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US stocks close higher. S&P and NASDAQ close higher for the third consecutive day

  
Analysis, US Market
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Dow has a two day win streak two end the week

The US stocks are closing higher across the board with the Dow industrial average leading the way with a gain over 1%.

  • S&P and NASDAQ end the week with a three day winning streak
  • Dow ends with a two day winning streak
  • Dow is less than 1% from its all-time high
  • Dow has its best week since late June
  • S&P has its best week since July 23
  • NASDAQ and S&P close above its 50 day moving average

A look at the final numbers shows:

  • Dow industrial average rose 382.2 points or 1.09% at 35294.75
  • NASDAQ index rose 73.92 points or 0.5% at 14897.35
  • S&P index rose 33.11 points or 0.75% 4471.37
For the week,
  • Dow industrial average rose 1.58%
  • S&P index rose 1.81%
  • NASDAQ index rose 2.18%

US stocks roar ahead. S&P has its strongest day in seven months

  
Analysis, US Market

Dow snapped the four day losing streak

The US stocks roared ahead with the Dow industrial average is snapping a four day losing streak:

  • S&P has its best day since
  • S&P and NASDAQ close higher for the second consecutive day
  • Dow industrial average snapped the four day losing streak
  • All S&P sectors closed higher
  • NASDAQ has its best day since May 20
  • Dow industrial average has its best day since July
  • S&P has its best day since March 5 (7 month high)
  • Gains were led by banks and better PPI data
  • initial jobless claims were also below 300K for the first time since the pandemic
The final numbers are showing:
  • Dow industrial average rose 534.73 points or 1.56% at 34,912.56
  • S&P index rose 74.46 points or 1.71% at 4438.25
  • NASDAQ index rose 251.8 points or 1.73% at 14823.44
Looking at the hourly chart of the NASDAQ index, it is closing just below its 200 hour moving average at 14832.61. In the new trading day moving above that level would be more bullish.

S&P and NASDAQ breaks three-day losing streak

  
Analysis, US Market

Dow closes lower for the fourth day in a row

The Dow industrial average could not sustain gains into the close and is closing fractionally lower on the day. Nevertheless it still is a down day. That increases the losing streak for the Dow industrial average to four consecutive days.

The good news is that the S&P and the NASDAQ both closed higher snapping their three day decline.

The final numbers are showing:
  • Dow industrial average -0.55 points or -0.00% at 34377.82
  • S&P index +13.15 points or 0.3% at 4363.79
  • NASDAQ index +105.71 points or 0.73% at 14571.64

US stocks drift lower and close lower for the third consecutive day

  
Analysis, US Market

Stocks struggle to move higher

The US stocks could not sustain positive levels and drifted lower into US afternoon. The major indices are closing lower for the third consecutive day.

At the close, Apple announced that they would have to cut production of the iPhone due to chip crunch.  Apple shares are down -1.1% after the close.
  • Dow S&P and NASDAQ post a three day stock decline
  • S&P closes around 4% from its all-time high
  • Dow closes about 3% from its all-time high
  • NASDAQ closes -6% below its all-time high
The final numbers are showing:
  • Dow Jones -117.72 points or -0.34% at 34378.33
  • S&P index -10.56 points or -0.24% at 4350.64
  • NASDAQ index -20.27 points or -0.14% at 14465.93

US stocks close near session lows

  
Analysis, US Market
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Stocks still off into the close

The US stock indices sold off into the close and are closing near the low levels for the day.

  • The Dow and S&P are lower for the 2nd consecutive day
  • Utilities and Communications lag
  • Materials and Real Estate lead
A look at the indices at the close show:
  • Dow -249.40 points or -0.72% at 34496.84
  • S&P index -30.31 points or -0.69% at 4361.04
  • NASDAQ index -93.33 points or -0.64% at 14486.21
WTI crude oil futures hit this highest level in 7 years. The US treasury market was closed in observance of Columbus Day.  But concerns about higher interest rates persistent the market. The U.S. Treasury will auction off three and 10 year notes tomorrow at 1 PM ET. They will auction off 30 year bonds on Wednesday.

