BY THE NUMBERS
With elevated Treasury yields pulling back a bit and recently struggling tech stocks bouncing, the Nasdaq was set to recoup much of Monday’s more than 2.4% loss, which dragged the index into a correction, down more than 10% from February’s record closing high. But Tuesday’s projected gains would be more than enough to pull the Nasdaq out of a correction. (CNBC)
Dow futures rose modestly Tuesday, one day after the 30-stock average closed up nearly 1%. At session highs, the Dow gained more than 2%, hitting an intraday record and logging a second straight day of gains. Bitcoin was on the march higher Tuesday morning, again topping a $1 trillion market value. (CNBC)
* Today’s biggest analyst calls: Home Depot, Lowe’s, Avis, Chipotle, Tesla (CNBC)
IN THE NEWS TODAY
Shares of Tesla rose in Tuesday’s premarket after falling 21% over five straight down days. The stock, still up 300% over the past 12 months, was off more than 36% from January’s all-time record highs. Elon Musk‘s electric auto maker, no stranger to wild swings, did see spans of bear market declines in both March and September 2020. (CNBC)
Ark Investment Management founder Cathie Wood, a major Tesla investor and believer, told CNBC on Monday that she’s not worried about the recent drop in her funds and that the bull market in stocks is simply broadening out to include more strategies, such as value. (CNBC)
* Cathie Wood’s Ark Innovation fund is set for a big rebound Tuesday (CNBC)
* Cathie Wood says she’s…
