Wall Street wrapped up a volatile week of trading with tech shares struggling.
 | FRI, JUL 24, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | INTC | 50.59 | -9.81 | -16.24% | | AAPL | 370.46 | -0.92 | -0.25% | | MSFT | 201.30 | -1.24 | -0.61% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 69.40 | +9.83 | +16.50% | | INTC | 50.59 | -9.81 | -16.24% | | GE | 6.86 | -0.18 | -2.56% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 69.40 | +9.83 | +16.50% | | INTC | 50.59 | -9.81 | -16.24% | | AAL | 11.39 | -0.38 | -3.23% | |
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Here's another sign the market's dramatic comeback has reached its peak: many more corporate executives are selling than buying their companies' stocks. CNBC's Maggie Fitzgerald writes that the ratio of companies with insider buying compared to insider selling is at 0.27, the lowest level since at least 2000. The data comes from the Washington Service, a provider of insider trading and data analytics. The ratio showed quite the opposite when the market hits its lows in March, with executives loading up on shares. "Insiders broadly thought the March sell-off was over-pessimistic," Raymond James analyst Tavis McCourt told CNBC. "As the market's recovered, we've just seen more selling, less buying."  Stocks fell Friday and the major indexes finished the week with small losses as technology shares struggled amid rising trade tensions with China and skepticism over the high valuations they've achieved. It's been a volatile week, characterized by spiking coronavirus infections, stalled reopenings and rising claims for unemployment benefits. Investors may see more of the same next week. "We're surrounded by this uncertainty, not just in markets, but also around every corner of everyday life," said Johan Grahn, head of ETF strategy at Allianz Investment Management. "It's really hard to see this volatility … go away anytime soon." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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