Here Are 3 Hot Things to Know About Stocks Right Now

  • Following the stock market rout on Monday, the Dow Jones Industrial Average, the S&P 500 and Nasdaq all started the day in correction territory, down 10% from their all-time highs.
  • The tech-heavy Nasdaq was able to rally to close the session up after ending in negative territory in 11 of the past 15 sessions.
  • The S&P 500 fell 2.2% on Monday and closed below its 200-day moving average for the first time since the U.K. voted to leave the European Union in June 2016.

Wall Street Overview

Stocks were able to stay afloat in choppy trading Tuesday, April 3, closing the day in the green.

The Dow Jones Industrial Average rose 387 points, or 1.64%, to 24,032. Leading the Dow higher were Nike Inc. (NKE) , UnitedHealth Group Inc. (UNH) and Johnson & Johnson (JNJ) .The S&P 500 closed the day up 1.26%. 

The Nasdaq spent part of the afternoon in the red, but finished strong and rose 1.04%. 

The selloff on Wall Street on Monday, April 2, marked the worst start to April since the Great Depression. Stocks plunged Monday, the first trading day of the second quarter, with the three major indexes tumbling into correction territory. The Nasdaq slumped 2.74%, led by a 5.2% drop in shares of Amazon.com Inc. (AMZN)  after Donald Trump renewed his attacks on the the e-commerce giant, and a 2.8% decline for Facebook Inc. (FB) amid its widening data privacy scandal.

Amazon rose 1.46% on Tuesday, while Facebook climbed 0.46%.

Amazon and Facebook are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells the stocks? Learn more now.

Tesla Inc. (TSLA)  said Tuesday production in the first quarter totaled 34,494 vehicles, a 40% increase from the fourth quarter. Tesla said it produced 24,728 Model S and Model X units in the first quarter. Deliveries totaled 29,980 vehicles, of which 11,730 were Model S, 10,070 were Model X and 8,180 were Model 3. The stock of the electric carmaker rose 5.96%.

Is Tesla ready to shock Wall Street? ���� $TSLA https://t.co/6rY5udzPKL

— Brian Sozzi (@BrianSozzi) April 3, 2018
Ford Motor Co. ( F) said car sales in March rose 3.4%, ahead of estimates of 2.8%, while sales at Fiat Chrysler Automobiles N.V. ( FCAU) gained 13.6% during the month, beating estimates that called for an increase of 3.3%. Ford shares rose 2.76% and Fiat Chrysler jumped 9.22%.
 
General Motors Co. ( GM)  said sales in March jumped 15.7%, well ahead of forecasts of an increase of 3.6%. The biggest automaker in the U.S. said Tuesday the March report would be its last monthly report, and it will instead begin issuing U.S. sales updates on a quarterly basis. The stock gained 3.24%.
Twenty-First Century Fox Inc. ( FOXA) has offered to ring-fence Sky News and possibly sell it to the Walt Disney Co. ( DIS) in its bid to gain approval for its acquisition of Sky PLC  ( SKYAY) .

Disclosures by Britain's Competition and Markets Authority on Tuesday showed that Fox has offered to transfer Sky News to a newly established private company as soon as reasonably possible after the Sky acquisition closes. Fox, in a statement, said that Disney has expressed interest in buying the news channel whether or not Disney's proposed $66 billion acquisition of Fox's entertainment assets proceeds.

Shares of Fox ended the day basically flat, while Disney rose 0.76%. 

CBS Corp. ( CBS)  has prepared a low-ball bid to buy Viacom Inc. ( VIAB) , the owner of MTV and Nickelodeon, the Los Angeles Times reported.
 
CBS' proposed all-stock offer Tuesday near the closing bell. 
 
Viacom declined 6.19%, while shares of CBS rose 4.26%. 
 
Spotify Technology Inc.  ( SPOT) opened trading Tuesday on the New York Stock Exchange at $169.50, well above it's indicated price. Spotify shares closed the day at $149.60. 
Action Alerts PLUS holding Nvidia Corp. ( NVDA) rose 1.95% after the chip company earned a spot on Bank of America Merrill Lynch's US1 list of top investment ideas.

Retirement is coming. It's never too early -- or too late -- to plan, save and invest for the retirement you want and deserve. Let TheStreet's new premium subscription newsletter, Retirement Daily, give you the insider's edge on how to maximize and protect your most important investment, your retirement savings. Learn more about Retirement Daily and get a free trial subscription.

 

More from Markets

Stocks Turn Negative for the Year, Dow Drops Another 500 Points

Stocks Turn Negative for the Year, Dow Drops Another 500 Points

Jim Cramer's Advice for Investors During a Bear Market

Jim Cramer's Advice for Investors During a Bear Market

Tech Stocks Continue to Take Beating

Tech Stocks Continue to Take Beating

Amazon Reportedly Among Bidders for Disney's Regional Sports Networks

Amazon Reportedly Among Bidders for Disney's Regional Sports Networks

Making Sense of the Mysterious Strategic Petroleum Reserve

Making Sense of the Mysterious Strategic Petroleum Reserve