Stocks cut gains as tech sector weighs on market

[Yo_Mama_Been_Loggin]

Stocks gave back earlier gains Tuesday as a decline in tech shares offset some of the enthusiasm around the prospect of states reopening their economies.

The Dow was up just 90 points after rallying more than 370 points earlier. The S&P 500 was little changed, while the Nasdaq slipped 0.5%.

Facebook and Alphabet both traded more than 1% lower. Amazon slid 2%, while Netflix pulled back 1.7%. Apple shares traded 0.5% lower.

Stocks were also under pressure as oil prices seesawed in another volatile session. The June contract for West Texas Intermediate was down more than 1% at $12.63 per barrel after trading slightly higher earlier on Tuesday. To be sure, WTI briefly fell more than 20%.

https://www.msn.com/en-us/money/markets/stocks-give-up-gains-as-tech-sector-weighs-on-market/ar-BB13jODE?li=BBnbfcN

[jimfields33]

1. How could amazon lose two percent?

People are ordering more then ever. Heck I just ordered 350 dollars yesterday and 164 dollars today. Yesterday’s were gifts for anniversary and birthday. Today was tools I needed. If they are losing stock market now, wait for when everything opens again.

[aquamarina]

2. People are selling to take profit.

Same with Netflix, stock rose to $440 a share, had their quarterly report showing huge increase, stock price dropped the next day when people sold to take advantage of high share price.

[jimfields33]

3. Ah. Got it.

Too bad they all didn’t leave it, couldn’t it rise more?

[aquamarina]

4. Could be some people just need the money - think retirees.

But likely lots of big investors taking profit. But you are right, given all the Amazon shopping, the price will likely continue to go up.

[jimfields33]

5. Good point on retires

I forgot they could use those dollars.