from two-day pullbacks – note Home Deport announced earnings on Tuesday, while Target reports earnings on Wednesday.
Here are 7 Stocks You Need to Know for Wednesday.
Traders have begun bidding select financials higher. Gaining more than 2% on Tuesday were shares of ^JPM^ (below).
Shares of JPM rallied into strength above their 5-day moving average after pulling back for four days in a row.
Plunging to new lows beneath the 200-day moving average, shares of ^HPQ^ closed lower by more than 7% ahead of trading on Wednesday.
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Both ^CAT^ and ^DOW^ (below) have closed lower for five days in a row.
Shares of DOW have closed in oversold territory for the past two days in a row.
Scheduled to announce quarterly earnings on Wednesday, ^ANF^ had its shares close lower for a fourth consecutive trading day in Tuesday’s trading.
Buyers stepped into the market for shares of ^AAPL^ (below), which closed moderately higher on Tuesday after pulling back for four days in a row.
AAPL had closed in oversold territory for two consecutive sessions before Tuesday’s bounce.
^DELL^ announced quarterly earnings after the market closed on Tuesday that were higher than analysts had expected. The stock had pulled back for four days in a row, finishing in oversold territory in advance of Tuesday’s report.
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David Penn is Editor in Chief of TradingMarkets.com