It was a relatively calm week on Wall Street, but some of the market's biggest stocks may be losing their grip.
 | FRI, FEB 19, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 129.87 | +0.16 | +0.12% | | INTC | 63.01 | +1.40 | +2.27% | | MSFT | 240.97 | -2.82 | -1.16% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 129.87 | +0.16 | +0.12% | | GE | 12.02 | +0.39 | +3.35% | | BAC | 34.54 | +0.35 | +1.02% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 129.87 | +0.16 | +0.12% | | AMD | 89.58 | +0.94 | +1.06% | | INTC | 63.01 | +1.40 | +2.27% | |
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It was a relatively calm week on Wall Street, but some of the market's biggest stocks may be losing their grip. The Invesco QQQ Trust, a popular exchange traded fund that holds megacap tech stocks, finished down for all four sessions of the holiday-shortened period. The decline was broad based among its major holdings. Shares of Apple, Microsoft, Tesla and Alphabet all finished negative for the week. The weakness for Big Tech has come as a strong earnings season comes to a close and as the key 10-year Treasury yield has steadily climbed toward pre-pandemic levels. However, the slippage from some of the market's biggest names doesn't have Wall Street strategists warning of a larger pullback just yet. "Now that the earnings parade has stopped as well, it's not surprising that things have slowed down. It doesn't mean that we're going to have a correction," said Brian Belski of BMO Capital Markets on CNBC's "Power Lunch." |
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