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NASDAQ index erases -125 point decline. S&P and NASDAQ close at record levels

  
Analysis, US Market

Dow industrial average closed at a record level as well taking out the October 26 high close

the major indices all closed at record levels to and the month of October.
  • S&P and NASDAQ post their best month since November 2020
  • Dow and S&P higher for the fourth straight week
  • All 11 S&P sectors higher for October
The final numbers are showing:
  • Dow industrial average closed up 89.06 points or 0.25% a 35819.57
  • S&P index up 8.98 points or 0.20% at 4605.39
  • NASDAQ index up 50.28 points or 0.33% 15498.40. The NASDAQ at the low was down -125 points or -0.81%.

The US stocks closed higher despite rough day for two major bellwethers Apple and Amazon. Both those stocks reported disappointing earnings after the close yesterday and open sharply lower. However, although they closed lower on the day, they did recover from the days lowest levels.

Apple fell -$2.76 points or -1.81% at $149.31. The low price reached $146.41
Amazon fell $-74.16 or -2.15% to $3372.44. The low price reached $3274.

For the week,
  • Dow industrial average rose 0.42%
  • S&P rose 1.32%
  • NASDAQ index rose 2.61%
For the month of October,
  • The Dow rose 5.86%
  • The S&P index rose 6.9%
  • The NASDAQ index rose 7.17%

S&P and NASDAQ close at record highs and at highs for the day

  
Analysis, US Market

NASDAQ first record close since September 7

The major indices are closing higher with the NASDAQ leading the way to the upside ahead of Apple and Amazon’s earnings after the close. The major indices are closing near their highs in contrast to the the close yesterday that saw the indices closing at the lows.

  • NASDAQ up for the fourth straight day
  • NASDAQ closes at a record level for the first time since September 7
  • New intraday high for the Nasdaq index reached 15440.99
  • S&P and NASDAQ have the best day in two weeks
  • All 11 sectors of the S&P are higher today
Facebook change his name to Meta today.  The shares are up 2.1% that $318.70
Amazon shares are trading at $3445.19 at the close
Apple shares are trading at $152.57 at the close
The final numbers are showing:
  • Dow rose 239.20 points or 0.67% at 35729.89
  • S&P rose 44.68 points or 0.98% of 4596.36
  • NASDAQ rose 212.28 points or 1.39% at 15448.12
  • Russell 2000 index rose 45.49 points or 2.02% at 2297.98
The Amazon earnings are coming out weaker than expected with earnings per share and revenues falling well short of expectations.
  • Revenues $110.81 billion versus $111.6 billion estimate
  • Earnings-per-share came in at $6.12 versus $8.92 estimate
  • AWS $16.11 billion versus $15.48 billion estimate
  • Online stored revenue $49.94 billion versus $51.43 billion estimate
  • Physical store sales come in at $4.27 billion versus $4.09 billion estimate
Amazon shares are down -3.5% – now -4.5% – at $3298.75

US stocks sell off into the close. Dow and S&P lower. Nasdaq unchanged.

  
Analysis, US Market

Russell 2000 tumbles -1.90%

The major US indices are closing mostly lower. The exception is the Nasdaq which closed higher by 0.12 points or 0.00% (call it higher but just barely).
The final numbers are showing:
  • Dow fell -266.19 points or -0.74% at 35490.70
  • S&P fell -23.13 points or -0.51% at 4551.67
  • Nasdaq rose 0.12 points or 0.00% at 15235.84
The biggest decliner was the small cap Russell 2000 index. It fell -43.59 points or -1.90% at 2252.49.
 At the session highs for the major indices, the:
  • Dow was up 78.55 points or +0.22%
  • S&P was up 9.91 points or +0.22%
  • Nasdaq was up 128.70 points or 0.85%
Each of the big three major indices closed at the lows.

S&P and NASDAQ close higher for the second consecutive day

  
Analysis, US Market

S&P and Dow hit an intraday all-time high

The major indices close modestly higher with the S&P and Dow hitting a intraday all-time high.

The final numbers are showing:
  • Dow industrial average up 14.68 points or 0.04% at 35755.83.
  • S&P index rose 8.19 points or 0.18% at 4574.67
  • NASDAQ index closed up 9.01 points or 0.06% at 15235.71.

