Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Blockchain Could Boost Covered Bonds, but Adoption Faces Major Hurdles: Moody’s

July 31, 2025

Pi Network price prediction for August 2025 – Can it reverse 75% losses? 

July 31, 2025

No Fed Action in Key Market Week; Mortgage Rates Flatten

July 30, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Thursday, July 31
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Stock Market»Stock Market Reverses Lower; Shake Shack, Meta Platforms Lead, But 3 Growth Stocks Hit Danger Zone
Stock Market

Stock Market Reverses Lower; Shake Shack, Meta Platforms Lead, But 3 Growth Stocks Hit Danger Zone

August 1, 2024No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Indexes saw a reversal in the downward direction while megacap tech stocks experienced mixed results on the first day of August. Meta Platforms (META) emerged as a top performer in the stock market today, with a 9% increase fueled by strong second-quarter results and a strategic plan to leverage AI technology for future growth. However, chip designer Arm (ARM) faced a significant decline of over 12% due to disappointing earnings.




↑
X



NOW PLAYING
Techs Lead On AI, Rate-Cut Optimism; Arista Networks, Dycom, TransDigm In Focus



Arm triggered an IBD sell rule by dropping significantly below its 10-week moving average of around 152 last week, and further declining below this line in the current week. Strong stocks typically find support at their 10-week line rather than breaking below it.

By around 10:30 a.m. ET, the Nasdaq composite gave up its early gains, turning a 0.9% increase into a 0.1% loss. Similarly, the S&P 500, initially up by 0.5%, also shifted to a 0.1% decline.

In July, the S&P 500 recorded a 1.1% gain, marking its third consecutive monthly increase. However, the Nasdaq closed the month with nearly a 0.8% decrease, ending a two-month winning streak.

Stock Market Today

The Dow Jones Industrial Average declined by 0.6% in today’s stock market. The Russell 2000 also experienced a 1.4% drop after an impressive 10% surge in July.

Trading volume on the NYSE and Nasdaq was lower compared to the same time on Wednesday, as indicated on the MarketSurge homepage.

In economic news, weekly initial jobless claims rose to 249,000 in the latest reported week, surpassing expectations of 236,000 and exceeding the highest individual forecast on Econoday.

On the positive side, restaurant chain Shake Shack (SHAK) surged above its declining 50-day moving average after reporting better-than-expected earnings and sales. However, the stock requires more time to form a solid base, offering a timely opportunity for potential share purchase before a significant price increase.

Three Growth Stocks Showing Troubling Action

Conversely, Marriott (MAR) and United Therapeutics (UTHR) exhibited bearish movements post their quarterly earnings announcements.

United Therapeutics breached its 21-day exponential moving average following the results, with earnings growth of 12% displaying a deceleration trend for the second consecutive quarter. Sales increased by 20% to $715 million.

While the stock rebounded by 2% on Thursday, monitoring a test of its 10-week moving average is recommended. United Therapeutics had previously cleared a valid buy point at 250.89 after Q1 earnings on May 1.

Marriott, on the other hand, plummeted through its 50-day and 200-day moving averages with heavy trading volume post-results (EPS up 11% to $2.50, sales up 6%).

Looking back at Arm, the UK-based semiconductor company witnessed a significant drop of nearly 12% last month due to disappointing outlook in today’s stock market.

Since its return to the stock market last year after being sold by Japan-based investment firm Softbank, Arm’s stock has experienced substantial growth. Following an IPO at $51 per share, Arm’s stock price more than tripled at its peak.

Beyond The Stock Market Today

The yield on the U.S. Treasury 10-year bond decreased to 4%, based on Cboe data. This marked the lowest levels since February ahead of the upcoming report on July nonfarm payrolls.

Crude oil futures on the NYMEX dropped by nearly 1% after a more than 4% rally on Wednesday.

Follow Chung on X/Twitter for more updates: @saitochung and @IBD_DChung

YOU MIGHT ALSO LIKE:

Interested in learning how to select great stocks? Check out Investor’s Corner

Watch the latest IBD Videos

Get insights on the Stock Market Today and the outlook for the next 6 months

Check out the IBD 50 Stocks To Watch

Remember, this is still the golden rule of investing

Danger growth Hit Lead Market Meta Platforms Reverses Shack Shake Stock stocks Zone
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

No Fed Action in Key Market Week; Mortgage Rates Flatten

July 30, 2025

Why we should be cheering for the mom-and-pop investors in the housing market

July 29, 2025

How to get free stocks: 6 ways to earn free shares

July 27, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Eurozone “Recovery” Still Ongoing | ZeroHedge

January 31, 20250 Views

2025 Spring Housing Market: Why It’s So Weird

April 23, 20250 Views

How to Avoid the New ‘Shoulder Season’ Crowds

September 5, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Crypto

Blockchain Could Boost Covered Bonds, but Adoption Faces Major Hurdles: Moody’s

July 31, 20250
Crypto

Pi Network price prediction for August 2025 – Can it reverse 75% losses? 

July 31, 20250
Personal Finance

No Fed Action in Key Market Week; Mortgage Rates Flatten

July 30, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.