US stocks close lower but well off the lows

  
Analysis, US Market

Beyond Meat IPO helps to save the day

The US stocks were moving lower in the US morning session, but an IPO for Beyond Meat which was priced at $25, opened at $46 and move sharply higher from there (trading up 163% on the day at $64.90).
Now a small-ish IPO does not make a market, but it did take some of the sting out of the declines which saw the Dow down about -250 points at the lows. It is ending with half those losses.  The Nasdaq is down for the 3rd day. The S&P and Dow are down for the 2nd day.
The numbers at the close are showing:
  • The S&P index -6.21 points or -0.21% at 2917.51. The low reached 2900.50 (nice round number)
  • The Nasdaq fell -12.867 points or -0.16% at 8036. The low reached 7976.
  • The Dow fell -122.35 to 26307. The low reached 26180.36.
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