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S&P index leads the way. NASDAQ lags but closes higher for the 2nd straight day

  
Analysis, US Market
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S&P index closes just below breakeven level for 2020

The US stocks are ending the session with gains across the board. The gains are led by the S&P index which rose by 0.91%. The NASDAQ index lagged, but still gained 0.59%.

For the S&P index, it toyed with closing above the breakeven level for the year for the 1st time since February 25. However, that quest failed. The index is ending the day 0.13% from that breakeven level (2019 closes at 3230.78 while the close today is at 3226.56).

This week there has been a rotation out of the high flying tech stocks vs. the broader/industrial stocks. For the last 5 trading days the Dow industrial average is up 3.08% and the S&P index is up 1.79%, while the tech heavy NASDAQ index is up only 0.55%.
Nevertheless both the NASDAQ and the S&P index are up for 2 consecutive days. The Dow is riding a 4 day win streak.
The final numbers are showing:
  • S&P index +29.03 points or 0.91% at 3226.55
  • NASDAQ index up 61.915 points or 0.59% at 10550.49
  • Dow up 227.51 points or 0.85% at 26870.10.
Will tomorrow be the day for the S&P index to close the black? Maybe, but going forward headline news from more earnings releases, coronavirus cases, vaccines and therapeutics will continue to exert their influences. Each of which could upset the apple cart in a bullish or bearish direction.

Strong close for US stocks

  
Analysis, US Market
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Major indices close at session highs

Today saw the stock market rotate into the Dow and broader S&P indices. The tech heavy NASDAQ was the laggard. However a late day surge “raised all boats”. The Dow had its best day since June 29. The dow rose for the 3rd day in a row.

The final numbers are showing:
  • S&P index rose 42.39 points or 1.34% to 3197.61
  • NASDAQ index rose 97.73 points or 0.94% to 10488.53
  • Dow industrial average rose 557.72 points or 2.14% at 26643.53
Leading the Dow 30 were:
  • Caterpillar, +4.96%
  • Travelers, +3.8%
  • Chevron, +3.49%
  • Exxon Mobil, +3.31%
  • Home Depot, +3.25%
  • McDonald’s, +3.19%
  • UnitedHealth, +2.96%
  • Goldman Sachs, +2.58%
  • Boeing, +2.48%
Other big gainers today included:
  • First Solar, +9.96%
  • Alcoa, +9.47%
  • Rite Aid, +7.57%
  • Schlumberger, +5.81%
  • Ford Motor, +5.12%
  • NVIDIA, +3.31%
Laggards included:
  • Wells Fargo, -4.55%
  • Intuit, -4.13%
  • Citigroup, -3.93%
  • Slack, -3.14%
  • LYFT, -3.02%
  • Delta Air Lines, -2.61%
  • Uber, -2.51%

NASDAQ tumbles over 2% after reaching all time

  
Analysis, US Market
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California rolling back reopening and the outside the lower close pressure tech talks

The US stocks are ending the session with mixed/negative results. The Dow industrial average actually close marginally higher on the day. The S&P index and NASDAQ, however, reversed earlier gains and fell sharply. Contributing to the declines was the news that California was rolling back some of the reopenings

  • The S&P index fell -29.77 points or -0.93% at 3155.27. The S&P index turned briefly positive for the year above 3230.78% intraday with the high price reaching 3235.32. That is the 2nd time since February 25 that the price briefly extended above the close from 2019 only to fail in the same trading day. Bearish
  • NASDAQ index -226.59 points or -2.13% at 10390.84. The index had a outside day lower close, after trading to a new all time high of 10824.78. Bearish
  • The Dow industrial average close up 10.7 points or 0.04% 26086.00
All the major indices closed near the lows for the day, after giving up some hefty gains.
  • The S&P index was up 1.58% before closing down -0.94%
  • the NASDAQ index is up 1.95%, before reversing lower in closing down -2.13%
  • the Dow industrial average was up +2.13% before reversing and closing near unchanged at +0.04%.
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