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Major indices close lower for the 3rd straight day

  
Analysis, US Market

Major indices recover off session lows

The major indices close lower for the 3rd straight day. However the indices closed well off there lows for the day.

Highlights include
  • S&P and NASDAQ on track for weekly gain
  • Dow on track for its 1st losing week in 3 weeks
  • Healthcare was the worst sector while energy was the strongest
  • The Dow was down -332 point at the low
  • The S&P index was down -47.78 points at the lows
  • The NASDAQ was down -219.63 points
  • S&P and NASDAQ close 3% below its all-time high
  • Dow closes 4% below its all-time high
  • Dow is still negative on the year (-0.16%). The NASDAQ is up 30.55% while the S&P is up 7.82% year-to-date.

The final numbers are showing:

  • the S&P index fell -5.33 points or -0.15% at 3483.34. The high price reached 3489.08. The low price extended to 3440.89
  • the NASDAQ index fell 54.858 points or -0.47% at 11713.82. The high price reached 11740.68. The low price extended to 11559.10
  • the Dow industrial average fell -19.8 points or -0.07% at 28494.26. The high price reached to 28535.85. The low price extended to 28181.54.
In the European markets today, the major indices move lower with the Italy FTSE MIB down -2.77%. The Spain’s Ibex was the least hit at -1.44%. The German DAX fell by 2.49%

Major indices trim losses

  
Analysis, US Market

S&P and NASDAQ trim losses

With 37 or so minutes ago into the close, the major indices are making a comeback.

  • The S&P index is down -6 points or -0.17% at 3482.62. The high price reached 3483.35. The low price extended to 3440.89
  • The Dow industrial average is down 11 points or -0.04% at 28503.32. It’s low price reached 28181.54
  • the NASDAQ index still lags behind but has cut the laws to -48 points or -0.4% at 11722. It’s low price reached 11559.10
The clock is ticking the close. Remember the major indices have been down for 2 consecutive days, but the pairs are well off there lows

Major indices close lower for the 2nd consecutive day

  
Analysis, US Market
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NASDAQ leads the way lower

The major indices close lower for the 2nd consecutive day. The NASDAQ index was the weakest

of the majors today.

Some highlights:
  • S&P and NASDAQ index is trading lesson 3% from the all-time high
  • Stocks have their first 2 day losing streak since September 18
  • The Dow industrial average turned back for 2020
  • UnitedHealth care was the biggest drag on the Dow
  • Russell 2000 of small-cap stocks fell by -0.93%
The final numbers are showing:
  • The S&P index fell -23.32 points or -0.66% to 3488.61. The high price reached 3527.94. The low price extended to 3480.55
  • The NASDAQ index fell -95.166 points or -0.80% to 11768.73. It’s high price reached 11939.91. The low price extended to 11714.35
  • The Dow industrial average closed down -165.83 points or -0.58% to 28513.98. The high price reached 28792.56. The low extended to 28461.73.

BoA says S&P500 ‘melt-up’ top to come between the election and inauguration

  
Analysis, US Market

An analyst at Bank of America says 3,600 will mark the top.

  • To come between election and inauguration day.
Citing investors getting in ahead of good news on:
  • fiscal stimulus, expected in Q4
  • a coronavirus vaccine, fund managers expecting this in Q1 2021
And also Federal Reserve monetary support for the market, which will peak this year and not be repeated in 2021.
 “We believe the top in asset prices comes between election & inauguration, as fiscal, vaccine, recovery fully priced-in with SPX>3600, and bond yields on the rise” 

US Indices end the session higher but come off the best levels of the day

  
Analysis, US Market
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NASDAQ index has its best day since September 9

The major indices are all closing higher with the NASDAQ index leading the way.

Highlights include
  • major indices rise for the 4th consecutive day
  • NASDAQ index has its best day cents September 9
  • S&P and NASDAQ close lesson 2% below its all-time high
  • 10 of 11 sectors in the S&P rise materials move lower
  • record close for the Dow transports

A final look at the closing numbers shows:

  • The S&P index rose 56.99 points or 1.64% at 3534.12. The my price reached 3549.85. The low price extended to 3499.61
  • The NASDAQ index close up 296.31 points or 2.56% at 11876.25. It’s high price reached 11965.53. The low extended to 11704.133
  • The Dow industrial average rose 250.62 points or 0.88% at 28837.52 The high price reached 28957.90. The low price extended to 28659.67.
Apple shares outperformed with a 6.26% gain. The company will release their new iPhone on October 13. Amazon also outperformed with a 4.75% gain. The delayed Amazon prime day(s) will be on October 13 and October 14.
Other big gainers today included:
  • Twitter, +5.1%
  • Chewy, +4.63%
  • Facebook, +4.26%
  • Morgan Stanley, +3.91%
  • Alphabet, +3.6%
  • Nvidia, +3.37%
  • Goldman Sachs, +3.18%

Stocks close at the highest level since September 2. Dow closes positive for the year

  
Analysis, US Market

Indices close near the highs for the day

The US stock markets are closed for the day.  All 3 major indices close higher on the day led by the NASDAQ index.
Highlights for the day include
  • Dow’s close positive for 2020
  • Major indices close at the highest level since September 2
  • Dow enjoys its best week in 2 months
  • NASDAQ leads the charge higher today, this week
  • S&P NASDAQ best weeks in more than 3 months
  • Major indices close higher for the 3rd consecutive day
  • S&P closed at 3% below the all-time high
The final numbers are showing:
  • S&P index rose 30.30 points or 0.8% the 3477.13
  • NASDAQ index rose 158.96 points or 1.39% at 11579.94
  • Dow industrial average closed up 161.39 points or 0.57% at 28586.90
For the week, each of the indices enjoy gains of over 3.25% led by the NASDAQ index:
  • S&P index rose 3.84%
  • NASDAQ index rose 4.56%
  • Dow industrial average increase by 3.27%
Year-to-date the NASDAQ still outperforms by a substantial amount:
  • S&P index up 7.63%
  • NASDAQ index up 29.06%
  • Dow industrial average up 0.17%

US Major indices close higher for the 2nd straight day

  
Analysis, US Market

All 11 sectors of the S&P closed higher

The major indices close higher for the 2nd consecutive day and 3rd time in 4 days this week.
  • The Dow industrial average closed at the highest level since September 2
  • S&P and NASDAQ close that highest level since September 3
  • the Russell 2000 leads the way with a 1.09% gain
  • S&P 500 closes lesson 4% from the all-time high
  • NASDAQ index closes 5% below the all-time high
  • The Dow industrial average is only negative on the year by -0.4%
The final numbers are showing:
  • S&P index rose 27.38 points or 0.8% at 3446.83. The high price reached 3447.28. The low price extended to 3428.15
  • NASDAQ index closed up 56.38 points or 0.5% at 11420.98. It’s high price was up at 11448.23. It’s low price extended to 11384.33
  • Dow industrial average closed up 122.05 points or 0.43% at 28425.53. The high price reached 28459.13. The low price extended to 28265.56
  • The Russell 2000 index rose 17.1 points or 1.06% on the day at 1628.27. The Russell 2000 index is still down -2.43% year to date.
The changes of the major stock indices
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