XELA - Midday Market Update: Why Are Stocks Down Today?
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Our midday market update for Tuesday answers the question of “why are stocks down today?”
Investors curious about falling stocks today can blame the Nasdaq 100. Specifically, look to Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) as reasons behind the stock market being down. The bigger question is likely why are those two down today?
It all has to do with earnings reports. Both MSFT and AAPL are planning to release their earnings reports for the second quarter of 2021 after the markets close today. Shares of both stocks are dipping lower in anticipation.
What appears to be happening today is other stocks falling alongside shares of Microsoft and Apple. This happens from time to time as we’ve seen big players in a space drag down other stocks along with them.
Let’s take a quick look at how exactly Microsoft and Apple are performing today below!
Midday Market Update: MSFT & AAPL
- Microsoft stock is dipping 1.6% lower today with some 12 million shares of the stock changing hands. That’s below the tech company’s daily average trading volume of about 24.9 million shares.
- Apple is up next with the iPhone maker seeing a 2.1% decrease to its stock today. That comes as some 42 million shares of the stock have been traded. To put that in perspective, the stock’s daily average trading volume is closer to 84.5 million shares.
While both Microsoft and Apple shares are down today, it’s worth noting that both are doing well on a year-to-date basis. MSFT stock is up 30.6% and AAPL stock is up 12.6% since the start of the year.
There’s more stock market news for traders to check out below!
InvestorPlace keeps up with the market daily and offers that coverage up to investors. For today, that includes deep dives into what has Orbsat (NASDAQ:OSAT), Workday (NASDAQ:WDAY), and Exela Technologies (NASDAQ:XELA) shares on the move today. You can get all the juicy details at the following links!
More Stock Market News for Tuesday
- OSAT Stock: What Are Retail Investors Saying About Orbsat Today as Shares Surge
- WDAY Stock: The Amazon News That Has Workday Shares Slipping Today
- XELA Stock: What Exela Technologies Investors Are Saying About the Short-Squeeze Candidate Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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