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US broad market indices close with big gains

  
Analysis, US Market

S&P and NASDAQ close near session highs

The US broader market indices are closing with big gains led by the NASDAQ index.

  • Both the S&P and NASDAQ close near highs for the day
  • Russell 2000 broke a 5 day losing streak
  • All sectors of the S&P closed higher today
a look at the final numbers shows:
  • S&P index rose 59.61 points or 1.6% at 3773.83. The high price reached 3784.32. The low was at 3725.62
  • NASDAQ index rose 332.70 points or 2.55% to 13403.39. The high price reached 13431.45. The low extended to 13132.47
  • Dow rose 229.75 points or 0.77% to 30212.37. The high price reached 30335.91. The low extended to 30014.97
Some big winners today include:
  • Novavax, +21.34%
  • GoodRx, +7.21%
  • Tesla, +5.89%
  • Tencent, +4.89%
  • Alcoa, +4.39%
  • Alibaba, +4.31%
  • Amazon, +4.21%
  • Blackberry, +3.69%
  • Alphabet, +3.61%
  • Broadcom, +3.60%
  • Hoover +3.53%
  • Charles Schwab, +3.49%
  • Qualcomm +3.44%
  • Intuit, +3.3%
  • Microsoft, +3.29%
The meme stocks did not do well today and led the declines:
  • Koss, -45.47%
  • Gamestop, -30.77%
  • Express, -16.67%
  • Bed Bath and Beyond, -14.12%
Other losers:
  • Rite Aid, -10.5%
  • DuPont, -7.95%
  • Rackspace, -7.05%
  • Palantir, -3.55%
  • Walgreens, -2.83%
  • American airlines -1.92%
  • Airnbnb, -1.72%
  • Corsair, -1.51%

The earnings calendar for next week includes Amazon, Alphabet, PayPal, Chipotle

  
Analysis, US Market

Another big week for earnings next week

Next week is another big earnings week. This week’s results, although mostly better than expectations, saw investor sell into the bounces (generally speaking).

So what reaction will the results next week bring?
Below is a list of the major releases:
Monday
  • Warner music group
  • NXP
Tuesday
  • UPS
  • Pfizer
  • Alphabet
  • Chipotle
  • Amazon
Wednesday
  • Humana
  • Qualcomm
  • PayPal
  • eBay
  • Sony
Thursday
  • Merck
  • Bristol-Myers Squibb
  • Clorox Company
  • Activision Blizzard
  • Ford
Friday
  • Regeneron
  • Sanofi
  • Estée Lauder
  • Cardinal Health

US Major indices close down -2% on the day

  
Analysis, US Market

Dow industrial average down -2.03%.

All 3 of the major indices closed down around 2% on the day.

  • The Dow, S&P, NASDAQ each had their worst week since October.
  • The indices had there worst month since October.
  • The NASDAQ post the 3rd straight monthly gain.
  • The Dow and S&P closed down for the 1st month of the trading year
the final numbers are showing:
  • S&P index -73.17 points or -1.93% at 3714.21. The high price reached 3778.05. The low price extended to 3694.12
  • NASDAQ index fell -266.46 points or -2.0% at 13070.65. The high price reached 13322 while the low extended to 12985.05
  • Dow industrial average fell -622.78 points or -2.04% to 29980.56. The high price reached 30553.91. The low price extended to 29856.30.
For the week:
  • S&P index fell -3.31%
  • NASDAQ index fell -3.49%
  • Dow industrial average fell -3.26%
For the month:
  • S&P index fell -1.11%
  • NASDAQ index gained 1.42%
  • Dow industrial average fell -2.04%

Facebook and Tesla shares fall hard after earnings

  
Analysis, US Market

MSFT was a warning

Facebook earnings were also strong — but not as strong as MSFT or NFLX — and shares have responded with an afterhours fall to $257 from $274.
Tesla shows what happens when you miss. The company earned 80-cents compared to $1.03 expected and, even with a modest revenue beat, shares are down over 10% after hours.
MSFT was a warning
That’s not a pretty picture.
There’s also Whirlpool, which makes things like washers and dryers which is down to $203 from $216 after a decent beat. The company commentary so far is upbeat, with the CEO highlighting the strong housing market in statement.

US stocks have a volatile up and down trading day

  
Analysis, US Market

NASDAQ index close higher. Down industrial average has a modest decline

The US stocks are closing mixed with the NASDAQ index leading the way to the upside. The Dow industrial average fell modestly but closed near the day’s highs. The S&P was in between although it too closed near session highs.

The NASDAQ index closed at a another record high. The S&P index also closed at a record (the previous high was at 3853.07)

A look at the major indices at the close show:
  • S&P index up 13.91 points or 0.36% at 3855.38
  • NASDAQ index closed up 92.93 points or 0.69% at 13,635.99
  • Dow fell -36.91 points or -0.12% at 30960.07
The stock story today focused on the WallStreetBets stocks which have dominating the chatter over the last few days.
Today GameStock (GME, soared to a high of $159.18 before tumbling back down to settle at $76.92. That was still up 18.32% on the day. Other high flyers today included Blackberry which rose by 20.49% and AMC Entertainment which increased by 25.5%.
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