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NASDAQ the big winner today but major indices close lower for the week

  
Analysis, US Market
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All 11 sectors higher

The major indices all closed higher for the day led by the NASDAQ index which rose 1.17%.
  • All 11 sectors of the S&P are higher
  • indices close near the session highs
  • Dow snaps a three-day losing streak
  • S&P and NASDAQ close up for the second consecutive day
  • major averages post weekly losses
  • Dow has its worst week since mid-June
  • NASDAQ had its best day in four weeks
the final numbers are showing
  • Dow industrial average rose 225.50 points or 0.65% at 35120.08
  • S&P index rose 35.86 points or 0.81% at 4441.66
  • NASDAQ index rose 172.88 points or 1.19% at 14714.66
  • Russell 2000 index gained will 35.18 points or 1.65% at 2167.60
Technology and utilities led the gains today. Consumer staples and energy lagged but still closed higher on the day.
For the week:
  • Dow industrial average fell -1.11%
  • S&P index fell -0.61%
  • NASDAQ index fell -0.73%
For the Dow 30 stocks, the big winners today were:
  • Microsoft, +2.52%
  • Home Depot, +1.96%
  • Cisco, +1.68%
  • Walgreens, +1.58%
  • Nike, +1.32%
  • Salesforce, +1.21%
The laggards today were led by:
  • Intel -0.82%
  • Amgen, -0.39%
  • Coca-Cola, -0.39%
  • Visa, -0.11%
  • Honeywell, -0.04%
  • Chevron, -0.02%

Dow closes lower for the third consecutive day

  
Analysis, US Market

S&P and NASDAQ squeak out small gains

The major indices are closing mixed.

  • The Dow is closing negative for the third day in a row.
  • Both the S&P and NASDAQ broke losing streaks.
  • The S&P snapped a today decline,
  • The NASDAQ snapped a three day decline.
  • The Russell 2000 index fell as well and has its long as losing streak since February 2000.
  • The major indices on pace for weekly losses
  • Dow S&P on track for worst week since mid June
  • NASDAQ on track for the worst week since May
the final numbers are showing:
  • Dow industrial average -66.57 points or -0.19% at 34894.12
  • S&P +5.49 points or +0.12% at 4405.76
  • Nasdaq +15.87 points or +0.11% at 14541.79
  • Russell 2000-26.36 points or -1.22% at 2132.42

US Major indices close lower but it could’ve been worse

  
Analysis, PODCAST, US Market
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No new records today

The major US stock indices all closed lower, snapping the record close string at five.

  • Dow has its worst performance since August 4
  • S&P has its largest decline in nearly a month
  • NASDAQ posts a two day declinne
  • S&P and Dow snap a five day win streak/5 days of record closes
  • The Dow was down over 500 ppoints at it’s lows
  • Consumer Discretionary -2.31%
  • Industrials –1.06%
  • Communication services -0..99%
  • Energy -0.92%
  • Technology fell -0.87%
  • Healthcare rose 1.12%
  • Consumer staples rose 0.34%
The final numbers are showing:
  • S&P index -31.46 points or -0.70% at 4448.25. The index at its low was down -1.39% or -62.14 points
  • NASDAQ felt -137.58 points or -0.93% at 14656.18. The index was down -242.9 points or -1.64% at it’s lows
  • Dow fell -282.122 points for -0.79% at 35343.28. It’s low price was down  -505.009 points or -1.42%
  • Russelll 2000 fell -26.24 points or -1.19% at 2177.17

The dip-buying in US stocks is relentless

  
Analysis, US Market

This chart is a gem

Here’s the 30 minute chart of the cash S&P 500 index. You can see the big drop at the open today, some choppy trading for the next hour and then utterly relentless buying.
It’s the kind of pattern we’ve seen play out so many times, though not always as picturesque as today’s chart.
SPX
The message for me is that the bulls are completely undaunted. Nothing matters so long as rates are ultra-low, the Fed is feasting on bonds and the fiscal taps are open.
One chart that’s more-concerning is the Russell 2000. It’s been moving sideways since January and is more-similar to the yen crosses and EM currencies, highlighting the uncertainty in markets.
Russell 2000

A new day, and new records for the Dow and S&P

  
Analysis, US Market

NASDAQ and Russell 2000 close lower

It’s a new week.  It’s a new day. Ttrue to the pattern of late, the S&P and Dow both closed at new record levels while the NASDAQ index closed lower but off it’s lows.

the final numbers are showing:
  • Dow industrial average rose 109.36 points or 0.31% at 35624.74
  • S&P index rose by 11.67 points or 0.26% at 4479.67
  • NASDAQ index felt -29.14 points or -0.20% at 14793.76
The S&P posted its 49th record close for the year.  The Dow posted its 35th record close for the year.

S&P/Dow close at record levels (but only marginally higher). Nasdaq higher.

  
Analysis, US Market

NASDAQ closes lower for the week

The S&P and Dow held on for a record closes but just barely.
  • The S&P closed at record day for the fourth consecutive day.
  • The NASDAQ moved higher in the last minute of trading and it’s second gain in a row.
  • The Russell 2000 fell close to 1%.
  • S&P posted its 48th record close for the year.
  • Dow posted its 34th record close for the year.
The final numbers are showing:
  • Dow rose 15.53 points or 0.04% at 35515.38
  • S&P rose 7.98 points or 0.18% at 4468.82
  • Nasdaq rose 6.64 points or 0.04% at 14822.90
  • Russell 2000-20.96 points or -0.93% at 2223.11
Positive sectors included:
  • Consumer staples, +0.81%
  • Real estate, +0.69%.
  • Healthcare, +0.6%
  • Utilities, +0.57%
Sector laggards today included:
  • Energy, -1.26%.
  • Financials, -0.72%.
  • Industrials, -0.32%.
  • Discretionary, -0.29%
For the week, the NASDAQ index closed marginally lower. The Dow led the way to the upside:
  • Dow, +0.86%
  • S&P, +0.73%
  • NASDAQ -0.09%
  • Russell 2000, -1.07%. The Russell 2000 snapped a three week win streak
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