The major US indices are all closing lower.

• The NASDAQ is down for the 6th’s consecutive day. The index is down -7.98% from the closing level on August 25
• The S&P and Dow industrial average fell 5 the last 6 trading days
• Energy led the S&P 500. Communication services was the big loser
• S&P 500 and worst weekly losing streak since June (3 weeks lower)
• NASDAQ and S&P closed at the lowest level since July 26
• The Dow is closing at its lowest level since July 18

• Dow industrial average -338 points or -1.07% at 31318.43
• S&P index -42.59 points or -1.07% at 3924.27
• NASDAQ index -154.25 points or -1.31% at 11630.87
• Russell 2000-13.07 points or -0.72% at 1809.74

For the trading week:

• Dow industrial average fell -2.97%
• S&P index fell -3.29%
• NASDAQ index fell -4.21%
• Russell 2000 fell -4.74%

A snapshot of the closing levels is showing:

• Dow is up 145.97 points or +0.46% at 31656.41
• S&P is up 11.87 points or 0.30% at 3966.86
• Nasdaq is down -31.07 points ro -0.26% at 11785.14
• Russell 2000 is down -21.29 points or -1.15% at 1822.81

• Dow industrial average fell -184.35 points or 0.57% at 32099
• S&P index fell -27.06 points or 10.67% at 4030.60
• NASDAQ index fell -124.03 points or -1.02% at 12017.68
• Russell 2000 fell -16.8 a points or -0.89% at 1882.941

The 3 major indices all closed below their 100 day MAs. The 100 day MAs for the major in theowdices come in at:

• Dow 32488.94 vs close of 32099.
• S&P 4068.38 vs close at 4030.60
• Nasdaq 12109.73 vs 12017.68

Looking at the 11 sectors of the S&P, energy was the big gainer. Information technology was the worst performer.

The winners today were:

• Energy, +1.54%
• Utilities, +0.25%
• Consumer staples, -0.15%

The losers today were:

• Information technology, -1.28%
• Real Estate, -0.88%
• Communication services, -0.78%

The major US indices are pricing at the session highs ahead of the Fed Chairs Jackson Hole speech tomorrow at 10 AM ET, and more hawkish comments from Fed officials today.

The gains are led by the Nasdaq indice which got a boost from lower yields. After two bad auctions on Tuesday and Wednesday, buyers showed up for the 7 year note auction which helped to push yields lower and boost risk on sentiment.

The final numbers are showing:

• Dow rose 322.53 points or 0.98% at 33291.79
• S&P rose 58.35 points or 1.41% at 4199.11
• Nasdaq rose 207.75 points or 1.67% at 12639.28
• Russell 2000 rose 29.34 points or 1.52% at 1964.63

• Dow industrial average fell -154.04 points or -0.47% at 32909.60
• S&P fell -9.28 points or -0.22% at 4128.72
• Nasdaq fell -0.26 points (call it unchanged) at 12381.31.
• Russell 2000 did eke out a small gain of 3.3998 points or +0.18% at 1919.14

• Dow industrial average is closing down one 643.15 points or -1.91% at 33063.62-
• S&P index is down -90.49 points or -2.14% at 4138.00
• NASDAQ index is modestly in 23.63 points or -2.55% at 12381.58
• Russell 2000 is down -41.60 points or -2.13% at 1915.74

All 11 sectors of the S&P move to the downside. The weakest included:

• consumer discretionary’s, -224%
• information technology, -2.78%
• communication services -2.66%

The best of the worst included:

• energy -0.25%
• consumer Staples -1.11%
• healthcare -1.38%

Leading the downside:

• Intel, -4.35%
• Salesforce, -3.64%
• Disney, -3.46%
• Microsoft, -2.94%

The best of the worst Dow stocks include:

• P&G, -0.24%
• J & J, -0.34%
• Chevron, -0.44%
• Verizon, -0.56%

For the week, the Dow, S&P and NASDAQ close lower for the 1st time in 5 trading weeks. The declines for the week showed:

• Dow -0.1%
• S&P -1.2%
• NASDAQ -2.62%

For the trading day:

• Dow industrial average fell -292.3 points or -0.86% at 33706.73
• S&P index fell -55.24 points or -1.29% at 4228.49
• NASDAQ index fell -260.12 points or -2.01% at 12705.23
• Russell 2000 fell 43.38 points or -2.17% at 1957.34.

• Dow industrial average up 18.7 points or 0.06% at 33999.03
• S&P index up 9.7 points or 0.23% at 4283.73
• NASDAQ index up 27.23 points or 0.21% at 12965.35
• Russell 2000 up 13.41 points or 0.68% at 2000.72

The Dow industrial average is closing above its 200 day moving average at 33870.48.

The S&P index remains below its 200 day moving average at 4322.87

Energy was the biggest sector today with a gain of 2.5%. Information rose by 0.5%. The biggest loser was real estate which fell by -0.75%. Existing home sales today were weaker than expectations.

For the trading week, the major indices are all on a 4 week win streak. However the NASDAQ index is down around -0.7% for the trading week. The S&P is marginally higher (0.07%). The Dow industrial average is up around 0.6%.

Looking ahead to tomorrow, there are no economic releases in the US. Canada will release their retail sales at 8:30 AM ET.

Tomorrow is option expiration date which can bring on some volatility.