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Stocks open lower on Wall Street as earnings start to flow

Tuesday, April 20, 2021 | The Associated Press


A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Tuesday, April 20, 2021. Asian stock markets were mixed Tuesday after Wall Street was pulled lower by tech stock declines. (AP Photo/Kin Cheung)

Stocks were mostly lower in early trading on Tuesday as investors started digesting company earnings reports that are steadily coming out this week.

Ther S&P 500 index was down 0.1% as of 9:55 a.m. Eastern. The Dow Jones Industrial Average fell 0.3% and the technology-heavy Nasdaq rose 0.1%.

Investors are in the middle of first-quarter earnings season. Roughly 80 members of the S&P 500 will report their results this week, as well as one out of every three members of the Dow. Wall Street will be looking to see if Corporate America is recovering with the rest of the economy from the coronavirus pandemic.

On average, analysts expect quarterly profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.

United Airlines fell 5% after reporting a loss that was wider than analysts were expecting, and drugmaker Abbott fell after reporting revenue that fell short of forecasts.

Kansas City Southern jumped 15% after another Canadian railway company offered to buy the railroad for $33.7 billion, far higher than a $25 billion offer made by Canadian Pacific last month.

Apple will be in focus as the company makes its latest product announcements later Tuesday. Analysts are not expecting anything blockbuster out of Apple at this event, except for some major refreshes of the company's popular iPad.

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7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the "7 Stocks That Cathie Wood is Buying And You Should Too".


Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Kansas City Southern (KSU)1.9$305.80-0.8%0.71%50.55Buy$237.07
United Airlines (UAL)1.2$51.01-3.2%N/A-3.10Hold$55.11
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