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US stocks end mixed with the Dow up, broader indices lower.

  
Analysis, US Market

Major indices closed near lows for the day

The US major indices or ending the session with mixed results:
  • S&P index -5.04 points or -0.17% at 2945.41. The high reached 2954.92. The low extended to 2944.05
  • NASDAQ index -26.01 points or -0.32% at 8005.69. The high reached 8047.55. The well extended to 8004.62
  • The Dow ended higher by 8.68 points or 0.03% at 26727.81. The high reached 26806.52. The low extended 226723.37

Some gainers today included:

  • Broadcom, +1.9%
  • twitter, +1.64%
  • Deere & company, +1.60%
  • Merck and Company, +1.11%
  • United Technologies,+1.08%
  • Procter & Gamble, +1.02%
  • Stryker, +0.90%
  • Verizon, +0.87%
  • Goldman Sachs, +0.84%
  • Tesla, 0.80%
  • Coca-Cola, +0.74%
  • Facebook, +0.73%
  • J&J, +0.67%
Some losers on the day included:
  • Beyond Meat, -8.53%
  • Bristol-Myers Squibb, -7.4%
  • Celgene, -5.5%
  • Slack, -3.91%
  • Charles Schwab, -3.64%
  • under Armour, -2.52%
  • Chewy, -2.32%
  • Home Depot, -1.93%
  • Phillip Morris, -1.73%
  • Alcoa, -1.73%
  • Box, -1.71%
  • Nike, -1.46%
  • Wells Fargo, -1.36%
  • Morgan Stanley, -1.17%
  • Walgreens, -0.95%
  • Exxon Mobil, -0.95%

Major indices end the up and down in the red.

  
Analysis, US Market

Dow gives up gains and ends in the red.  Nasdaq the worst performer

The major stock indices are ending the up-and-down session in the red. The Dow, that was higher for most the day, closed near it’s lows and gave up the gains.
The final numbers are showing:
  • S&P index -3.72 points or -0.13% at 2950.46. The index closed yesterday at an all-time high. Today, the intraday high was a new record at 2964.15, but the close was not
  • Nasdaq index -19.633 points or -0.24% at 8031.70. The high reached 8073.02. The low extended to 8011.199. For the NASDAQ index this week, the high price reached 8088.88 on Thursday. That was still below its all-time high close at 8163.99.
  • The Dow did move above its all-time high close level at 26828.39 intraday (the high reached 26907.37). However, the index gave up the gains and closed below that all time high level at 26719.13, down -34.04 points
For the week, the major indices were higher:
  • S&P index, +2.2%
  • NASDAQ index +3.01%
  • Dow, +2.41%

S&P closes at new all time highs

  
Analysis, US Market

Middsy swoon threatened the record close, but recovered on the dip

A midday comment by Pres. Trump that we’d see the response to the Iran drone bombing soon, sent the stocks to lows for the day on fears of a military response. In the process, the price of the S&P felll back below the record high close reached on the day’s bullish open.
Middsy swoon threatened the record close, but recovered on the dip
However, later comments from Trump that he thought the bombing was most likely a mistake from over zealous general, suggested a military retaliation was likely not something he or the administration was thinking.   That calmed the stock market fears, and a late day rally in the S&P, sent the index back above its all-time record high at 2945.83.  It’s a record close for the S&P index.
For the Nasdaq index, it too recovered off lows, but still remains below it’s record close from May 3rd at 8163.99.  The index closed at 8051.34 with a high for the day at 8088.87.
The final numbers are showing:
  • S&P index closed at 2954.18 up 27.72 points or 0.95%. The high reached 2958.06. The low extended to 2931.50
  • Nasdaq rose 64.01 points or 0.80% at 8051.34. The high reached 8088.879, while the low extended to 7996.87
  • Dow rose 249.17 points or 0.94% at 26753.17. The high reached 26798.63. The low reached to 26539.69.
Some winners include:
  • Schlumberger, +4.77%
  • Adobe, +3.74%
  • Emerson, was 3.21%
  • down DuPont, +2.82%
  • MasterCard, +2.67%
  • United Technologies, +2.60%
  • Square, +2.42%
  • Caterpillar, +2.34%
  • Cisco, +2.28%
  • Philip Morris, +2.21%
  • Intuitive Surgical, 2.13%
  • Lockheed Martin, +2.04%
  • 3M, +1.89%
  • Visa, +1.79%
  • Boeing, +1.76%
  • Alibaba, +1.66%
  • Home Depot, +1.63%
Some losers on the day included:
  • Papa John’s, -4.03%
  • Tesla, -3.01%
  • Beyond Meat, -2.43%
  • Twitter, -2.34%
  • Chewy, -2.06%
  • United Continental, -1.71%
  • AMD, -1.61%
  • UnitedHealth, -0.96%
  • Merck, -0.91%
  • Delta Airlines, -0.67%
  • Verizon, -0.49%
  • Bank of America, -0.18%
The IPO of the day was Slack which rose 48.85% from its IPO price. the high reached $42 while the low was at $38.25.  The IPO reference price was down at $26 per share

