Stock Markets Fall Back Despite Rising Snowflake; Twitter Gets an Upgrade
Volatility remained par for the course on Wednesday, and stock-market benchmarks fell back from their gains the previous day to lose ground. Despite a strong earnings report from Nike (NYSE: NKE), the Dow Jones Industrial Average (DJINDICES: ^DJI) wasn't able to hold its opening gains. Declines for other benchmarks were somewhat larger. Just after 11 a.m. EDT, the Dow was down 24 points to 27,265. The S&P 500 (SNPINDEX: ^GSPC) lost 13 points to 3,303, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) sank 75 points to 10,888.
Even in the down market, though, hot stocks remained hot. Recent IPO Snowflake (NYSE: SNOW) showed the staying power of its stock by moving significantly higher Wednesday morning. For Twitter (NYSE: TWTR), favorable comments from stock analysts point to the potential for further gains.
Shares of Snowflake picked up more than 6% Wednesday morning. The cloud-computing stock has gotten a lot of attention because of its massive move on its first day of trading, but a lot will ride on what happens in the first months after its IPO.
Source Fool.com
