The major US stock indices are closing the day with mixed results:

• Dow industrial average is down -38.31 points or -0.13% at 29888.79
• S&P index is up 8.09 points or 0.22% at 3674.85
• NASDAQ index is up 152.26 points or 1.42% at 10798.36
• Russell 2000 is up 15.85 points or 0.96% at 1665.69

Some details for the day:

• Major indices are down for the 3rd straight week
• The Dow was down -274 point at the session low
• The S&P was down -29.95 points at the session lows
• The Nasdaq was down only -7.3 points that the session lows
• NASDAQ index trades -33.4% below its record high
• S&P is -23.7% below its record high
• Dow is down -19.12% below its record high. At the lows week the Dow industrial average was down -19.75% from its all-time high just short of bear market territory.
• The NASDAQ index closed just above its 200 week moving average at 10795.92 averting the first close below that level since the week of March 16.

For the week:

• Dow industrial average fell -4.7%
• S&P index fell -5.78%
• NASDAQ index-4.68%
• Russell 2000 fell -7.48%

The heads up for the huge options expirations day on Friday has been the subject of much chatter all week. Now that the FOMC is out of the way I thought I’d join in!

Coming up on 17 June 2022, Friday is options expiration. Its a monster one.

• Goldman Sachs put the amount at US$3.4 trillion of option notional to expire
• It’s also a three-day weekend, Monday 20 June is a Federal holiday. The impending break will add to volatility.

• S&P 500 -14 points to 3735 or -0.4%
• Nasdaq +0.2%
• Russell 2000 -0.3%
• DJIA -0.5%
• Toronto TSX Comp -0.9%

US stocks opened higher and made a decent push to the upside just after lunch in New York. The sellers hit shortly after that and stocks fell to the lows of the day. A late rebound erased that damage and the market closed near unchanged. That was at least a bit of stabilization after the 4% plunge yesterday and it comes with more hefty moves in bonds.

• 2-year +15 bps to 3.426%
• 5-year +12.8 bps to 3.59%
• 10-year +12 bps to 3.48%
• 30-year +6 bps to 3.43%

The stronger than expected CPI reversed premarket stock gains and pushed the major  indices  lower. A weaker Michigan consumer sentiment didn’t help with the overall sentiment.

• The weekly percentage declines in the Dow, S&P, and  NASDAQ  weeks was the worst since January 21
• Major indices closed near lows for the day
• Dow Jones is down 10 of the last 11 weeks
• NASDAQ and S&P is down 9 of the last 10 weeks
• All 11 S&P sectors were lower. The worst sector was consumer discretionary which fell over -4.1%. Technology fell -3.9%, Financials fell -3.65%. Consumer staples was the best performer at -0.38%

The final numbers for the day are showing:

• Dow industrial average fell -880.02 points or -2.73% at 31392.80
• S&P index fell -116.96 points or -2.91% at 3900.85
• NASDAQ index fell -414.19 points or -3.52% at 11340.03
• Russell 2000 fell -50.57 points or -2.73% at 1800.28

For the trading week:

• Dow fell -4.58%
• S&P index fell -5.08%

• NASDAQ index fell -5.6%
• Russell 2000 fell -4.41%

Looking at the Dow 30, the worst performers were:

• Dow, -6.06% -6.06%
• Goldman Sachs -5.48%
• Boeing, -5.05%
• J.P. Morgan, -4.65%
• Salesforce, -4.6%

The only winning stock in the Dow was Walmart with a gain of +0.63%. The best of the worst showed:

• Verizon fell -0.16%
• Procter & Gamble fell -0.36%
• Walgreens boots fell -0.43%
• Coca-Cola fell -0.58%

After the close Tesla has proposed a 3 for1 stock split. The stock closed at $696.69. In after-hours trading it is trading up to $716.23.

Amazon shares went through their 20 for 1 stock split this week. For the week after a rise on Monday, the shares are ending the week down -10.38%.