Wednesday's Winners and Losers Show What Investors Want Now
Wall Street tried to mount a modest recovery to start the day on Wednesday, but more pessimistic views on what the immediate future could bring in terms of armed conflict in Ukraine and macroeconomic pressures across the globe ended up prevailing by midday. As of 11:30 a.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 95 points to 33,502. The S&P 500 (SNPINDEX: ^GSPC) dropped 22 points to 4,282, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 116 points to 13,265.
At an individual stock level, though, there was considerable disparity between the winners and the losers on the day. Investors are increasingly looking at traditional value plays in industries that have largely fallen off the radar, with an eye toward capitalizing on factors that could enhance their financial prospects in the years to come. Meanwhile, high-growth technology stocks remained under pressure, even when their underlying businesses continued to look sound. Below, we'll look more closely at how Tenneco (NYSE: TEN) and Monday.com (NASDAQ: MNDY) fared and how they're indicating continued tension within the stock market.
Image source: Getty Images.
Source Fool.com
