The Dow is down over 40 points midday
| 3/23/2021 | | Have you seen our volatility scorecard? Sign up by clicking here! | Stocks Struggle for Direction Ahead of Powell, Yellen Comments | By: Laura McCandless | The Dow Jones Industrial Average (DJI) is down over 40 points midday, as stocks succumb to a bout of profit-taking. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) have both been struggling for direction amid the one-year anniversary of the pandemic lows. The former was last seen registering modest losses, while the latter is flat. Meanwhile, new home sales data came in much lower than anticipated, with sales occurring at a seasonally adjusted annual rate of 775,000 last month, compared to the 879,000 expected. However, all eyes are on the House Financial Services Committee. Investors are awaiting the first joint appearance from Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen, and the economic insight that will come from today's testimony. Ahead of the event, gold prices are on the decline. Continue reading for more on today's market, including: - Microsoft stock makes moves on buyout talks.
- DISCA downgraded after long-term rally on the charts.
- Plus, Options traders eye a new carbon storage project; DLPN soars on NFT division; and FREQ plummets after trial results.
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