After the close:

  • Microsoft beat on the top and bottom line after the close.  Revenues $45.32 billion versus $43.97 billion estimate. EPS
  • Alphabet beat on top and bottom line after closes well. Alphabet revenues $65.12 billion versus $63.34 billion estimate. Earnings-per-share $27.99 versus $23.48 estimate
Microsoft is trading modestly higher in extended hours trading while Alphabet is initially trading down about -1.08% (PS Alphabet is now trading higher by 0.6% in volatile trading) .

#SPX500 closes at another record as tech and Tesla post a monster day

  
Analysis, US Market

Tesla adds nearly $100 billion in market cap

The S&P 500 gained 22 points to a new closing record of 4566 and closed just 6 points from the intraday high. The Nasdaq gained 0.9% and Dow 0.2%.
This TSLA chart is certainly something you won’t see at a market bottom:
Tesla adds nearly $100 billion in market cap
The company gained around $100 billion in market cap and Musk around $20 billion himself.
Just after the bell, Facebook earnings are out and the shares are slightly lower with revenue and revenue guidance on the soft side. Though the company is buying back $50B in shares.

S&P index snaps a seven day winning streak

  
Analysis, US Market

NASDAQ index lower for the second time in three trading days

The S&P index snapped a seven day winning streak with a modest decline of around five points or -0.11%.

  • The Dow industrial average posts a record close and is up for the third day in a row. The Dow’s record close was the first since August 16
  • The NASDAQ index was the big loser with a decline of -0.82%
  • The major indices close higher for the third week in a row
Next week is the granddaddy of all the earnings release weeks with Facebook, Amazon, Apple, Alphabet, Starbucks, Boeing, Caterpillar, etc. all on the schedule.
Ahead of those earnings Facebook fell 5.05%. Amazon fell -2.9%, Alphabet fell -3.04%, Boeing fell -0.64%, Microsoft fell -0.51%.
A look at the closes shows:
  • Dow industrial average up 73.94 points or 0.21% at 35677.02
  • S&P index down 4.84 points or -0.11% at 4544.95
  • NASDAQ index -125.50 points or -0.82% at 15090.20
For the week:
  • Dow industrial average rose by 1.08%
  • S&P index rose by 1.64%
  • NASDAQ index rose by 1.29%

S&P closes at a new all time record. Indices close near session highs.

  
Analysis, US Market

Nasdaq up for the 6th time in 7 days

The broader US stock indices are closing near session highs. In the process, the S&P index is closing at a new all-time record high. The old all time high close was on September 2 at 4,536.95.
Other highlights for the stock market today includes:
  • The S&P index reached a new all-time intraday high is at 4551.44
  • The S&P index closed higher for the seventh consecutive day
  • The NASDAQ index reversed the declines from yesterday and is now up six of the last seven trading days. The index is around 1.26% away from its all-time high.
  • The Dow industrial average snapped its two day win streak

The final numbers are showing:

  • Dow industrial average fell -6.28% or -0.02% at 35603.09
  • S&P index close higher by 13.59 points or 0.3% at 4549.79
  • NASDAQ index rose 94.03 points or 0.62% at 15215.71

Dow Jones industrial average reaches a new record high

  
Analysis, US Market

New record high at 35643.30

The Dow industrial average is trading to a new record high. The move surpassed the old high at 35631.19.

Dow industrial average

The new high just reached 35643.30.
The S&P index currently trades at 4537.55. It’s high for the day reach 4540.87. Its all-time high is up at 4545.85.
The NASDAQ index is currently up 10.85 points or 0.07% at 15140. That is well off it’s high price of 15178.39. The index is still 1.8% away from its all-time high

US major indices close higher. S&P and NASDAQ close higher for the 5th day

  
Analysis, US Market

Dow industrial average bounces back from declines yesterday

The major indices are closing higher with the S&P and NASDAQ now up for the fifth consecutive day.

  • The NASDAQ index is trading less than the 2% from its all-time high
  • The S&P index is less than 1% from its all-time high
  • S&P and NASDAQ post the longest win streak since August
The final numbers are showing:
  • Dow industrial average up 199.1 points or 0.56% at 35,457.71
  • S&P index up 33.2 points or 0.74% at 4519.66
  • NASDAQ index +107 points or 0.71% at 15129.10
Netflix reported higher earnings with higher revenues after the close
  • earnings-per-share $3.19 versus $2.56
  • revenues $7.48 billion which is as expected
  • Net subscriber additions 4.38 million versus 3.8 million estimate
Netflix shares are trading up $10 or 1.72% at around $650.
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