The major US stock indices are ending the day higher. The NASDAQ index led the charge higher after moving down over 20% from its all-time November high close on Friday.

Helping the indice was the Twitter board’s approval of Elon Musk’s $54.20 in cash per share tender offer. If the deal goes through as planned, Twitter would go private.

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The final numbers are showing:

• Dow industrial average up 238.06 points or 0.70% at 34049.47
• S&P index up 24.33 points or 0.57% at 4296.13
• NASDAQ index up 165.57 points or 1.29% at 13004.6
• Russell 2000 up 13.53 points or 0.70% at 1954.20

• S&P 500 -2.8% down 136 points to 4254
• Nasdaq-2.6%
• DJIA -2.8%
• Russell 2000 -2.5%
• Toronto TSX -1.9%

On the week:

• S&P 500 -2.8%
• Nasdaq -3.8%
• Russell 2000 -3.1%

This was the third rough week in a row for stocks and the Nasdaq is now within striking distance of an 11-month low.

• S&P 500 -1.5%
• Nasdaq -2.0%
• DJIA -1.0%
• Russell 2000 -2.3%
• Toronto TSX -1.6%

The Nasdaq traded 1% higher shortly after the open but when bonds cracked, the market fell apart. New cycle highs in yield in the front end spooked the market. Daly was talking about ‘a couple’ of 50 bps hikes and that hit a market that’s downright frightful about Q1 earnings reports.

It was an odd one in terms of sectors. Commodities were hit particularly hard, including oil. That’s despite a $1.44 gain in crude today, flat natural gas pricing and not much happening in copper. That sounds like funds selling winners to rotate into something else. Either that or there are some real worries about demand out there (particularly Chinese demand).

The major US  indices  closed solidly higher with the NASDAQ index leading the way. That’s the good news the bad news is Netflix earnings and numbers came in much worse than expected (with net subscribers negative at -200 K and forecasts of -2 million in the next quarter). The stock is currently down 20% from its closing level.

Nevertheless for the day, the major indices were solidly higher:

• Dow Jones closed up 499.5 points or 1.45% at 34911.19
• S&P rose 70.52 points or 1.61% at 4462.22
• NASDAQ index rose 287.31 points or 2.15% at 13619.67
• Russell 2000 rose 40.63 points or 2.04% at 2030.76

The major US stock indices are closing with modest losses in an up and down session. The final numbers are showing:

• Dow industrial average -39.56 points or -0.11% at 34411.68
• S&P index fell -0.9 points or -0.02% at 4391.70
• NASDAQ index -18.71 points or -0.14% 13332.37
• Russell 2000-14.84 points or -0.74% at 1990.13

Looking at the ranges for the day:

• Dow industrial average was up 0.48% at its highs and was down -0.5% is lows before closing down -0.11%
• S&P index was up 0.41% at its highs and was down -0.52% it’s lows before closing near unchanged
•  NASDAQ  index rose 0.47% it’s highs and was down -0.97% it’s lows before closing at -0.14%.

Looking at the major sectors, the biggest gainers were:

• energy rose 1.6%
• financials rose 0.7%
• technology rose 0.3%

On the downside the biggest losing sectors included:

• healthcare fell -1.1%
• consumer staples fell -0.8%
• utilities fell -0.5%