Analyst: Nab This Chip Stock After Earnings

The Dow is down over 99 points at midday

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Schaeffer's Midday Market Check
2/25/2021
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Dow Erases Wild Rally to Record Highs as Bond Yields Peak


By: Lillian Currens

The Dow Jones Industrial Average (DJI) is off over 99 points midday, erasing yesterday's wild rally to a record close. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also deep into the red, tumbling as tech resumes its selloff. Bond yields are continuing to rise at an alarming rate, with the 10-year Treasury yield surging above 1.49% -- its highest level in one year. Also on Wall Street's radar this afternoon is another round of jobless data. This time around, claims came in at 730,000 for the week, lower than the 845,000 expected. Durable goods data also bested estimates, rising 3.4% for January.

Continue reading for more on today's market, including:

  • What analysts are saying about NVDA after its quarterly report
  • Mixed holiday-quarter results are hurting Best Buy stock.
  • Plus, bulls flock to MRNA following upbeat 2021 forecast; PAND surges on acquisition buzz; and PING pasted with bear notes after revenue miss. 
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