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rssDow, S&P close at another record high
Nasdaq lags once again. Russell 2000 also closes at a record
The Dow and the S&P closed at another record high.
- Dow has its best week since November
- Nasdaq index lags once again as the rotation into the major cyclicals continues
- The Russell 2000 also closed at a record level today
The final numbers are showing:
- S&P index, +3.99 points or +0.10% at 3943.33
- NASDAQ index -78.81 points or -0.59% at 13319.86
- Dow industrial average +292.46 points or 0.90% at 32778.05
For the week:
- S&P index rose 2.64%
- Dow Jones industrial average increased by 4.07%
- Nasdaq index rose by 3.09% %
Year to date:
- Dow is now up 7.1%
- S&P is up 4.99%
- Nasdaq is up 3.35%
For the Dow 30 this week, the biggest winner was Boeing. The largest drag was from Coca Cola.
Dow winners for the week:
- Boeing, +20.55%
- Walgreens, +12.73%
- Home Depot, +7.7%
- Goldman Sachs, +6.52%
- Cisco, +5.58%
- Nike, +5.32%
- Visa, +4.12%
- DuPont, +4.11%
- Caterpillar, +4.02%
Dow losers for the week:
- Coca-Cola, -0.85%
- Verizon, -0.64%
- Apple, -0.31%
- salesforce, +0.68%
- American Express, +0.82%
- Amgen, +1.14%
- Procter & Gamble, +1.65%
- Microsoft, +1.81%
- Merck, +2.04%
Other big winners for the week include:
- GameStop, +91.91%
- Koss, +88.16%
- Express, +79.67%
- AMC, +38.39%
- US steel, +30.19%
- Rite Aid +26.44%
- Box, +23.55%
- Nio, was 19.39%
- Tesla, +16.07%
- Airbnb, was 14.78%
- American Airlines, was 14.28%
- Palantir, +12.36%
Some losers this week:
- Raytheon, -17.17%
- GE, -7.5%
- DoorDash, -6.27%
- Goodrx, -5.5%
- Tencent, -5.31%
- Gilead, -4.83%
- Lam research, -4.13%
- Snowflake, -4.07%
- Alphabet, -2.25%
- Boston Scientific, -1.75%
- Micron, -1.3%
- Alibaba, -0.89%
Record closes for the S&P, Dow and Russell 2000
Nasdaq lead the way with a gain of 2.56%
The S&P, Dow and Russell 2000 all closed at record levels today. The Nasdaq index led the way to the upside, but is still 5 1/2% away from it all time high.
- Dow up for the 5th consecutive day and closed at a new record for the 3rd consecutive day
- S&P is up for the 3rd consecutive day and trading to a new all time high at 3960.27.
- Nasdaq index closed back above its 50 day MA at 13358.083 (closed at 13398.67).
The final numbers are showing:
- S&P index rose 40.53 points or 1.04% at 3939.34. The new all time intraday high reached 3960.27. The low extended to 3915.54
- Nasdaq rose 329.84 points or 2.52% at 13398.67. The hi reached 13433.62. The low extended to 13246.32
- Dow rose 188.57 points or 0.58% at 32485.59. The new intraday high reached 32661.59. The low reached 32345.70.
- Russell 2000 rose 52.86 points or 2.31% at 2338.54. The index is up for the 5th consecutive day.
The technology sector represents 39% of the capitalization of the S&P 500, contributes 6% of GDP and only generates 2% of jobs.
S&P 500 closes up 0.6% after another wild ride
Meme stock insanity continues
- S&P 500 +23 points to 3899, +0.6%
- DJIA +1.4%
- Nasdaq -0.1%
- Russell 2000 +1.8%
There were some big swings in sentiment throughout the day. The the low CPI number calmed nerves and then decent 10-year auction also helped.
The ‘two markets’ theme I’ve been highlighting was particularly noticeable today as broad markets and small caps cheered lower rates but the Nasdaq was in its own world after yesterday’s surge.
Shares of GameHost went on an absolutely insane ride, hitting the record closing high of $347 and then crumbling to $172 only to rebound again to $264 at the close. Expect more of the same after hours. The most highly-traded option was an $800 call expiring Friday.
US stocks close higher across the board. Nasdaq leads the way.
Some selling into the close.
The US stocks are closing higher on the day with the Nasdaq leading the move higher. The Dow, which has been the leader in the short term, has closed higher but lagged today.
