US stocks finish moderately lower after a lively ride

Stocks started strong, with futures particularly high, but there was some profit-taking right out of the gate, especially in high flyers like Tesla and Apple.

For tax reasons, many investors were to waiting for the new year to take profits, and some high flyers struggled today. Tesla’s delivery numbers were soft, and Apple faced demand issues in China, cutting prices as a result. Both were beaten up.

Tech stocks as a whole faced some challenges but showed resilience by bouncing off their lows, indicating there’s still solid demand there.

Closing changes:

• S&P 500: -0.2%
• Nasdaq Comp: -0.2%
• DJIA: -0.3%
• Russell 2000: +0.1%
• Toronto TSX Comp: +0.7%

Technically, I don’t love what I’m seeing in the Nasdaq though after the break of the post-Powell lows, there was a bounce. That will need to hold on Friday.

This article was written by Adam Button at www.forexlive.com.