SNAP Soars on Analyst Praise

The Dow registered a 48-point drop at midday

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Schaeffer's Midday Market Check
4/06/2021
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Markets Temper Midday as Traders Brush off Upbeat Jobs Data


By: Jake Scott

Stocks are struggling for direction at midday, with all three major benchmarks hovering near breakeven. This comes just one session after the Dow Jones Industrial Average (DJI) -- which was last seen down around 48 points -- and S&P 500 Index (SPX) closed at record highs, though the latter is looking at modest gains at midday. Meanwhile, the Nasdaq Composite (IXIC) is in the black, likely due to the retreating 10-year Treasury yield.

In other news, the Labor Department released upbeat job openings data for February earlier today. According to its Job Opening and Labor Turnover Survey (JOLTS), job openings jumped by 268,000 to 7.4 million, above the expected total of 7 million.

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

  • SNAP looks to extend rebound following analyst praise.
  • Cara Therapeutics stock moves higher on index update.
  • Plus, options bulls blast TWTR; restaurant stock soars thanks to revenue jump; and ARES dips after stock offering.
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