- Nasdaq has the best November. Closes 8% below record high
- Dow closes 1% from all time high
- S&P closed less than 2% from the all time high
- Dow posts 3-day win streak
The final numbers are showing:
- The S&P is closing up 54.10 points or 1.42% at 3875.46
- The Nasdaq is closing up 464.66 points or 3.69% at 13073.82. The high reached 4.30%
- The Dow rose +30.30 points or 0.10% at 31832.74. The high reached 347 points or 1.09% at the highs
Overnight US Market : The stock rotation continues out of high-tech and into cyclicals
Higher yields remain the catalyst
The longs in the technology stocks continue to get hammered and the rotation into the cyclical continues as fears of interest rates have traders repricing the high flyers of 2020.
The final numbers are showing:
- S&P index -20.72 points or -0.54% at 3821.23
- NASDAQ index -310.98 points or -2.41% at 12609.16
- Dow industrial average rose 306.21 points or +0.97% at 31802.51
The NASDAQ index closed below its 100 day moving average for the 1st time since October 30.
Some of the oversized decliners today included:
- Doordash -11.92%
- Snowflake, -10.74%
- Chewy, -8.01%
- Zoom, -7.91%
- Nio, -7.66%
- Nvidia, -6.99%
- Square, -6.74%
- Broadcom, -6.57%
- Palantir, -5.91%
- Tesla, -5.86%
On the positive side, some of the Reddit meme stocks were in the big gainers:
- Express, +62.6%
- Gamestop, +40.1%
- Koss, +26.79%
- AMC, +15.52%
- Bed Bath and Beyond, +10.32%
Airlines also rose sharply:
- United airlines, +7.03%
- Southwest Airlines, +6.41%
- American Airlines, +4.94%
- Delta Air Lines, +3.61%
Big cap high flying names of 2020 had a tough time of it today as well:
- Facebook -3.35%
- Amazon -1.58%
- Apple, -4.13%
- Netflix, -4.48%
- Microsoft -1.79%
- Alphabet -4.3%
Other winners included:
- Walt Disney, +6.27%
- Whirlpool, +3.46%
- Ford, +3.10%
- MasterCard, +2.9%
- Citigroup, +2.82%
- Cisco Systems, +2.79%
- Exxon, +2.39%
- General Motors, +2.29%
- Home Depot, +2.16%
S&P 500 companies accumulate more than $ 2 trillion in cash.
Major indices have another wild ride in trading today
Major indices close near highs for the day
It was another wild day in the equity complex.
The major indices are all closing higher and near their session highs after earlier falls were erased.
- Dow posted the best weekly performance in four weeks
- NASDAQ sees its second straight weekly loss
- Dow S&P and NASDAQ snap three day losing streak
- Russell 2000 index increases by 2.11% to lead the way today
A look of the final numbers shows:
- S&P index up 73.4 points work +1.95% at 3841.86. At the lows, the S&P was down -1.02%.
- NASDAQ index of 196.67 points or 1.55% at 12920.14. At the lows and NASDAQ was down -2.57%
- Dow industrial average up 571.7 points or 1.85% at 31495.84. At the lows the Dow industrial average was down -0.51%
- Russell index rose 45.28 points or 2.11% at 2192.92. At the lows of the Russell index was down -2.88%.
Major indices tumble with the NASDAQ/Russell index lead the declines
Russell index falls -2.76%. The NASDAQ index was -2.11%
The major indices tumbled once again with the NASDAQ and Russell 2000 index leading the way to the downside. Feds Powell’s interview with the Wall Street Journal did not help hope that the Fed chair would look to talk down (or act on) the higher long-term rates. That did not happen.
- The Dow industrial fell -722 point at the lows or -2.31%
- The NASDAQ index turned down on the year (the 3 day decline has seen the index declined -6.506% That is the March 3 day decline since September 3)
- The Nasdaq fell -3.41% at the lows
- The S&P fell -2.52% at the lows
- The Russell 2000 index fell -4.42% the lows
At the close the major indices did recover some of the losses but still remains sharply lower on the day:
- S&P index fell -51.25 points or -1.34% at 3768.47
- NASDAQ index fell -274.27 points or -2.11% at 12723.47
- Dow industrial fell -345.95 points or -1.11% at 30924.14
- the Russell index fell -60.87 points or -2.76% at 2146.92