Why Ford and Fastly Flew on a Quiet Stock Market Day
Thursday was a quiet day for the stock market, with most major market benchmarks giving up early gains and moving modestly lower by midday. Investors have already gotten an amazing start to 2021, sending the stock market to all-time highs yet again, and now they appear to ready to wait and see what the near future will bring. As of just 12:30 p.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 48 points to 31,141, and the S&P 500 (SNPINDEX: ^GSPC) fell three points to 3,849. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) worked its way still higher into record territory, rising 28 points to 13,485.
Red-hot tech stocks have been market leaders for quite a while, so it's not terribly surprising to see edge computing star Fastly (NYSE: FSLY) among the big winners in the market on Thursday. However, Ford Motor (NYSE: F) has been stealthier, largely flying under the radar until posting a sizable gain today.
Shares of Ford were up more than 7% on Thursday at midday. That brought the automaker stock's gains to 33% in the first three weeks of 2021, and many investors think that Ford has more in the tank to keep climbing higher.
Source Fool.com
