These 2 Nasdaq Stocks Are Weighing on Wall Street

Wall Street never likes uncertainty, and Washington is often a source of consternation for investors. On Tuesday morning, stocks appeared set to open lower as worries arose over whether lawmakers will be able to raise the debt ceiling and avoid a default by the U.S. Treasury. Declines in stock index futures weren't huge, but it appeared that the Nasdaq Composite (NASDAQINDEX: ^IXIC) could open down as much as half a percent.

Adding to the downward pressure on the Nasdaq were earnings reports from a pair of well-known stocks. PayPal (NASDAQ: PYPL) wasn't able to mount the recovery that shareholders have been waiting to see for months now, while Lucid Group (NASDAQ: LCID) is still struggling to hit the accelerator and take full advantage of the explosion in interest in electric cars and trucks. Read on to get the details on why PayPal and Lucid are holding back the Nasdaq.

Shares of PayPal dropped 7% early Tuesday. The payment network specialist's stock is approaching levels not seen in more than five years, even though there are some signs that its fundamental business prospects might turn around.

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Source Fool.com