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US Major indices down hard again (For us nothing new ………..as expected )

  
Analysis, US Market
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Dow and S&P down over 3%. 4th day of declines in a row

The US stocks are closing down sharply for the 2nd day in a row . The Dow and S&P  have the worst 2 day decline since February 2018. The Dow has plunged more than 1900 points in 2 days.  The Nasdaq index also moved into and closed in the red for the year (below a 8972.60).
The final numbers are showing
  • The S&P index fell 97.68 points or -3.03% at 3128.21. The high reached 3246.99. The low extended to 3118.77
  • The Nasdaq index fell -255.66 points or -2.77% at 8965.61. It’s high reached 9315.25. The low extended to 8940.488
  • The Dow fell 879.44 points or -3.15% at 27081.36. The high reached 28149.20. The low extended to 26997.62.
After the close, Disney announced that is the CEO Bob Iger would be stepping down.  He will be replaced by Bob Chapek effective immediately.

Dow tumbles more than 1000 points. Worst day since Feb 8, 2018

  
Analysis, US Market
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S&P worse day since December 2018

The Dow is closing down over 1000 points on the day. It is the workstations February 8, 2018. The S&P index at its worst day since December 2018.  The Dow, S&P and Nasdaq each fell over 3.3% on the day with the NASDAQ hit the hardest at -3.71%.
The Dow and the S&P are now negative on the year:
  • Dow -2.02%
  • S&P index, -0.15%
  • The Nasdaq index is still up on the year at +2.77%
The final numbers are showing:
  • S&P index -111.82 points or -3.35% at 3225.93.  The low price for the day reach 3214.65. The high extended to 3259.81.
  • Nasdaq index fell minus 355.309 points or -3.71% at 9221.28. The low for the day reached 9166.00. The high reached 9322.879.
  • Dow fell -1031.33 points or -3.56% at 27961. The low for the day reached 27912.44. The high for the day was up at 28402.93

Big losers on the day include:

  • United health, -7.87%
  • AMD, -7.83%
  • Tesla, -7.49%
  • Schlumberger, -7.4%
  • Nvidia, -7.13%
  • Delta airlines -6.31%
  • Twitter, -6.29%
  • Wynn Resort, -6.03%
  • Intuitive Surgical -5.38%
  • Morgan Stanley, -5.21%
  • Charles Schwab, -5.19%
  • FedEx -5.16%
  • Citigroup, -5.10%
  • American Express, -4.97%
  • Cisco, -4.95%
  • Visa, -4.82%
Are there any winners today?
  • Gilead, +4.66%
  • US steel, +1.73%
  • Chewy, +1.3%
  • First Solar, +1.25%
  • Verizon, -0.3%. Verizon was the strongest of the Dow 30 stocks
  • General Mills only fell -0.37%

 

S&P futures contract falls 1% in early electronic trading

  
Analysis, US Market

Asian virus fears grow

The US stocks off to a weak start as the

  • S&P 500 contract falls 1% on Asian virus fears.
  • NASDAQ futures are down 115 points (around -1.2%)
  • Dow futures are down -260 points (around -0.93%)
In other markets,
  • gold has jumped to $1660 an ounce more up 1% in early trading
  • WTI crude oil futures are trading down $1 or -1.87% at $52.38
Meanwhile South Korea vice finance minister is on the wires saying:
  • concern financial market instabilities are increasing
  • policy focus will be on a stabilizing FX, financial markets
  • will act sternly, swiftly to stabilize financial markets if needed
  • will stem any hero – like speculative moves in FX markets
  • will soon announce measures to boost exports, investments and domestic demand
  • coronavirus threatens to limit South Korean economic recovery
  • negative impact from virus unavoidable

Major indices close lower. Indices also lower for the week

  
Analysis, US Market
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All-time highs were made but Thursday and Friday selling take the gains away

The major stock indices are ending the day lower with the NASDAQ falling by -1.79%. In a week where the NASDAQ and S&P index made new all-time highs, selling on Thursday and Friday have taken those gains away. The major indices are ending the week lower.

The final numbers are showing:
  • Dow industrial average -227.30 points or -0.78% at 28992.68
  • S&P index -35.55 points or -1.05% at 3337.68
  • NASDAQ index -174.38 points or -1.79% at 9576.59.
For the week, the Dow industrial average was the weakest followed closely by the NASDAQ index:
  • Dow industrial average, -1.46%
  • S&P index, -1.07%
  • Nasdaq index -1.39%

S&P and NASDAQ close at record levels

  
Analysis, US Market

NASDAQ index leads the charge with the 0.87% gain

The major indices are all closing higher with the NASDAQ and S&P closing at record levels. The NASDAQ index led the way. It was up over 1% at the highs today but backed off into the close.
The final numbers are showing:
  • S&P index, +15.81 points or 0.47% at 3386.10
  • Nasdaq index up 84.437 points or 0.87% at 9817.18
  • Dow industrial average up 115.63 points or 0.4% at 29347.83.
The NASDAQ index was led by Tesla with a gain of 6.82%. Other big gainers for the index included:
  • Nvidia, +6.13%
  • Analog Devices, +4.45%
  • Incyte, +4.06%
  • Micron, +3.88%
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