Dow Jones Futures: Market Correction Extends Losses; Four Stocks In Beat-Up Sector Worth Watching - Investor's Business Daily

The stock market extended losses Wednesday even as the 10-year Treasury yield retreated modestly.

Microsoft stock and Palo Alto Networks (PANW) gained ground on Wednesday, while Fortinet (FTNT) and New Relic (NEWR) reversed lower, but outperformed the general market.

All are below their 50-day lines, especially Microsoft (MSFT).

But Apple stock fell 2.1% on Wednesday to 166.23, finally closing below its 50-day line.

FTNT stock and Microsoft are IBD Long-Term Leaders.

AA stock rose modestly in extended trade.

UAL stock fell modestly in overnight action after closing down 2.65%, below its 50-day line.

American Airlines stock slumped 3% Wednesday after dropping below its 50-day line on Tuesday.

Union Pacific stock rose a fraction on Wednesday, but is still below its 50-day line after Tuesday's 3.3% tumble.

Baker Hughes stock retreated 1.9% to 26.29, just below a 27.76 buy point.

The stock market opened higher Wednesday but reversed lower and closed near session lows.

The Dow Jones Industrial Average lost nearly 1% in Wednesday's stock market trading.

The 10-year Treasury yield fell about 4 basis points to 1.83%, retreating from two-year highs.

The Energy Select SPDR ETF (XLE) retreated 0.7% and the Financial Select SPDR ETF (XLF) fell 1.7%.

MSFT stock is in a flat base with a 349.77 buy point, according to MarketSmith analysis, but shares are still 8% below their now-declining 50-day line.

The relative strength line for Microsoft stock has retreated from November highs, but that's after a solid advance for most of last year.

FTNT stock has bounced a little from its Jan.

Fortinet stock fell back from intraday highs of 323.16, hitting resistance near its 21-day line.

The RS line for FTNT stock is not far from highs.

Palo Alto stock rose 3.4% to 519.61, closing in on its 50-day line.

NEWR stock got above its 50-day line intraday, which might have signaled an early entry in a better market.

But New Relic stock closed down 0.4% at 105.61.

The stock market entered a correction after Tuesday's fierce sell-off to break below key levels.

The big-cap Nasdaq 100, led by Apple stock and Microsoft, is nearing its 200-day line.

The Russell 2000, which undercut its December lows on Tuesday, fell to its lowest level in more than a year, undercutting a long consolidation.

Software rose slightly Wednesday, led by PANW stock and a few others, but closed well off highs.

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