The major US indices are all closing lower on the day. The declines are being led by the Nasdaq (and Russell 2000). Nervousness about the Fed on Wednesday and omicron concerns, are the leading cause of concern for the markets. Of interest is rates moved lower today which did not help the likes of the Nasdaq or Russell 2000 as focus turns to slower growth.

The final numbers are showing:

• Dow industrial average felt -320.06 points or -0.89% at 35650.96
• S&P index -43.03 points -0.91% 4668.98
• NASDAQ index -217.31 points or -1.39% at 15413.29.
• Russell 2000-31.31 points or -1.42% at 2180.49

Recall on Friday the S&P index closed at a record level. The decline today pushes the price away from that level.

• The S&P index is closing at a new record high. The index is surpassing the November 18 high close at 4704.55. The index closed at 4712.01. The S&P index also had its best week since February. The index rose 3.84%
• The Dow industrial average is closing -1.27% from its all-time high close. The Dow industrial average had its best weekly gain since March. The index rose 4.03% this week
• The NASDAQ index is -2.66% away from its all-time high close. For the NASDAQ index it rose 3.6% this week

The major US stock indices are ending the day mixed with the Dow industrial average unchanged, the S&P falling and the NASDAQ index tumbling. You can also say the small-cap Russell 2000 index tumbled as well.

• The NASDAQ index closed -4% from its all-time high
• Dow industrial average closed -2% from its all-time high S&P
• NASDAQ index snapped a three day win streak
• The Dow industrial average is on track for its largest weekly gain since March
• the S&P is on pace for its largest gain since February

The final numbers are showing:

• ow industrial average fell -0.06 points or 0.0% at 35754.68
• S&P index felt -33.78 points or -0.72% at 4667.44
• NASDAQ index fell -269.61 points or -1.71% at 15517.38
• Russell 2000 -51.5 points or -2.27% at 2220.20

Some big losers today included a number of the meme stocks: (more…)

• Reuters with the polling, analysts shifting their Federal Reserve rate hike projections to Q3 2022 from Q4 in the survey for the previous month,

30 of the 36 economists asked say they now expect the Fed ‘lift-off’ rate hike to come earleir than they had previously projected.

• in Q3 2021 from Q4 previously thought.

Most thought there is a risk of even sooner than Q3.

• NASDAQ was the strongest of the three major indices
• Dow Jones recovered from earlier losses with buying into the close
• Russell 2000 of small-cap stocks was the biggest percentage gainer
• NASDAQ index 1.65% away from a record close
• S&P index only 3.3 points away from an all-time high close

The major US stock indices are closing solidly higher with the NASDAQ index leading the way.

• Nasdaq and S&P have their best day since March
• All sectors of the S&P close higher for the 2nd consecutive day.
• S&P closes 1.16% from its all-time highs
• Nasdaq closes 3.24% from its all-time highs
• Dow close at 2.3% from its all-time highs

The final numbers are showing:

• Dow industrial average rose 492.40 points or 1.4% at 35719.44
• S&P index rose 95.08 points or 2.07% at 4686.76
• NASDAQ index rose 461.77 points or 3.03% at 15686.93

The Russell 2000 also recovered some of its losses seen recently with a gain of 50.30 points or 2.28% at 2253.78. The index is still over 8% from its all-time high reached on November 8.

The NASDAQ index is closing between its 100 hour moving average at 15677.69 and its 200 hour moving average at 15695.31. Those moving averages will be the barometer is going forward for bulls and the bears. Move above tomorrow, and the bias tilt more to the upside. Move below tomorrow and the bias tilt more to the downside.