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Mar 23, 2023 thejournalbiz

Stocks were rebounding in midday trading Thursday after falling sharply Wednesday!

The Dow Jones Industrial Average was up 1.2%. and the Nasdaq Composite was up 2.1%.

Tweet on trending stocks

Marketwatch:
Coinbase (COIN): the stock was down around 11%
First Republic Bank (FRC): stock plunged 15% https://t.co/ShdJlrYZOX, Alibaba, Baidu & PDD were up 5%
Chewy (CHWY): shares were down 9%
Accenture (ACN): stock was up about 8%
Ford (F): the stock was up 2%#Trending pic.twitter.com/CficdvY88V

— The_Journalbiz (@the_journalbiz) March 23, 2023

Factset chart on market

Trending stocks today are:

Coinbase (COIN): The crypto exchange said the Securities and Exchange Commission plans to sue it for violating investor-protection laws. Coinbase stock was down around 11%.

First Republic Bank (FRC): The troubled lender’s stock was roughly flat after rising about 8% earlier. It had plunged 15% Wednesday after Janet Yellen’s comments that not all bank deposits may be guaranteed by the Treasury Department.

JD.com (JD): American depositary receipts in JD.com and other Chinese internet companies such as Alibaba, Baidu and PDD were up 5%. This came after the Federal Reserve signaled it might end its rate-rise campaign sooner than recently seemed likely, and after strong results from Tencent.

Chewy (CHWY): The online pet-products retailer reported a surprise drop in active customers from a year ago. Its shares were down about 9%.

Accenture (ACN): The consultancy company reported a 5% rise in quarterly sales to $15.8 billion and higher-than-expected earnings per share. Its stock was up about 8%.

Ford (F): The car maker reiterated its forecast for $9 billion to $11 billion in operating profit this year, and said it expects to lose about $3 billion on its electric-vehicle business this year. Its stock was up 2%.