S&P 500 (SPX) Nasdaq (QQQ) Update: Equity markets take a well deserved breather, crypto stocks slide

Update: Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates. Bitcoin was causing trouble for crypto stocks with COIN down 3% and bitcoin miners also suffering. 

Sectors: No sectors were in the green on Monday. Real Estate and Healthcare sectors led the way while Consumer Discretionary and Tech were the biggest losers.

Selected stocks: Tesla -5%, COIN -3%, GME +9%, Peloton -8%, Moderna -6%, PLUG -7%, PLTR -4%, AAPL +0.2%.


Here is what you need to know on Monday, April 19:

Equity markets remain stable on Monday as continued optimism about the reopening trade bolstered equity markets despite fears over lofty valuations. Sentiment was further aided by continued strength in earnings, with Coca-Cola adding to the growing list of earnings beats. Bitcoin had a jumpy weekend, dropping from $59,000 to nearly $51,000 in the space of an hour. This means crypto-related stocks such as our new favourite COIN will need close inspection. The dollar finally gives up 1.20 as EUR/USD hits 1.2030. Oil is steady at $62 and gold similarly unmoved at $1,776. Yields remain steady at 1.58% for the 10-year.

See Forex today

European markets are now just in the red with FTSE -0.1%, DAX also -0.1%, and the EuroStoxx -0.2%. 

US futures are also pointing lower with the Nasdaq -0.5%, Dow -0.2%, and the S&P 500 -0.3%.

See bitcoin latest


Stay up to speed with hot stocks' news!

S&P 500 (SPX SPY) Nasdaq (NDX QQQ) top news

Bitcoin, COIN: Li Bo, deputy governor of the People’s Bank of China, says Bitcoin is an "investment alternative" during a panel hosted by CNBC in China.

US CDC says half of all US adults have received at least one dose of covid vaccine.

GameStop (GME) loses another senior executive as GME says CEO George Sherman will resign. Roaring Kitty, aka Keith Gill, also reportedly buys another 50,000 shares of GameStop by exercising options, Bloomberg. see more.

Coco-Cola (KO) beats on revenue and EPS. see more.

Peleton (PTON) Consumer Product Safety Commission says users with pets or young children should not use Peleton's treadmill. Peleton says the guidance is "inaccurate and misleading." Shares down 6% in pre-market.

Harley Davidson (HOG) beats EPS, revenue in line, raises guidance. The alpha male, US motorcycle manufacturer appealed an EU ruling that may mean large tarriffs on sales. Shares up 8% premarket.

M&T Bank (MTB) Q1 results beat on revenue and EPS.

Coinbase (COIN) CEO sold $292 million worth of shares in COIN during the first day of trading, according to SEC fillings.

Manchester United (MANU): Top European clubs to form breakaway Super League.

Pfizer/BioNTech: EU takes up an option to purchase another 100 million doses of covid vaccine.

Ups and downs

Abercrombie & Fitch: JPMorgan raises price target.

Zynga: BMO initiates as outperform.

Innoviz Technologies: Goldman Sachs initiates a neutral rating with a $11 price target.

Kansas City Southern: Raymond James downgrades to outperform, raises price target.

Netflix: Bank of America reiterates NFLX as a buy.

Peloton: Bank of America lowers price target.

Alphabet (GOOGL): JPMorgan raises price target.

SNAP: JPMorgan reiterates as overweight.

Economic releases

Quiet today with US 3 and 6-month governement bill auction due at 1130 EST / 1530 GMT. 

United Airlines releases Q1 2021 results after the market closes. 


At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor. 

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page. 

Errors and omissions excepted.










Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: EU vaccine deal helps extend US NFP-led run-up to fresh multi-day top towards 1.2200

EUR/USD begins the week with an uptick to refresh highest levels since February 26, wobbles around the top of late. EU battles for more vaccines as jab jitters disappoint the bloc members, Brexit, sluggish data add to the fears. DXY marked the biggest daily losses in six months after NFP debacle.


GBP/USD: Bulls on top in the open, but W-formation is compelling

GBP/USD is a mixed picture for days ahead as the price extends higher but leaves a bearish chart pattern on the daily time frame. The monthly chart is bullish while above the support structure as the price runs deeper into the supply territory.


Dogecoin: Defending 21-DMA is critical for DOGE after Musk calls it a ‘hustle’

The selling pressure in the Dogecoin (DOGE/USD) remains unabated for the second straight day on Sunday, as the corrective mode from all-time highs of $0.7605 remains intact. DOGE bulls remain hopeful as 21-DMA support holds, with RSI still bullish.

Read more

GBP/USD: Bulls on top in the open, but W-formation is compelling

GBP/USD is a mixed picture for days ahead as the price extends higher but leaves a bearish chart pattern on the daily time frame. The monthly chart is bullish while above the support structure as the price runs deeper into the supply territory.


S&P 500, Nasdaq Week Ahead: Fed to markets, we have your back never mind the jobs report!

Well after a fairly sluggish start to the week things certainly sprang to life on Friday as a brutal employment report was a catalyst for a strong rally! Go figure. Well, the logic is actually not as stupid as it first appears. Bears have been hibernating and face possible extinction.

Read more