The Stock List: Semiconductor Stocks Resist Second Day of Selling
Continued selling in financial stocks helped send stocks lower heading into the weekend, setting up renewed oversold conditions when trading begins on Monday. Sharply lower on the day were stocks as diverse as ^EBAY^, down well over 6%, and ^VMC^, off nearly 8%.
The lone source of strength in the stock market ahead of trading on Monday is in technology, where a number of semiconductor stocks continued to gain ground below the 200-day moving average. More on the rally in semiconductors in our 7 Stocks You Need to Know stock list below.
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Here are 7 Stocks You Need to Know for Monday.
Financial and energy stocks were among the biggest sources of selling ahead of trading on Monday. In addition to follow-through selling in financials like ^JPM^ and Citigroup, credit card companies like ^MA^ and ^AXP^ pulled back by more than 4%.
Both MA and AXP have pulled back for two days in a row above the 200-day moving average.
Also selling off by more than 4% in Friday’s session were oil equipment and services stalwarts ^HAL^ and ^SLB^.
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What’s up on a down day? Semiconductor stocks like ^MU^ and ^MRVL^ finished higher by well over 1% in Friday’s trading. Gains in MU have pushed the stock into overbought territory below the 200-day moving average.
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David Penn is Editor in Chief of TradingMarkets.com