Major US indices close the day lower. Snap a three day win streak

  
Analysis, US Market

NASDAQ index falls -0.5%. S&P and Dow marginally lower on the day

The major US indices are closing the day lower. The declines snapped a three day win streak for the indices.

  • Dow has best week since June
  • Major indices all closed higher for the week
  • S&P post the best week since August
  • Energy and financials lead today as oil moves higher and interest rates to move higher
A look at the final numbers shows:
  • Dow industrial average fell -8.7 points or -0.03% at 34746.24.
  • S&P index fell -8.4 points or -0.19% at 4391.35
  • NASDAQ index fell -74.47 points or -0.51% at 14579.55. That closed near the lows for the day at 14569.68.  The index was up as much as 0.31% at the highs
  • The Russell 2000 fell -17 points or -0.76% at 2233.09
For the week, the Dow industrial average led the way with a 1.27% gain
  • Dow, +1.27%
  • S&P index +0.83%
  • NASDAQ index +0.1%
Year-to-date gains show:
  • Dow +13.59%
  • S&P index +16.96%
  • NASDAQ index +13.14%

The US major indices close higher but get back some of the gains

  
Analysis, US Market

Up for the third straight day

The US major indices are closing higher on the day with the NASDAQ index and the Dow industrial average leading the way with gains near 1%. That’s good news. The not so good news is that the gains were much higher. The Dow industrial average was up 1.62% at its highs. The NASDAQ index was up 1.75%. The Russell 2000 index of low cap stocks was the big winner with a gain of 1.58%

A look at the provisional closing numbers shows:
  • Dow industrial average up 337 points or 0.98% at 34754.15. The high saw the Dow up 558.2 points
  • S&P index is up 36.28 points or 0.83% at 4399.83. The high saw the S&P up 67.04 points
  • NASDAQ index is up 152.1 points or 1.05% at 14654.02. The high saw the NASDAQ up 253.80 points
  • Russell 2000 rose 35.11 points or 1.59% at 2250.07
Other highlights for the day include:
  • Dow is 2% from its all-time high
  • NASDAQ is trading less than 5% from its all-time high
  • S&P is trading 3% from its all-time high
  • The Dow S&P and NASDAQ is now on track for a gain for the week
Tomorrow’s stock market will be influenced by the US jobs report which is expected to show a gain of around 490,000 jobs (versus 235,000 last month). The unemployment rate is expected to dip to 5.1% from 5.2%.

US Indices catch a late bid to finish at the highs of the day

  
Analysis, US Market

Debt ceiling optimism turned the market

The GOP offer of a two-month debt ceiling extension — even if it’s not accepted — is a strong signal that the US isn’t going to default. Despite all the talk and games, US politicians aren’t going to let the banking system crumble because of some stupid political games. They’re great at getting the market to fret though.
  • S&P 500 +20 points to 4365 (+0.5%)
  • Nasdaq +0.5%
  • DJIA +0.3%
We’ve really carved out a range over the past week.
Debt ceiling optimism turned the market

Major US indices close higher but off their highest levels

  
Analysis, US Market
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NASDAQ recoups 1.25%

The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day.

Some highlights:
  • Dow industrial average recouped all of the declines from Monday’s trade
  • NASDAQ index has the best day since August 23
  • NASDAQ is still  6.29% below the all-time high. At the low, reached yesterday, the price moved -7.93% from the high
  • S&P index is 4.4% below the all-time high. At its low reached yesterday the index fell -5.87%
  • The Dow industrial average is down -3.68% from its all-time high

A look at the final numbers shows:

  • Dow industrial average rose 3 and 11.73 points or 0.92% at 34314.68
  • S&P index +45.24 points or 1.05% at 4345.71
  • NASDAQ index up 178.36 points or 1.25% at 14433.84
The major indices were buoyed by some short covering and dip buying. Having said that, the S&P index intraday moved back above its 100 day moving average at 4351.31. However the momentum could not be sustained, and the price moved back below that moving average level. For the NASDAQ index, it’s high price reached 14508.65. That was short of the 100 day moving average at 14521.12.
US yields are higher
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