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US stocks close near the lows, give up nearly all of yesterday’s gains Right back to pre-CPI levels

SPX weekly

t was an ugly day for stocks but if you told me before the CPI data that it would be hot and that stocks would trade flat on Thursday-Friday, I’d say that’s constructive. It sure doesn’t feel that way though.

  • S&P 500 down 86 points to 3583 or 2.4%
  • Nasdaq Comp -3.1%
  • Russell 2000 -2.6%
  • DJIA -1.3%

On the week:

  • S&P 500 -1.25%
  • Nasdaq Comp -2.8%
  • Russell 2000 -1.1%

NASDAQ and S&P snap a 6 day losing streak. All 30 Dow stocks close higher (best day since November 2020)

What a day!

For the day, the S&P had its fifth-largest intraday reversal from a 52 week low. The low today was down -2.39%. That was a new 52 week low. At the close it was up 2.6%

For the NASDAQ index it was the 4th largest reversal from a 52 week low.. At the low it fell -3.15%. The index is closing up 2.23%.

  • S&P and NASDAQ snapped 6 day losing streak
  • All Dow 30 stocks close higher. Best day since November 2020
  • All S&P 11 sectors close higher
  • The Dow industrial average range was 1507 points or around 5%
  • the NASDAQ index had a range of 608 points or about 5.70%

the final numbers are showing:

  • Dow industrial average rose 827.87 points or 2.83% at 30038.71
  • S&P index rose 92.85 points or 2.60% at 3669.89
  • NASDAQ index rose 232.06 points or 2.23% at 10649.16
  • Russell 2000 rose 40.64 points or 2.41% at 1728.41