BofA's Latest Auto Sector Pick

The Dow is down 163 points midday

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Schaeffer's Midday Market Check
5/17/2021
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Struggling Big Tech Puts More Pressure on Markets


By: Lillian Currens

The Dow Jones Industrial Average (DJI) is off 163 points midday as Big Tech's march lower resumes, pouring cold water on the broader market. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also registering notable drops. Last week's Consumer Price Index (CPI) jump still looms, stoking inflation fears that have gripped Wall Street for months now. The communications sector is one of the few spaces brushing off today's broad-market downfall amid news that Discovery (DISCA) and AT&T (T) are planning to merge HBO parent Warner Media and the Discovery into its own public company.  

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

  • Why one analyst sees Cummins stock being a strong bet for bulls. 
  • The technical trouble that could be keeping a lid on Hostess shares post-earnings.
  • Plus, CVM blasted by option bears; NKLA gets halo lift; and Elon Musk tweets turn RIOT volatile. 
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