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Major indices close lower on the day. Dow post three days losing streak

  
Analysis, US Market

Dow the worst performer

The major indices lost steam and moved lower in the last hour of trading.
  • NASDAQ composite index closes lower for the first time four days
  • NASDAQ 100 close higher for the fourth straight day
  • Dow has its worst performance in three weeks
  • Dow posts a three-day losing streak
  • S&P closes lower for the second time in three days. Fails to stay above the all-time high closing level

A look at the major indices shows:

  • S&P index fell -7.64 points or -0.18% at 4219.82
  • NASDAQ index fell -13.16 points or -0.09% at 13911.75
  • Dow felt -153.01 points or -0.44% at 34446.81.
The small-cap Russell 2000 index closed down -16.62 points or -0.71% at 2327.14.

US Indices end the session mixed. Dow down. S&P unchanged. Nasdaq up

  
Analysis, US Market

NASDAQ closes at the highest level since April 30

The major indices close mixed with the S&P unchanged. The NASDAQ index higher. The Dow industrial average lower.

  • S&P close just below record closing level of 4232.60
  • NASDAQ closes at highest level since April 30
  • Energy sector was the biggest gain or help by WTI crude oil which closed up one dollar and above $70 for the first time since October 2018
  • Real estate and energy sectors closed at record levels
  • NASDAQ post three day win streak
The final numbers are showing:
  • S&P index rose 0.70 points or 0.02% at 4227.22
  • NASDAQ index close up 43.19 points or +0.31% at 13924.91
  • Dow felt -30.42 points or -0.09% at 34599.82.
For the Russell index it led the way to the upside with a gain of 24.58 points or 1.06% at 2343.76.

US stocks mixed with risk on flows into Russell/Nasdaq

  
Analysis, US Market

Dow lags and posts the worst day in more than two weeks

The major US indices are closing mixed with risk on flows sending the Russell 2000 and NASDAQ indices higher. The broader big cap stocks of the S&P index and Dow declined.
  • The NASDAQ closes 2% from the high
  • S&P closes less than 1% from the high
  • NASDAQ closes higher for the second consecutive day
  • Dow as its worst day in over two weeks
  • Russell 2000 has fourth positive session in five trading days
  • Biotech ETF has its best they of 2021 as Biogen shares surge after Alzheimer’s drug gets a green light from the FDA.
The final numbers are showing:
  • S&P index felt -3.37 points or -0.08% at 4226.52. The high price reached 4232.34. The low price extended 24215.66
  • NASDAQ index rose 67.23 points or +0.49% at 13881.72. It’s high price reached 13889.11. The low price extended to 13784.89
  • the Dow industrial average felt -126.15 points or -0.36% at 34630.24. It’s high price reached 34820.91. The low price extended to 34574.51
  • Russell 2000 rose 32.8 points or 1.43% at 2319.21. The high price reached 2321.64. The low price extended to 2286.93.

Meme stocks and Biogen were leaders today with Biogen rising 38.33% after the FDA approved and Alzheimer’s drug. The other beginners were familiar meme stocks including Express, AMC, Blackberry, Gamestop, Bed Bath and Beyond.

Dow lags and posts the worst day in more than two weeks

US stocks end the week on a strong note

  
Analysis, US Market

All major indices higher

All the major indices are closing the session with gains. The day was led by the NASDAQ index

  • NASDAQ has its best day since May 20
  • NASDAQ higher for the third straight week
  • S&P has its best day since May 24
  • Dow and S&P higher for the second straight week

A look at the closes shows:

  • S&P index rose 37.04 points or 0.88% at 4229.89. The high price reached 4233.45. That was just short of its all-time high of 4238.04
  • NASDAQ index rose 199.90 points or 1.47% at 13814.49. The high price reached 13826.82. The low extended to 13692.01
  • Dow industrial average rose 179.35 points or 0.52% at 34756.39. The high price reached 34772.12. The low price extended to 34618.69
  • Russell 2000 index closes up 7.16 points or +0.31% at 2286. It’s high price reached 2293.67. The low price extended to 2277.39
The biggest gain or of the Dow 30 was salesforce with a gain of 2.28%.
All major indices higher_
The biggest loser in the Dow 30 was Travelers at -0.63%.
Dow 30 losers
Outside of the Dow 30, below is a list of some of the other bigger winners for the day. Roblox which recently IPO would near the $70 level, traded above $100 this week.  Nvidia is cracking above the $700 level of the first time:
Other market winners
Losers today included the recent Meme gainers.  Blackberry fell -12.78%. AMC fell -6.53% and Gamestop fell -3.89% .
The market losers
For the trading week, the major indices all rose modestly:
  • S&P rose 0.69%
  • NASDAQ rose 0.57%
  • Dow rose 0.85%

Major indices close lower. NASDAQ index sheds 1%

  
Analysis, US Market

Dow snaps five they win streak

The NASDAQ index is leading the decline with its biggest decline in three weeks. It also increases the up one day/down the next day string to 11 consecutive days.

