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The Dow on Wednesday gained more than 500 points, or 1.9%, while the S&P 500 rose nearly 2%, both snapping six-day losing streaks. Sterling has stooped to record lows against the U.S. The moves followed a broad rally for stocks Wednesday, as the Bank of England said it would purchase bonds in an effort to help steady its financial markets and the cratering British pound. The tech-heavy Nasdaq Composite fell 2.84% to 10,737.51.
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Meanwhile, the Dow Jones Industrial Average plunged 458.13 points, or 1.54%, to 29,225.61. This is also its lowest intraday level since 2020.
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During the session, it also fell to a new 2022 intraday low of 3,610.40. The S&P 500 declined 2.1% to 3,640.47 in a new closing low for the year. The sell-off was broad-based and was led by Apple, which tumbled as a major investment bank downgraded the one-time bear market outperformer. The daily high comes in at its May 18 high of $181.18.Stocks resumed their 2022 sell-off on Thursday, sending the S&P 500 to a new low for the year, as fears swirled that a recession won't stop the Federal Reserve from raising interest rates. As of 1:50 p.m. EST, the high for the session stands at $180.92. It had no problem surpassing Wednesday's closing price and has continued to make new highs for the session. NVDA Price Action: After a much lower open, right into the aforementioned support at the $160 area, the issue immediately bottomed at $160.22 and began to rip higher. On the upside, it was emphasized that for a sustained move to the upside, clearing Wednesday's closing price would be extremely bullish. With two of the previous four lows at the $157.50 area, a breach of that area may indicate a move back down to the premarket low. Nvidia's Premarket Creep Higher: The rally continued off the opening of the premarket session and the issue had recovered to the $163 area when it was being covered on the broadcast.īulls in the issue were alerted to the cluster of lows at $160 over the last five sessions, signaling accumulation by larger participants in the issue.įor investors who did not wait for the $160 area to go long and were attempting to go long at $163, the risk on the downside was the same. That exceeded its former low for the move by over $3, which was made on May 12 at $155.67.įollowing the washout, the issue caught a sustained bid and ended the after-hours session with a closing print of $158.12. In fact, it was slammed from its closing price ( $169.75) down to $152.20. Nvidia's After-Hours Beatdown: The Street reacted in an extremely negative way off the earnings release minutes after Wednesday's close. The range in Nvidia from Wednesday was $160 to $171.11 with a closing price of $169.75.
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Of course, the most important one is the closing price, as that is where all investors (long or short) are going to market on profit and loss. The reason: any investors in the issue for a short-term trade are going to lean on those levels for exits. Wednesday's Nvidia Price Action: An easy way to interpret price action in an issue following its earnings report is to note the previous day's price action.
Nvda premarket stock quote plus#
This can be even more magnified when a company has news such as an earnings report. On Thursday's PreMarket Prep Plus show, the early price action in the always volatile Nvidia Corp NASDAQ:NVDA was dissected for the upcoming trading session. On many occasions what occurs in the after-hours and premarket sessions in a particular issue can be very different from what happens in the regular session.