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US Indices reverse from the sharp declines and close at session highs

  
Analysis, US Market
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NASDAQ index up 1.12%. S&P index also up nicely

The US stocks fell sharply after the worse than expected ISM nonmanufacturing index. The NASDAQ and S&P index fell -1.1% added slows. The Dow industrial average was down -1.29%. However, buyers into the market by the close, the major indices were trading at session highs.
The final numbers are showing:
  • The S&P index rose 23.02 points or 0.80% at 2910.63
  • The NASDAQ index rose 87.02 points or 1.12% at 7872.26
  • The Dow industrial average rose 122.42 points or 0.47% at 26201
The percentage change ranges for the major indices in the North America and Europe are outline below. In Europe, the German DAX got creamed falling -2.76%. The UK FTSE was also lower but a more modest -0.63%.
NASDAQ index up 1.12%. S&P index also up nicely_

Some winners today:

  • Slack, +6.27%
  • Nvidia, +4.83%
  • Micron, +3.57%
  • Square, +3.25%
  • Pepsi, +2.95%
  • Facebook, plus a 2.75%
  • Pfizer +2.22%
Some losers on the day included
  • Tesla -4.16%
  • Charles Schwab, -3.83%
  • Delta Air Lines, -2.8%
  • Alcoa, -1.35%
  • Disney, -0.76%
  • UnitedHealth, -0.66%
  • Johnson & Johnson, -0.5%

Trump blames the stock market decline on ‘impeachment nonsense’

  
Analysis, US Market
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Trump turns his eye away from the Fed

He’s not entirely wrong, the market didn’t like the impeachment headlines when they first hit. But I’d argue that’s because impeachment is more likely to make him erratic and reactionary, if not dangerous.
As for what’s caused the latest leg of US stock market selling, allow me to draw some conclusions:
Trump turns his eye away from the Fed
Here’s his tweet:
All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K’s, down. But that is exactly what the Democrats want to do. They are willing to hurt the Country, with only the 2020 Election in mind!
However I think in the big picture, you’re going to have a US election in 13 months. How do you have any confidence in stocks on a Warren vs Trump election? That’s a binary outcome.
If the impeachment talk had any bearing, it was because it hurt Biden as much as Trump and that solidified Warren’s lead. She went from +200K in betting odds on Sept 12 to +110 now.

US major indices ending near session lows

  
Analysis, US Market
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Not a good day for the major stock indices

The major US stock indices were spooked by weaker than expected ISM manufacturing data . Shortly after the data came out, the major indices turned from being up to being down.

The momentum continued through the day.
The final numbers are showing:
  • S&P index, -36.56 points or -1.23% in 2940.18. That is just off the session low at 2938.70. The pair fell below its 50 day moving average today which had been holding support for most of September. That MA comes in at 2948 area.  Stay below going forward keeps the bears in control.  The 100 day MA is down at 2925.50 currently.  A move below that level increases the bearish bias for the pair
  • NASDAQ index, -90.654 points or -1.3% at 7908.68. The low for the day reach 7906.293. For the Nasdaq index, it tumbled below its 100 day moving average at 7963.81 today.  The next major target would be its 200 day moving average. However that is still a bit away at 7704.411.
  • Dow fell -343.79 points of -1.28% at 26573.04.. The low for the index reached 26562.22.
Selling with broad-based today with all the major sectors moving lower.
Some of the major losers today included:
  • Charles Schwab, -9.73%. They lowered commissions $0 on trades
  • DuPont, -4.73%
  • Schlumberger, -4.36%
  • 3M, -3.67%
  • General Motors, -3.66%
  • Slack, -3.46%
  • Cisco, -3.36%
  • Caterpillar, -3.14%
  • Morgan Stanley, -3.05%
  • Ford motors, -2.84%
  • Wells Fargo, -2.76%
  • Fed ex, -2.72%
  • McDonald’s, -2.64%
  • Bank of America, -2.50%
  • Exxon Mobil, -2.37%
  • Twitter, -2.33%
  • Goldman Sachs, -2.20%
Some winners on the day included
  • Phillip Morris, +2.52%
  • Tesla, +1.59%
  • Visa, +1.34%
  • Box, Inc, +1.15%
  • Wynn resorts, +1.11%
  • Netflix, +0.73%
  • Papa John’s +0.42%
  • Coca-Cola, +0.37%
  • Apple, +0.25%
  • Pepsi, +0.20%

US stocks wrap up a solid month and quarter with gains

  
Analysis, US Market

It’s the final trading day of the month and the quarter

Today’s changes:
  • S&P 500 +0.50%
  • DJIA +0.36%
  • Nasdaq +0.75%
On the month:
  • S&P 500 +1.7%
  • DJIA +1.9%
  • Nasdaq +0.5%
On the quarter
  • S&P 500 +1.2%
  • DJIA +1.2%
  • Nasdaq -0.1%
Stock markets haven’t exactly set the world on fire in the past few months but they managed to skate through some turbulent times.
Here is a look at the quarterly chart of the S&P 500:
It's the final trading day of the month and the quarter

US stocks suffer and close lower on the day

  
Analysis, US Market

Nasdaq does not reach into positive territory today

The USD major indices are closing lower on the day, led by the Nasdaq index.   For the day, the Nasdaq did not reach the ‘black” (i.e., positive). Although also closing lower, the S&P and Dow each saw a positive value at some point of the day.
The final numbers are showing:
  • the S&P fell -7.25 points or -0.24% at 2977.62
  • The NASDAQ fell -46.724 points or -0.58% at 8030.66
  • The Dow fell -79.59 points or -0.30% at 26891.13.
The percentage change range and close % are outlined in the chart below. European shares will close higher on the day.
Nasdaq does not reach into positive territory todayRanking the winners and losers globaly, the UK FTSE was the biggest winner, while the Russell 2000 in the US was the weakest.
The ranking of the global stock market percentage changes for the day

US Indices end with decent gains as impeachment and trade fears ease

  
Analysis, US Market

Some selling into the close but gains still decent today

The major US stock indices are ending the session with decent gains as impeachment and trade fears ease.
The final numbers are showing:
  • S&P index, +18.27 points or 0.62% at 2984.87. The high reached 2989.82.  The low extended to 2952.86
  • NASDAQ index, +83.756 points or 1.05% at 8077.38. The hgh reached 8094.99. The low extended to 7935.57
  • Dow industrial average, +162.94 points or 0.61% at 26970.73. The high reached 27016.56. The low extended to 26755.86.

Overnight :Not a good day on Wall Street as major indices react to potential impeachment proceedings

  
Analysis, US Market
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Nasdaq stocks lead the charge lower

The US major industries are closing lower on the day led by the NASDAQ stocks. Some major stocks like Netflix and Amazon fell sharply.  Today Netflix’s most bullish analyst slashed his price target for the stock from $515-$350. The stock was as high as $380 in July. For Amazon it fell below its 200 day moving average today.
The closing numbers for the major indices are showing:
  • S&P index, -25.18 points or -0.84% at 2966.60
  • NASDAQ index fell -118.83 points or -1.46% at 7993.62
  • Dow fell -142.22 point surmise 0.53 present at 26807.73
Although the indices were off the lows for the day (see % chante ranges for the major indices in North America and Europe below), they are ending nearer the lows for the day.
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