Shares of Twitter are soaring right now, but this is the big caveat, according to traders

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Your Morning Bullets Brief Updates are here! And that means trivia is, too.

In what year did investors experience the worst Dow Jones Industrial Average performance in history? Can you guess how much the benchmark dropped?

Think you know the answer? You can check it in the closing area down below!

5 things to know before the stock market opens today

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Yesterday the Nasdaq Composite endured its worst performance since October. The Dow Jones Industrial Average shed 559 points, and the S&P 500 lost 2.5%.

Each of the stock indexes were poised for overall losses this week, with the Nasdaq barely hanging onto its monthly gain. The Dow and the S&P 500 are still tracking for February increases, regardless of this week’s drops.

Meanwhile, the 10-year Treasury yield, which had skyrocketed yesterday, is still above 1.4% today.

Many are worried that President Joe Biden’s massive stimulus bill, set to pass in the House today, could overheat the economy. The behemoth relief package hit a snag in the Senate, with the parliamentarian determining that they could not include a federal minimum wage in their bill.

Also today, an advisory panel for the FDA will vote on whether or not to recommend a single-shot vaccine for emergency approval.

And shares of DoorDash fell this morning after the company gave its first public report.

What else should you know this morning?

Other News That Matters To You:

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And we’re going public with our groundbreaking presentation, detailing the full extent of this incredible opportunity and how anyone age 18 and older can get an early stake in what MIT is calling “the next technological revolution.”

 

Shares of Twitter are soaring right now, but this is the big caveat, according to traders

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Shares of Twitter are surging right now, following the news that the social media platform plans to double its annual revenue by 2023’s end, and grow its users to more than 315 million people. Officials have also explored a subscription model going forward.

However, some experts believe a  pullback is around the corner.

“The problem is, on a technical basis, it’s also getting incredibly overbought,” said Matt Maley of Miller Tabak. “If you really like this one and believe what they’re saying, [I’d] let it come back to you, I think it’s going to see a pretty decent pullback before too long.”

Similarly, Nancy Tengler of Laffer Tengler Investments, said: “We own the stock, we’ve been selling stock for the past few months and weeks. I think a lot of the good news is already reflected in the price of a stock.”

If, like me, you’re having a hard time stomaching Twitter after all the haphazard censorship, this pullback prediction is yet another reason to stay away from the stock. 

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Fredrick Frost

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