US Stocks close the day with gains but late run to new session highs stalls ahead of close

  
Analysis, US Market

Still….stocks are liking growth and Fed cut potential

Honestly, the debate on “will they/should they/won’t they/could they” willl continue, but stocks seem to be going with the idea a cut is ahead and growth continuing.  The Nasdaq and the S&P both traded to new session highs into the close but there seems to be some profit taking ahead of the close.  The Dow fell short of new highs in the last hour. Nevertheless, the indices are ending with ok gains.  The market is ending the session up for the 3rd day in a row now.
The final numbers are showing:
  • The S&P index is closing up 8.60 points or 0.30% at 2926.44. The high reached 2931.74 in the last half hour of trading, but backed off into the close
  • The Nasdaq is closing up 33.44 points or 0.42% at 7987.32. The high reached 7998.59. The low reached 7930.38
  • The Dow is closing up 38.19 or 0.14% at 26503.73. The high reached 26569.75. The low reached 26415.05
Some winners:
  • Adobe +5.21%
  • UNITEDHEALTH, was 123%
  • Bristol-Myers Squibb, +1.80%
  • Netflix, +1.79%
  • Intuit, +1.72%
  • General Mills, +1.64%
  • United Continental, +1.44%
  • Walt Disney, +1.34%
  • Stryker, +1.17%
Some losers on the day include:
  • Chewy, -6.66%
  • Charles Schwab, -2.52%
  • Boeing, -1.43%
  • Bank of America, -1.05%
  • Micron, -1.02%
  • Twitter, -0.98%
  • Wells Fargo, -0.98%
  • PNC financial, -0.88%
  • J.P. Morgan, -0.75%
  • Intel, -0.63%
  • Citigroup, -0.59%

Rally leaves S&P 500 within 1% of a record high

  
Analysis, US Market

The whiff of fresh stimulus from the European Central Bank and renewed hopes for an end to the trade war propped up stocks and left the S&P 500 within 1 per cent of its closing high.

Wall Street’s benchmark settled 0.95 per cent below its April 30 peak, but had been as little as 0.4 per cent away at its intraday high on Tuesday.

The Dow Jones Industrial Average is 0.7 per cent short of its peak, while the tech-heavy Nasdaq Composite has a bit more work to do, down by 2.6 per cent.

The lofty levels come against a mixed backdrop of geopolitical and economic conditions. The trade war between the US and its allies has dragged on for months and is weighing on consumer and business sentiment.

Earlier this month, Federal Reserve chairman Jay Powell pledged the central bank would “act as appropriate to sustain the expansion”, prompting markets to bump up the odds of an interest-rate cut (or more) this year.

Hints this year that the Fed may loosen monetary policy have typically been accompanied by solid rallies for Wall Street. And given today’s market reaction, investors seem similarly excited by the prospect the ECB may also join a global policy easing party.

Overnight -US stocks drift higher as investors eye central banks

  
Analysis, US Market
Wall Street drifted higher following cautious trade across global markets, as investors kept their sights on a string of central bank meetings coming later this week.Gains in energy and real estate shares helped the S&P 500 climb 0.1 per cent on Monday in New York, with materials and utilities the benchmark’s main laggards.The technology sector also gave US stocks a boost. The tech-heavy Nasdaq Composite rose 0.6 per cent, aided by gains of more than 4 per cent for Tesla and Facebook.Deutsche was the top performer on Frankfurt’s Xetra Dax 30, with shares in the company up 1.4 per cent against a slip of 0.1 per cent for the overall index. The Europe-wide Stoxx 600 was 0.1 per cent softer, while the index tracking its banks was up 0.1 per cent.London’s FTSE 100 advanced 0.2 per cent and the CAC 40 in Paris rose 0.4 per cent.Attention was turning to a significant roster of central bank meetings scheduled for this week, that are due to test perceptions of the dovish stance taken recently by a series of global monetary policymakers. (more…)
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