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US Indices take a Friday fall to finish the week slightly lower

  
Analysis, US Market
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On the day:
  • S&P 500 down 2.8%
  • DJIA -2.6%
  • Nasdaq -3.2%
  • TSX -1.0%
On the week:
  • S&P 500 down down 0.2%
  • DJIA -0.2%
  • Nasdaq -0.3%
  • TSX +1.4%

Here is a look at the weekly S&P 500 chart. That latest candle isn’t a pretty one:

A look at US and Canadian markets

The big names have now reported earnings, but what is expected for the May4/8 week

  
Analysis, US Market
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Key earnings for the week of May 4 to May 8

This week we had the likes of Alphabet, Facebook, Microsoft, Tesla, Visa, Starbucks, Apple all release.  That takes a lot of fire power out of next weeks potential.
Nevertheless, there are some interesting companies reporting. Disney, Paypal, T-Moibile, GM are some of the bigger, more notable names on the list.. Below is a list of those earnings:
Monday, May 4th
  • Cirrus Logic
  • Pitney Bowles

Tuesday May 5th

  • Allegan
  • Electronic Arts
  • Beyond Meat
  • Disney
  • Sprint
  • Cheesecake Factory
  • Planet Fitness
Wednesday, May 6
  • Marathon oil Corporation
  • Hyatt hotels
  • Wendy’s
  • General Motors
  • T mobile
  • PayPal holdings
  • Lyft
  • Square
  • Peloton
Thursday, May 7
  • Bristol-Myers Squibb
  • Raytheon technologies

NASDAQ index leads the way higher on coronavirus treatment hopes

  
Analysis, US Market

Remdesivir news helps stocks race  higher

The NASDAQ index led the way to the upside with all the major indices climbing on the day. The Gilead news that their drug remdesivir and favorable results as a cure for coronavirus.  Dr. Fauci also had positive comments about the results.
  • S&P index rose 76.12 points or 2.66% at 2939.51
  • NASDAQ index rose 306.98 points or 3.57% at 8914.71
  • Dow rose by 532.31 points or 2.21% at 24633.86
Earnings after the close from Facebook and Microsoft are beating expectations.

Major indices give up earlier gains and close lower on the day

  
Analysis, US Market

Nasdaq under pressure ahead of the Big 5 earnings

As mentioned in prior posts today, Alphabet, Amazon, Facebook, Microsoft and Facebook will all report earnings this week. In advance of those risk events, market traders took profits selling each lower on the day. If you were to add Netflix to the mix (they reported last week), all 6 of those influential stocks fell more than the overall market (Nasdaq was down -1.40% on the day).
Nasdaq under pressure ahead of the Big 5 earnings
The final numbers for the major indices are showing:
  • S&P index fell -15.09 points or -0.52% to 2863.39
  • NASDAQ index fell -122.43 points or -1.4% to 8607.73
  • Dow fell -32.23 points or -0.13% to 24101.55. Dow fell for the 1st time after rising the last 4 days in a row.

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NASDAQ index closes above its 100 day moving average for the 1st time since March 4

  
Analysis, US Market

The Dow rises for the 4th day in a row icleBody

The major indices are closing higher on the day. Some highlights included:

  • NASDAQ closing above its 100 day moving average for the 1st time since March 4
  • Dow industrial average closed above its 50 day moving average and rose for the 4th day in a row
  • All 11 sectors the S&P closed in the green
  • The S&P index also closed above its 50 day moving average

The final numbers are showing

  • the S&P index rose 41.74 points or 1.47% at 2878.48. The high price extended to 2887.72. The low bottomed at 2852.89
  • The NASDAQ index rose by 95.64 points or 1.11% at 8730.16. The high price extended to 8754.56. The low fell to 8797.37.
  • The Dow industrial average rose 358.51 points or 1.51% at 24133.78. The high price extended to 24207.65. The low fell to 23840.61.
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