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US Major indices move higher today led by tech/high flying stocks

  
Analysis, US Market

Nasdaq up over 1%. Other indices solid but more modest gains.

The major indices are closing higher with the tech heavy Nasdaq leading the way.
The final numbers are showing:
  • S&P index rose 16.77 points or 0.59% at 2851.16
  • Nasdaq index rose 87.654 points or 1.13% at 7822.14
  • Dow rose 116.92 points or 0.46% at 25648.90
Nasdaq up over 1%. Other indices solid but more modest gains.
Some winners today are centered on the more high flying stocks:
  • Lyft, +6.97%
  • Alphabet, +4.08%
  • Facebook, 3.07%
  • Twitter, 2.76%
  • Netflix, +2.71%
  • Adobe, 1.82%
  • Amazon, 1.69%
  • Alibaba, 1.58%
  • Microsoft, 1.41%
  • Apple, +1.20%
Losers are mostly financials:
  • Charles Schwab, -3.59%
  • Nvidia, -1.52%
  • Wells Fargo, -1.40%
  • Bank of America, -1.12%
  • PNC Financial, -0.82%
  • Citigroup, -0.57%
  • JP Morgan -0.38%
  • Morgan Stanley, -0.27%

US major indices rally on turnaround Tuesday

  
Analysis, US Market
The major indices enjoyed a turnaround Tuesday.
The final numbers are showing:
  • The S&P index rose 22.54 points or 0.80% to 2834.41
  • The Nasdaq index rose 87.47 points or 1.14% to 7734.49
  • The Dow rose 207 points or 0.82% to 25532.05
The gains were a welcome relief after yesterday’s run lower, but the close was not the best.  The major indices ended near the middle of the low to high trading ranges.  The good news is that the indices did not go negative.
Tomorrow will be key for investor sentiment.  There was a little more positive chatter today from the Pres., Mnuchin, but 25% tariffs may bring revenues into the treasury, but it comes out of consumers pockets.   Earnings projections and multiples could get hurt.  With the market 8 days off the all-time highs when chatter was of an imminent deal (and no 25% tariffs), the story is simply not the same.   The economy may or may not slow to a recession, but earnings growth for some companies, has a headwind to deal with.
PS European tariffs may also be an issue soon too…..

Major stock indices end the session with oversized losses

  
Analysis, US Market
The major stock indices are all ending with oversized losses on concerns about a global trade war. There was limited recovery in the indices today (unlike last week).   The Nasdaq is having it’s worst day in 2019. Tech sector is down 3%.  Dow industrial average fell over 700 points at the lows.
The final numbers are showing:
  • S&P index -69.53 points or -2.41% at 2811.87.
  • Nasdaq index -269.91 points or -3.41% at 7647.02
  • Dow -617.38 points or -2.38% at 25324.95

Crucial Update :Dollar Index ,Euro ,GBP ,YEN ,INR ,CAD ,AUD ,SPX500 ,Nasdaq Composite ,Brent -WTI Crude -ANIRUDH SETHI

  
Analysis, Crude, Forex, US Market
In the wake of the May 5 tweets that signaled the end of the tariff truce, the dollar was mixed, with a heavier bias.  The strongest currencies were the Japanese yen (~1.0%) and Swiss franc (~0.45%).  The Dollar Index fell about 0.2%.  The major currencies that failed to gain against the dollar had idiosyncratic factors, like the seeming failure of the cross-party talks in the UK (sterling fell ~1.3%) or the rate cut in New Zealand (~-0.75%), and a series of weak economic data from Sweden (krona ~-0.70%) in contrast to Norway where the central bank indicated another hike as early as next month.
Within a medium-term bullish outlook, we anticipated and continue to track what appears to be a consolidative/corrective phase for the dollar.  On balance, we expect this phase to continue in the week ahead.  The escalation of trade tensions between the US and China has offset the impact of the surge in Q1 US GDP and the strong April jobs data on expectations for Fed policy.  The dollar bulls need more time, as it were, to adjust to the narrowing of interest rate differentials, and consider the impact on US corporate earnings from formal or informal retaliatory action by China that may follow.
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US equity futures extend declines

  
Analysis, US Market

S&P 500 futures down by over 0.6% now

E-minis 08-05
It’s starting to get a bit ugly now ahead of the opening bell later. US 10-year yields are also holding at one-month lows now around 2.428%, down by nearly 3 bps on the session. If risk sentiment continues to deteriorate further when Wall Street traders come in, expect a more serious test of levels below the 110.00 handle in USD/JPY to come about.
And that should trigger further negativity among risk currencies and promote more haven flows for the dollar and swissie as well.

US Indices take it on the chin, but late day buying softens the blow

  
Analysis, US Market

Broad decline on Iran tension and US/China fear

There were a couple of catalysts for stocks.  There is some anxiety coming from Iran, and the fear from US/China trade hiccups was a concern.
Having said that the Dow was down 648 points at the low. It is ending down 472 points. The Nasdaq and S&P had similar rebounds into the close.
The final numbers are showing:
  • The S&P index fell -48.42 points or -1.65% at 2884.05. The low reached 2862.60
  • The Nasdaq index fell -159.53 points for -1.96% at 7963.75. The low reached 7899.02
  • The Dow fell -473 points or -1.79% at 25965.09. The low reached 25789.71.
Below is the % change range for the North American and European major stock indices today.  Things certainly could have been a lot worse (thanks to the rally into the close).
Broad decline on Iran tension and US/China fear
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