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Equity close: A stumble to end a shinning month

  
Analysis, US Market

Closing changes for the main North American bourses

SPX weekly chart
  • S&P 500 -31 points or 0.7% to 4180
  • Nasdaq -0.9%
  • DJIA -0.5%
  • Russell 2000 -1.6%
  • Toronto TSX -0.7%
On the week:
  • S&P 500 flat
  • Nasdaq -0.4%
  • DJIA -0.5%
  • Toronto TSX flat
On the month:
  • S&P 500 +5.2%
  • Nasdaq +5.4%
  • DJIA +2.7%
  • Toronto TSX +2.2%
What bothers me at the moment is that there is a double doji star on the weekly chart after a long, one-way rally. That’s setting up a big move.

US equity close: One day to go in April

  
Analysis, US Market

Equity bulls hope this month never ends

It’s been a fantastic month for owning equities but it will come to an end tomorrow. There were signs of equity selling on rebalancing today but those shares were scooped up at midday and it was another strong day for stocks.
Here’s the rundown:
  • S&P 500 up 26 points to 4210 (+0.6%). Record close. Also hit intraday record at 4218
  • DJIA +0.7%
  • Nasdaq +0.2%
  • Russell 2000 -0.5%
  • Toronto TSX -0.4%

Apple reports EPS $1.40 versus estimate $0.99. Revenues $89.58 billion versus 77.30 billion estimate

  
Analysis, US Market

Apple earnings.  Stock closed at $133.58 down $0.81 or -0.60%. The stock trading up 1.2% at $135.20 prerelease

  • EPS $1.40 versus estimate $0.99
  • Revenues $89.58 billion versus estimate $77.3 billion
  • iPhones revenues of $47.938 billion versus $41.49 billion estimate
  • iPad $7.81 billion versus estimate $5.65 billion
  • Mac revenues $9.10 billion versus estimate $6.80 billion
  • Services $16.901 billion versus $15.57 billion estimate
  • Wearables, home and accessories $7.84 billion versus estimate $7.52 billion
  • Cash pile $204.37 billion
  • Apple boost quarterly dividend to $0.22 per share from 20.5 cents per share
  • Authorized boost of $90 billion to existing buyback program
  • The stock is trading up $4.66 or 3.49% at $138.24

US stocks close lower on the day

  
Analysis, US Market

Give up gains as Powell calls some markets frothy

the US stock indices are ending the session lower. The S&P gave up gains into the close and is closing just below unchanged. The Dow industrial average is the biggest loser. The Russell 2000 outperformed and is closing marginally higher.  The S&P and NASDAQ are on track for the best month since November.
A look at the final numbers show:
  • S&P index -3.27 points or -0.08% at 4183.45
  • NASDAQ index -39.19 points or -0.28% at 14051.03
  • Dow industrial average -161.59 points or -0.48% at 33823.34
  • Russell index +2.91 points or 0.13% at 2304.17

At the close: Tech lags as earnings roll in

  
Analysis, US Market

Closing changes for the main North American markets:

Closing changes for the main North American markets:
  • S&P 500 -1 to 4186
  • Nasdaq -0.3%
  • DJIA – flat
  • TSX +0.15%
Earnings are rolling out with Google blowing away estimates and climbing while MSFT sinks on results. During the trading session it was Google struggling and Microsoft finishing at the highs, which goes to show that not everything leaks.
Visa also beat and I’ll be looking for commentary on consumers.
Expect much more volatility in the main index for the remainder of the week as the Fed sets the tone. The mode lately has been to sell stocks after the Fed. Of course, every dip in the past year has been a buying opportunity.

Both the S&P and NASDAQ close at all time record highs

  
Analysis, US Market

NASDAQ index remains below its all-time intraday high. The S&P extended its all-time intraday high and backed off

Both the S&P index and the NASDAQ index are closing at record high levels.
  • For the S&P, the previous all time high close came in at 4185.47. The index closed just above that level at 4187.74
  • For the NASDAQ index the previous all-time high close came in at 14095.47.  Closing level came in at 14138.78
The Dow Jones lagged and close lower on the day. It is down for the second time in three days
The Russell 2000 was higher by 1.15%
The final numbers are showing:
  • S&P index close up 7.57 points or 0.18% at 4187.74. The high price reached 4194.19. That was just above the all-time high price reached on Friday at 4194.16
  • NASDAQ index rose 121.97 points or 0.87% at 14138.78. It’s high price reached 14154.03. The all-time high price is at 14175.12 reached on February 16
  • Dow industrial average felt -61.52 points or -0.18% at 33981.97
  • Russell 2000 closed up 26.13 points or 1.15% at 2297.99
below is the NASDAQ index. The prices currently between the previous record high close, and the all-time intraday high.
NASDAQ index remains below its all-time intraday high. The S&P extended its all-time intraday high and backed off Tesla report earnings after the close.
UPDATE for TESLA earnings:
  • earnings-per-share $0.93 versus $0.79 estimate
  • revenues $10.39 billion versus $10.29 billion estimate
  • expects to achieve 50% annual growth in deliveries
  • free cash flow $293 million versus estimate of -$82.8 million
The price of TSLA stock is trading above and below unchanged from the closing level in volatile trade. The stock price closed at $738.20.
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