Retailer Dragged Despite Upbeat Outlook

The Dow erased earlier losses to add roughly 15 points

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Schaeffer's Market Recap
2/23/2021
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S&P 500 Snaps Five-Day Losing Streak Following Fed Testimony


By: Fernanda Horner

Stocks were mixed on Tuesday, as Wall Street managed to shake off rising inflation fears following Fed Chair Jerome Powell's testimony before Congress, which described inflation as "soft." The Dow erased steep early morning losses to add roughly 15 points, while the S&P 500 also clawed its way back into the black, snapping its five-day losing streak. Meanwhile, the Nasdaq fell for a second consecutive session, after earlier breaching the significant 50-day moving average, as tech stocks continued to plummet amid growing bond yields

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

  • Macy's stock dragged despite upbeat outlook.
  • Billion-dollar public share offering sinks cruise giant.
  • Plus, PANW gets the cold water bucket; television stock brushes off earnings beat; and why you shouldn't sweat the ETSY pullback.
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