The main 5 companies of the S&P 500 represent almost 18% of the capitalization of the index.
Archives of “US Market” category
rssRecord closes for S&P and Nasdaq.
Dow lags
The major indices are closing just off highs for the day, with the S&P and Nasdaq closing at record highs. The Dow lagged with only a 0.28% gain.
The final numbers are showing:
- S&P rose 22.70 points or 0.70% to 3288.13
- NASDAQ index rose 95.074 points or 1.04% to 9273.93
- Dow rose 83.28 points or 0.29% to 28907.05
Put Call ratio at all time highs
S&P500 EV/EBITDA is almost as high as at the dotcom bubble peak of 1999/2000.
US stocks stumble after hitting record highs
Closing changes for North American trade on January 10, 2020:
On the day:
- S&P 500 down 9 points to 3265 after hitting 3282 (-0.3%)
- DJIA down 133 points to 28823
- Nasdaq down 24 points to 9178
On the week:
- S&P 500 up 0.9%
- DJIA up 0.7%
- Nasdaq +1.75%
The turnaround today is a bit of warning signal. Note that January is a weak seasonal month but there is a long-term trend of strength early in the month. I also tend to think the signing of the ‘phase one’ deal is sell-the-fact risk.
Dow industrial average reaches 29,000 for the 1st time ever
The 28,000 level was breached on November 15
The Dow industrial average has now reached the 29,000 level for the 1st time ever. It currently trades at 29,004. The index moved above the 28,000 on November 15, 2019.
The biggest contributors over the last thousand points has been Apple which has risen 15% and contributed over 300 points of the gains.
“US stocks substantially more expensive than global peers across all metrics”
Reasons to Sell Stocks
The valuation of the S&P 500 is at the same levels of 1999.
US Market : Record close for the major indices
Dow toys with extending above 29,000, but stalls just short of the level today
The major US stock indices are closing once again at record highs. The down industrial average toyed with the idea of breaking the 29,000 level. The index moved above the 28,000 level on November November 15. The high price today reached 29,988.01 before backing off.
The closing levels are showing:
- S&P index up 21.66 points or 0.67% to 3274.71. That is just off the high price of 3275.58. The low reached 3263.67.
- NASDAQ index rose 74.184 points or 0.81% to 9203.42. The high price reached 9215.95. The low extended to 9158.504
- Dow rose 212.08 points or 0.74% to 28957.12. The high reached 28988.01. The low extended to 28844.31.
Some big winners today included:
- Beyond Meat, +10.84%
- Chewy, +2.97%
- Bristol-Myers Squibb, +2.47%
- AMD, +2.36%
- Apple, +2.16%
- Goldman Sachs, +2.05%
- Starbucks, +1.82%
- Coca-Cola, +1.79%
- Alibaba, +1.79%
- American express, +1.79%
- Costco, +1.60%
- Boeing, +1.52%
- Home Depot, +1.51%
- Microsoft, +1.22%
- McDonald’s, +1.21%
Some losers today included:
- under armor, -3.09%
- Slack, -2.4%
- Walgreens boots, -2.08%
- Tesla, -2.08%
- AT&T, -1.5%
- Verizon, -1.47%
- General Mills, -1.15%
- Netflix, -1.05%
- DuPont, -0.91%
- Lam research -0.78%
- Broadcom, -0.76%
- Walt Disney, -0.47%
- Cisco, -0.42%
- micron, -0.35%
- Caterpillar, -0.25%
- Wells Fargo, -0.17%
- Southwest Airlines, -0.13%