Financial Headlines 2.23

The Dow picked up 15 to wrap Monday Trading at 31537, while The Nasdaq wobbling continued, as the index dropped 67 to finish trading at 13465. The S&P added 4 to close Tuesday’s session 3881 and change.

Trying to keep a stiff upper lip in RETAIL..big box giant Best Buy gives pandemic-related bonuses to employees amid company layoffs as the company pivots to increase online sales...

The consumer electronics retailer announced the bonuses on Tuesday, about two weeks after it confirmed it will lay off some store staff as part of a companywide reorganization. The layoffs were first reported by The Wall Street Journal. It did not say how much the bonuses will cost the company. Best Buy’s sales have surged as consumers turned to its stores and website for laptops, video game

consoles, kitchen appliances and other equipment to learn, work and entertain themselves at home during the pandemic. Its online sales nearly tripled in the third quarter Best Buy shares closed at 115.98 in Tuesday trading.

After yesterday’s TECH’s some good news…with The Wall Street journal reporting that Tech Stocks Bounce Back as Rate Fears Ease…not all issues had a positive response, including TESLA, which took it in the shorts for the second straight day, closing below 700 at the end of the session.

Tech stocks rebounded from an early swoon after Federal Reserve Chairman Jerome Powell pledged anew to support the economic recovery, easing concerns about the impact of rising interest rates on the monthslong rally in major U.S. indexes.

The Nasdaq Composite Index dropped 0.5% Tuesday after earlier falling as much as 4% earlier in the day.

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