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No new record highs. The NASDAQ and S&P back off from all time highs

  
Analysis, US Market

Dow lagged all day

The S&P and NASDAQ both make bonds at all time highs (and all time high closes) but gave up just ahead of the levels and are closing mixed. The the NASDAQ was the only index to hold onto gains today. The Dow industrial average lagged the broader indices all day.  The NASDAQ is well off its highs but still close higher on the day for the 2nd consecutive day. The S&P and Dow close lower for the 2nd day in 3 days.
The final numbers are showing:
  • S&P index down -6.92 points or -0.20% at 3373.43. The  high price reached 3387.24 that was just off the all-time high of 3393.52. The S&P index is up 4.42% on the year
  • NASDAQ index closed up 30.265 points or 0.27% at 11042.50. It’s high price reached 11124.85. It’s a low extended to 11007.50.  The all-time high price from last week comes in at 11126.04. The NASDAQ index is up 23.07% on the year
  • Dow industrial average closed down -80.12 points or -0.29% at 27896.73. It’s high price reached 27986.10. It’s low price extended to 27789.78. The Dow remains -2.25% below the year-end the level
Some winners today included:
  • Zoom, +4.44%
  • Tesla, +4.16%
  • First solar, +3.06%
  • Square, +2.98%
  • Chipotle, +2.95%
  • Chewy, +2.78%
  • Papa John’s, +2.58%
  • Beyond Meat, +2.54%
  • Apple, +1.76%
  • Slack, +1.4%
  • Nike, +1.23%
Big losers today included
  • Cisco, -11.2% (guidance disappointed the market)
  • Micron, -4.83%
  • Tencent, -4.12%
  • Exxon Mobil, -2.43%
  • Schlumberger, -2.36%
  • Qualcomm, -1.99%
  • Walgreens Boots -1.96%
  • Goldman Sachs, -1.81%
  • United Airlines, -1.68%
  • Bank of America -1.44%
  • Caterpillar -1.36%
  • IBM -1.36%
  • Intel -1.28%

 

S&P closes just below all time high closing level.

  
Analysis, US Market
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Nasdaq rises 2.13% on the day

The major indices are all closing higher led by the Nasdaq index.
  • The Dow and S&P are up 9 of the last 10 days
  • The Nasdaq broke the 3 day losing streak.
  • The S&P rose to above the all time highest close at 3386.15 intraday,  but has closed just below that level.
  • The Dow is 2% from recouping all the 2020 losses.
The final numbers are showing:
  • The S&P index closed at 3380.35, that is up 46.66 points or 1.4%. The high reached 3387.89. The low reached 3355. 46.
  • The Nasdaq index closed up 229.41 or 2.13% at 11012.22. The high reached 11036.71. The low reached 10877.16
  • The Dow closed  up 289.93 points or 1.05% at 27976.84. The high reached  28043.89. The low extended to 27843.32.

Dow, S&P 500 see 7-day winning streaks

  
Analysis, US Market

The Dow Jones Industrial Average US:DJIA finished with a loss of 104.53 points or 0.4%, at 27,686.91. The blue-chip gauge was up more than 300 points at its session high. The S&P 500 US:SPX ended 26.78 points lower, a loss of 0.8%, at 3,333.69. The Dow and the S&P 500 both snapped seven-day winning streaks. The tech-heavy Nasdaq Composite US:COMP dropped 185.53 points, or 1.7%, closing at 10,782.82.

The Russell 2000 index US:RUT of small-capitalization companies gave up 9.57 points, or 0.6%, ending at 1,575.10.

Dow closes at the highest level since February 24, and just 2.6% from unchanged on the year

  
Analysis, US Market
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Dow and S&P are up for the 7 days in a row

The Dow industrial average led the way for stocks to the upside with a 1.3% gain.

  • The Dow index close at the highest level since February 24th and is just 2.6% from unchanged on the year.
  • Both the Dow and S&P have closed higher for 7 consecutive days.
  • The S&P index is the longest winning streak since April 2019.
  • The Dow’s winning streak is the longest since September 2019.
  • The S&P is less than 1% away from an all-time high close
  • The NASDAQ index closed lower on the day and is on a 2 day losing streak.
The final numbers are showing:
  • S&P index up 9.21 points or 0.27% at 3360.49. The high price reached 3363.29. The low price extended to 3335.44
  • NASDAQ index fell 42.67 points or -0.39% to 10968.35. The high was up at 11,040.25 while the low extended to 10,849.46
  • the Dow industrial average rose 357.96 points or 1.3% to 27791.44. The high price reached 27803.86. The low price extended to 27488.21.
The biggest winners in the Dow included:
  • Boeing, +5.52%
  • Caterpillar, +5.26%
  • Raytheon technologies, +4.87%
  • Nike, +3.48%
  • Chevron, +3.41%
Biggest losers in the Dow included:
  • Microsoft, -1.95%
  • Disney, -0.89%
  • J&J, -0.44%
  • McDonald’s, -0.22%
  • Coca-Cola, -0.17%
Other winners today included:
  • US steel, +11.67%
  • Wynn Resorts, +9.95%
  • United Airlines, +9.35%
  • FedEx, +8.89%
  • Delta Air Lines, +7.95%
  • Alcoa, +6.17%
  • Southwest Airlines +5.14%
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