10 Top-Traded US Stocks for Tuesday (7/6)

Movers and Shakers joined discussion · Jul 7, 2021 10:50

The stock market finished mixed after a choppy trading day, with tech bouncing back from midday weakness and cyclicals struggling as rates fell. The SPX -0.20% ended well off its lows, Nasdaq +0.17% managed to close higher, Dow -0.60% lagged on weakness from Caterpillar, Amgen and Goldman.

Megacaps stocks finished mixed, with Tesla falling, but Amazon rallying to a new record high as the Pentagon announced a new multivendor cloud computing contract.

10 top-traded US stocks for Tuesday

Among news driven moves, $Amazon (AMZN.US)$and $Microsoft (MSFT.US)$were among the most high profile. The tech giants moved on the news that they found themselves in the spotlight after the Pentagon canceled the controversial $10B JEDI contract.

$Tesla (TSLA.US)$drifted lower as a former CEO at Ford said Tuesday that Tesla faces increased competition in the electric vehicle space as "everyone is coming to the party with great products."

$DiDi Global (Delisted) (DIDI.US)$plunged after local regulators ordered its app to be removed from app stores in the country, dragging stakeholder UBER with it.

$Alibaba (BABA.US)$BIDU JD PDD WB outlier among Chinese names as it soared on headlines it is being taken private.

$Virgin Galactic (SPCE.US)$edged up a bit while there's plenty of room for more positive catalysts, UBS noted the news flow could slow in coming months with the flight program shutting down for maintenance early next year. There are also coming expirations of share lock-ups for roughly 30% of the float.

A drop in oil prices sparked a sell off in shares of major oil and gas related firms which includes $Occidental Petroleum (OXY.US)$.

As traders got back to work after the three day holiday weekend, some major macro themes dominated trading on Tuesday. One of these related to security, as news of a major ransomware attack sparked gains in $FireEye Inc (FEYE.US)$.

Movers & Shakers for Tuesday