  • S&P index is down for the second time in three days
  • Dow industrial average snaps it’s a five date when streak
  • NASDAQ index falls over -1%
  • Discretionary move felt -1.22%
The final numbers are showing:
  • Dow industrial average -23.4 points or -0.07% at 34,576.98.
  • NASDAQ index -141.82 points or -1.03% at 13,614.51
  • Russell 2000 index -18.58 points or -0.81% at 2279
  • S&P index fell -15.3 points or -0.36% at 4192.82
Leading the Dow 30 to the upside today is Merck, +2.15% and Procter & Gamble +1.81%.
Dow winners
The losers of the Dow, were led by Intel -2.16% and Boeing -2.10%.
Dow losers
The meme stocks get back some of their strong gains seen of late, with Bed Bath & Beyond leading the way at -27.88%. AMC entertainment felt -17.95% after trading as high as $72+ yesterday (and closing up over 90% yesterday).
Meme stocks fell today
On the topside, Ford and GM had big days to the upside with Ford rising by 7.31% and General Motors rising by 6.39%.
Ford and GM outperformed

US Indices give up most of the earlier gains but still close higher

  
Analysis, US Market

Major indices little changed

The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day.
    • The Dow industrial average has extended its winning streak to 5 trading days.
    • The Dow is 2% from its all-time high
    • The S&P is up 4 of the last 5 trading days.
    • The S&P is less than 1% from the all-time high
    • The up one day, down the next for the Nasdaq index is on day 10.Today was an up day (tomorrow lower?).
    • Energy is a best-performing sector as crude oil rallies to the highest level in 2 1/2 years.

The Meme frenzy continued today with:

  • AMC shares up 95% on the day
  • Bed Bath & Beyond rose 62.11%
  • Blackberry rose 31.92%
  • GameStop up 13.34%
The closes for the day are showing:
  • S&P index rose 6.10 points or +0.15% at 4208.14
  • NASDAQ index rose 19.85 points or 0.14% at 13756.33.
  • Dow rose 25.07 points or 0.07% at 34600.38
  • Russell 2000 rose 3.09 points or 0.13% at 2297.83
At the highs and lows for the day,
  • The S&P was up 15.32 points and down -3.78 points
  • The Nasdaq was up 39.41 points and down -46.74 points
  • The Dow was up 131.34 points and down -29.35 points

US stocks close mixed. S&P 3 day win streak is broken

  
Analysis, US Market

Nasdaq modestly lower. Dow higher

It is a mixed market in the US equities today.
  • The Dow close higher for the fourth consecutive day
  • The S&P index snapped its three day winning streak and closes near session lows. The index got within four points of its all-time intraday high
  • The Nasdaq close lower
  • energy sector closes 4% higher
  • Russell 2000 up three of the last four trading days
The final numbers are showing:
  • S&P index fell -2.05 points or -0.05% at 4202.05
  • Nasdaq index fell -12.26 points or -0.09% at 13736.48
  • Dow rose 46.25 points or +0.13% at 34575.70.
  • Russell 2000 index rose 25.77 points or 1.14% at 2294.74
Big winners today included some of the typical meme stocks:
  • AMC, +22.47%. Shares are up 1400% since the beginning of the year.  They raised $230 million of capital.
  • Blackberry +14.7%
  • GameStop, +11.89%
  • Nio, +9.68%
  • Koss, +4.33%
Other winners included:
  • Schlumberger, +5.46%
  • Tencent, +3.53%
  • Roblox, +3.33%
  • Corsair, +3.17%
  • Boeing, +3.12%
  • Box, +2.87%
  • Goldman Sachs, +2.8%
  • AirBnB, +2.73%
Looking at the Dow30, the top 5 winners are:
  • Boeing, +3.12%
  • Goldman Sachs, +2.8%
  • Chevron, +2.75%
  • American Express, +2.24%
  • Bank of America, +1.25%
The top five losers are:
  • J&J, -2.29%
  • Amgen, -1.86%
  • Procter & Gamble, -1.5%
  • Nike, +1.44%
  • UnitedHealth, -1.25%

US Indices stumble into the long weekend, giving back most gains

  
Analysis, US Market

Meme stocks had a big turnaround

Meme stocks had a big turnaround
Shares of AMC went for a wild ride today in the latest meme stock mania. The company closed Thursday at $26.75 then soared to $36.72 at the open before turning around to finish 1.5% lower at $26.12.
Shares of GME finished 12.6% lower after opening 3% higher as well.
The selling in meme stocks and the overall market accelerated late ahead of the US month end and a long weekend that will keep markets closed through Monday.
On the day:
  • SPX up 3 points to 4204 (high of 4218) +0.1%
  • DJIA +0.2%
  • Nasdaq +0.1%
  • Russell 2000 -0.2%
  • Toronto TSX +0.4% (new record)
On the week:
  • SPX +1.2%
  • DJIA +0.9%
  • Nasdaq +2.0%
  • Russell 2000 +2.4%
  • Toronto TSX +1.6%

On the month:

  • SPX +0.6%
  • DJIA +1.9%
  • Nasdaq -1.5%
  • Russell 2000 +0.1%
  • Toronto TSX +4.1%
The chart of the Nasdaq above is an interesting one. The drama for the year certainly isn’t over because that’s eventually going to break in one direction or the other. Lately, it’s shown it can handle a bit of taper talk and that’s a positive.
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