Signal Says Buy the Dip in This Pharma Giant

The blue-chip index is down over 295 points midday

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Schaeffer's Midday Market Check
8/04/2021
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Dow Down Triple Digits as Slew of Disappointing Earnings Roll In


By: Lillian Currens

A bevy of disappointing economic data and earnings reports are weighing on stocks this afternoon. The Dow Jones Industrial Average (DJI) is down over 295 points, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also firmly in the red. More specifically, the ADP private payrolls survey for July showed an increase of 330,000 jobs, almost half the 653,000 expected. Plus, an earnings miss from General Motors (GM) is pouring cold water on today's reporting landscape. Meanwhile, investors are cautiously monitoring the spread of the Covid-19 delta variant, while the 10-year Treasury yield is moving higher, despite earlier falling below 1.13%.  

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

  • Why investors may want to hold onto Amgen stock.
  • A surge in ticket sales boosted this live music powerhouse.  
  • Plus, AMD hits all-time high; BYSI's positive drug trial; and why ZY bottomed out.
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