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US stocks finish with a flourish to cap another week of gains

  
Analysis, US Market

US stocks finish near the highs

Stocks sagged just as the final hour of trading got underway but rallied late and the S&P 500 finished up 2.6% and this time it wasn’t tech leading the way. On the week, the index gained 3.0% on the heels of last week’s massive jump.
Today’s rally rose above the 50-day moving average but the key level on my chart is the 61.8% retracement of the virus decline. That’s at 2934.
US stocks finish near the highs

US stocks move higher led by the Nasdaq index

  
Analysis, US Market
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Dow lags as Boeing slumps

The US stock indices closed higher on the day led by the Nasdaq index. The S&P  and Dow closed higher as well but the gains were well behind the tech heavy Nasdaq. For the Dow, the blame fall firmly on Boeing which alone fell over 7% on the day.
The final numbers are showing:
  • S&P index rose 16.19 points or 0.58% at 2799.55
  • Nasdaq index rose 139.18 points or 1.66% at 8532.36
  • Dow rose 33.33 points or 0.14% at 23537.68

US major indices close lower but near midrange

  
Analysis, US Market

Major indices didn’t see a positive tick in the black today

The US major indices open lower and never traded in the black today. However, the good news is day closed near midrange after a near 3% decline in the S&P and Dow.
  • All 11 sectors of the S&P closed lower.
  • The NASDAQ @ its worst day since April 3, and
  • The Dow closed 20% below its record high once again

A look at the final numbers are showing:

  • S&P index -62.70 points or -2.2% at 2783.36. The low price reached 2761.54. The high price extended to 2801.88
  • NASDAQ index fell -122.564 points or -1.44% at 8393.17. The high price extended to 8464.65, while the low fell to 8308.79. The NASDAQ snapped a 4 day winning streak.
  • Dow industrial average fell -445.44 points or -1.86% at 23504.35. The high price extended to 23649.72, while the low fell to 23233.32

European indices all fell sharply and closed near low levels for the day (see the ranges and changes below).

Major indices didn't see a positive tick in the black today_

NASDAQ index closes above its 50 and 200 day moving averages

  
Analysis, US Market
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NASDAQ up for the 4th day in a row

The NASDAQ index is the star performer today, rising for the 4th day in a row closing above its 50 day and 200 day moving averages. The close above the 200 day moving averages the 1st since March 6.  The other indices also had solid days today with the S&P and Dow closing at the highest level since March 10.

The final numbers are showing:
  • S&P index up 84.43 points or 3.06% at 2846.06
  • NASDAQ index up 323.31 points or 3.95% at 8515.74
  • Dow industrial average up 558.99 points or 2.39% at 23949.76
Some of the major gainers today included:
  • Tesla, +9.07%
  • AMD, +7.83%
  • United holdings, +6.72%
  • Adobe, +6.24%
  • Qualcomm, +5.75%
  • Delta Air Lines, +5.59%
  • Raytheon, +5.27%
  • Nvidia, +5.3%
  • Amazon, +5.28%
  • Apple, +5.04%
  • Microsoft, +4.95%
  • J&J, +4.39%
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