Market Volatility Continues as Dow Jones Futures Slide, Cathie Wood Makes Strategic Moves

The Dow Jones Industrial Average dropped 340 points after a strong monthly employment report, while Cathie Wood's Ark Invest ETFs sold Tesla stock and purchased Meta Platforms shares. Economic data hitting the markets included ADP's June National Employment Report, which showed a surge in jobs, and the Labor Department's report on first-time claims for unemployment assistance, which showed a slight rise. Other data included the S&P Global Services Purchasing Managers' Index, the June Institute for Supply Management services index, and the Labor Department's JOLTS report. Dow Jones tech giants Apple and Microsoft were lower, while Chipotle Mexican Grill, Dynatrace, MongoDB, Lam Research, and Nvidia were among the best stocks to watch.