Stocks are flat despite drop in consumer sentiment figures

The Fearless Girl statue faces the New York Stock Exchange, Tuesday, July 20, 2021. Stocks are off to a mixed start on Wall Street, Friday, Aug. 13 as gains for communications and health care companies are checked by weakness in energy and other sectors. (AP Photo/Richard Drew)

Stocks were little changed in early trading Friday, as gains for communications and health care companies are checked by weakness in energy and other sectors.

Investors had little reaction to economic data that showed a drop in consumer confidence last month due to the delta variant of the coronavirus.

The S&P 500, Dow Jones Industrial Average and the Nasdaq were all up less than 0.1%. The three indexes were all wavering between small gains and losses in the first 30 minutes of trading.

Disney rose 3% after the company returned to a profit last quarter, helped by the reopening of its theme parks and more subscribers to its Disney+ service.

Investors got an unexpectedly bad reading on the University of Michigan consumer sentiment index, which fell to 70.2 from its previous level of 81.2 in July. That was the largest drop in sentiment since April 2020, when the pandemic took its initial grip on the country.

The drop in the survey’s reading was almost entirely due to the spread of the delta variant of the coronavirus, which has caused hospitals to fill up with unvaccinated patients across the U.S.

Trading is likely to remain quiet while many on Wall Street take a traditional vacation in late August before things pick up again in September.

7 Stocks That Still Have Upside For Investors to Buy

It can be fun to invest in some speculative stocks. But it should go without saying that those stocks shouldn’t make up the bulk of your portfolio. In fact, it’s important to find a few good stocks that make up the base of your portfolio. These are momentum stocks that are in a strong uptrend.

One way to find such stocks is to look at the most active stocks (or volume leaders). Shares of these companies are among the most traded or have the highest dollar volume of shares traded in a given trading day.

Any stock may crack this list from time to time (for example, when there’s new news about the company). However, stocks tend to find their way on this list consistently that bear watching. That’s because this list indicates that there is pressure among investors to buy or sell the stock. And that makes an investor’s decision very simple.

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View the “7 Stocks That Still Have Upside For Investors to Buy”.