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No records for the Dow and S&P. Nasdaq and Russell 2000 have record closes

  
Analysis, US Market

Modest changes for the major indices

The Nasdaq and Russell 2000 both closed at record levels, but the S&P and Dow could not hold onto gains and are closing lower (and not at records).  All were only modest gains or losses.
The final numbers are showing:
  • S&P index -4.33 points or -0.11% at 3911.26
  • NASDAQ index up 20.057 points or 0.14% at 14,007.69
  • Dow down 10.07 points or -0.03% at 31375.65
  • Russell 2000 index  up 9.9 points or 0.43% at 2299.66

Record closes across the board with small caps/NASDAQ leading the way

  
Analysis, US Market

Russell index rises by 2.36%.

The major indices are all closing at record high levels, with today the Dow Industrial Average joining the S&P, Nasdaq and smaller cap Russell 2000 index (they each closed at records on Friday).   The indices are also closing near the highs for the day.

Leading the way is the Russell 2000 which is up 2.2%. The NASDAQ rose by 0.95% and closed at the highs.
Of interest is that despite the solid gains, those gains were made without participation materially from Amazon (-0.87%), Netflix (-0.52%), Alphabet (-0.21%), Salesforce (-0.04%),Microsoft (+0.11%) and Apple (+0.11%).  Is the market telling us something about big cap tech stocks?
The final numbers are showing:
  • S&P index rose 20.76 points or 0.74% to 3915.59. That was just off the high at 3915.77.
  • NASDAQ indexrose 131.345 points or 0.95% to 13987.64. The hi for the day reached 13987.73
  • Dow industrial average rose 237.52 points or 0.76% to 31385.76. The high for the day reached 31386.10
  • Russell 2000 is trading up 52.6 points or 2.36% at 2285.913.  It too is just off the high.

Stocks end a solid week with gains today

  
Analysis, US Market

NASDAQ index leads the way

The major US stock indices are ending a solid week with gains across the board.  Of the big 3 indices, the NASDAQ led the way. However, the Russell 2000 have the largest gains at 1.27%.
  • The S&P and NASDAQ and Russell 2000 all closed at record levels
  • Dow, S&P on track for 5 day winning streak
  • major indices had their best week since early November
For the day:
  • S&P index rose 15.06 points or 0.39% to 3886.80
  • NASDAQ index rose 78.55 points or 0.57% at 13856.29
  • Dow rose 92.25 points or 0.30% to 31148.11
For the trading week,
  • Dow industrial average rose 3.89%
  • S&P index rose 4.65%
  • Russell 2000 index rose 7.59%

Record closes for the S&P and NASDAQ index

  
Analysis, US Market

Russell 2000 also closes at a new record high

The major indices all closed with solid gains led by the small Russell 2000 index which surge by 1.8%. The NASDAQ composite index rose by about 1.23%.
  • Record high closes for the NASDAQ, S&P, and Russell 2000
  • The major indices all closed near their highs for the day
A look at the closing numbers shows:
  • S&P index up 41.57 points or 1.09% at 3871.74. The high price reached 3872.42. The low price extended to 3836.66
  • NASDAQ index up 167.19 points or 1.23%. The high price reached 13778.41, while the low extended to 13631.62
  • The Dow industrial average closed up 332.07 points or 1.08% at 31055.67. The high price reached 31024.93. The low price extended to 30737.78
Apple shares jumped today by about 2.58% as it nears deal with Hyundai – Kia to make the Apple car. PayPal shares soared by over 7% after their earnings beat at the close yesterday.
Other gainers today included:
  • PayPal, +7.46%
  • Rite Aid, +5.55%
  • Southwest air, +5.54%
  • AirBNB, +5.44%
  • Chubb, +4.81%
  • Corsair, +4.79%
  • Lyft, +4.57%
  • DoorDash, +4.24%
  • Square, +4.22%
  • FireEye, +4.31%
  • Visa, +3.85%
  • Travelers, +3.57%
  • American Express, +3.49%
  • Boston Scientific, +3.47%

Major indices close mixed and give up gains into the close

  
Analysis, US Market

S&P and Dow leads the way higher. NASDAQ closes lower on late day sell off

The major indices are closing mixed, but gave up most of the day gains into the close.
A look at the closing levels shows:
  • S&P index rose 3.77 points or 0.10% at 3830.08. The high price reached 3847.51. The low price extended to 3816.68
  • NASDAQ index fell -2.23 points or -0.02% to 3610.54. The high price reached 13723.83. The low price extended to 13585.34
  • Dow industrial average rose and 35.46 points or 0.12% to 30723.01. The high price reached 30793.41. The low price extended to 30521.31
Some earnings releases after the close include Qualcomm and PayPal.
Qualcomm:
  • adjusted earnings-per-share of $2.17 vs. $2.10 expected. Revenues came in a $8.23 billion vs. 8.27 billion estimate
  • They see 2nd quarter revenues of $7.2 billion – $8 billion which is higher than the 7.1 billion estimate
Shares of Qualcomm are down close to 7% after the close after the revenue miss ($-11.30 to $151.53)..

Major indices post 2 day winning streak. Amazon and Google beat on earnings. Bezos to step down from CEO role

  
Analysis, US Market
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S&P post the best day to day performance since November

The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close.
The final numbers are showing:
  • S&P index +52.37 points or 1.39% at 3826.24
  • NASDAQ index up 209.38 points or 1.56% at 13612.77
  • Dow industrial average rose 476.23 points or 1.58% at 30688.14
After the close, both Google and Amazon have beaten on the top and bottom lines. Alphabet shares are currently trading up 4.21% to near $2000 a share.
Alphabet had
  • revenues of $56.90 billion vs. $53.13 billion estimate
  • earnings-per-share came in at $22.30 cents vs. $15.90 cents estimate
For Amazon, CEO basis said that he will transition to role of executive chair. Andy Jassy will become the new CEO of Amazon.  Jassy is a long time Amazon employee and built AWS.  The announcement is a surprise. Amazon’s basals is to focus on new products and early initiatives according to the headline news.
Amazon shares are currently trading higher by about 1.3% and volatile trading.
For Amazon:
  • Earnings-per-share came in at $14.09 vs. $7.34 estimate
  • net sales came in at $125.56 billion vs. 119.70 billion
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