FAANG Stock Facing Off With Key Ceiling

The blue-chip index was down as much as 160 points earlier today

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Schaeffer's Market Recap
3/29/2021
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Dow Scores Third-Straight Win Despite Bank Sector Headwinds


By: Jake Scott

The Dow scored a nearly triple-digit win to kick off the week, despite earlier being down as much as 160 points at its session lows. The blue-chip index managed to secure a third-straight win and shake off big losses from bank names, which suffered in the wake of Hwang's Archegos Capital Management's forced liquidation. The S&P 500 closed relatively flat, while the Nasdaq once again finished in the red as bond yields moved higher. Looking ahead, U.S. President Joe Biden is expected to unveil his infrastructure plan on Wednesday, a plan that could cost close to $3 trillion. 

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

  • Amazon.com stock remained steady despite multiple headlines.
  • With earnings ahead, Conn's stock should be on traders' radars.
  • Plus, Tencent's buyback plan; call traders eyeing TWTR; and more on CALM's mixed earnings report.
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This Could Spark New Pot Stock Boom


With Democrats now controlling both houses of Congress and the executive branch, cannabis decriminalization on the federal level could be months away. This could result in established Washington State weed companies being able to market across state lines -- setting off a bidding war for quality stocks at reasonable prices.

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