Major US indices close higher but off their highest levels

NASDAQ recoups 1.25%

The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day.

Some highlights:
  • Dow industrial average recouped all of the declines from Monday’s trade
  • NASDAQ index has the best day since August 23
  • NASDAQ is still  6.29% below the all-time high. At the low, reached yesterday, the price moved -7.93% from the high
  • S&P index is 4.4% below the all-time high. At its low reached yesterday the index fell -5.87%
  • The Dow industrial average is down -3.68% from its all-time high

A look at the final numbers shows:

  • Dow industrial average rose 3 and 11.73 points or 0.92% at 34314.68
  • S&P index +45.24 points or 1.05% at 4345.71
  • NASDAQ index up 178.36 points or 1.25% at 14433.84
The major indices were buoyed by some short covering and dip buying. Having said that, the S&P index intraday moved back above its 100 day moving average at 4351.31. However the momentum could not be sustained, and the price moved back below that moving average level. For the NASDAQ index, it’s high price reached 14508.65. That was short of the 100 day moving average at 14521.12.
US yields are higher

NASDAQ closes at a record high for the 33rd time this year

S&P fails on attempt to close at record

Selling into the close today pushed the S&P index into the red after trading higher for most of the day. However it is still ending the day with a small gain.

The NASDAQ index is also closing near it’s session lows but had a more solid gain for the day, and is closing at a record level.
The Dow industrial average spent most the day negative and is closing down for the day.

Highlights of the day:
  • NASDAQ traded at a new intraday record high of 15379.50
  • NASDAQ index closed at a record level for the 33rd time this year
  • S&P index fell just short of reaching a new all-time high and could not hold onto a record closing level either.
  • NASDAQ is up for the second consecutive day
The final numbers are showing:
  • Dow industrial average felt -47.51 points or -0.13% at 35313.22
  • S&P index rose 1.49 points or 0.03% at 4524.17
  • NASDAQ index rose 50.15 points or 0.33% 15309.38
  • Russell 2000 rose 13.28 points or 0.58% at 2287.06
Looking at the S&P sectors, the gains were led by:
  • Real estate, +1.7%
  • Utilities, +1.3%
  • Consumer staples, +0.5%
  • Communications +0.5%
The decliners were led by:
  • Energy, -1.5%
  • Financials, -0.6%
  • Industrials -0.4%
  • Material -0.3%

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Major indices close higher but come off highs in the last hour or so of trading

S&P and NASDAQ index is still close at record highs

The major indices close higher but come off the highs and last hour so trading. Nevertheless both the NASDAQ and S&P closed at record high levels. The NASDAQ closed at record highs for the 46th time this year.

A snapshot of the close shows:
  • S&P index up 40.81 points or 1.13% at 3662.44.  The new all time high price comes in at 3678.45
  • the NASDAQ index close up 156.36 points or 1.28% at 12355.10. The new all-time intraday high price reached 12405.70
  • the Dow industrial average rose 185.28 points or 29823.92. The high price did extend back above the 30,000 level to a high price of 30083.31

S&P and NASDAQ index close at new record highs

Dow falls on the day

Both the S&P and NASDAQ index closed at record highs today. The gain in the S&P index from the March low has now risen over 54%. The Dow industrial average did not fare as well. It fell by -0.24% on the day. The NASDAQ index continued its surge and outperformed the other indices once again.

A look at the final numbers are showing:
  • S&P index rose 7.78 points or 0.23% at 3389.77. The close today surpassed the February 19 high close of 3386.15.  The index they also took out the high intraday level from February 19 that 3393.52. The new all-time intraday high price is 3395.06. The S&P index is now up 4.92% year-to-date
  • NASDAQ index also closed at a new record high. It moved up by 81.118 points or 0.73% to 11210.84. The intraday high price of 11230.61 is now the new all time high intraday level. The low price reached 11103.83. The NASDAQ index year-to-date is up 24.95 points
  • Dow industrial average fell -66.84 points or -0.24% to 27778.07. It’s high price reached 27891.12, while its low extended to 27668.79. The Dow industrial average is still down -2.66% on the year.
The flow funds in the US also did not benefit the small-cap Russell 2000. It fell by -1.02% on the day.
The European markets also did not do well today. Each of the major indices gave up gains and closed lower on the day led by the UK FTSE which fell by -0.83%.
US and European stock indices

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US stocks catch a big bid in the final 15-minutes of trading to limit the damage

Dramatic move late

The S&P 500 finished the day down just 24 points at 2954 in a big win for the bulls late in the day.
The index gained more than 70 points in the final 15 minutes of trading in a huge bid, that was likely helped by month-end rebalancing. The huge rallies in bond and selling in stocks this month left pensions and other balanced funds heavily overweight bonds, so they’re forced to buy to get back on target.
There may also be hopes for an emergency Fed cut on the weekend or some good coronavirus news. There’s no doubt the market could have overshot this week, with the S&P 500 posting its worst weekly performance since October 2008 — when Lehman Brothers collapsed.
The intraday chart shows the huge reversal that kicked off a test of the earlier low of 2880.
On the day:
  • S&P 500 -25 points to 2954 (-0.8%)
  • Nasdaq – flat
  • DJIA -1.4%
On the week:
  • S&P 500 -11.5%
  • DJIA -12.4%
  • Nasdaq -10.5%
The weekly chart is still ugly but at least the bulls have some lift as we closed off the weekly lows:
SPX weekly
We will have to get back above the 200-dma at 3046 to generate any real optimism.

US Indices add to their gains. Nasdaq/S&P close at record levels

S&P just misses making a new all time intraday high today (short by $0.19)

The US stocks are closing up for the 3rd day in a row.
The NASDAQ index is closing at a session high and reached an intraday all-time high of 9574.936.
The S&P index reached a high price of 3337.58. That was just short of the all-time high price of 3337.77. So it was just short of that level. However, it is closing at an all-time record high taking out the previous high from January 17 at 3329.62.
The Dow is still below its all-time high, but it was the biggest mover today.
The levels at the close are showing:
  • S&P index +37.13 points or 1.13% at 3334.71
  • Nasdaq index +40.71 points or 0.43% at 9508.68
  • Dow up 483.09 points or 1.68% at 29290.73
Big winners for the day included:
  • Chubb, +7.06% the
  • Unitedhealth, +5.31%
  • IBM, +4.85%
  • Exxon Mobil, +4.64%
  • Emerson, +3.85%
  • United Airlines, +3.7%
  • Boeing, +3.66%
  • Bank of America, +3.24%
  • 3M, +3.21%
  • Chevron, +3.21%
  • travelers, +3.14%
  • Citigroup, +3.08%
  • Caterpillar, +2.89%
  • Intel, +2.89%
  • DuPont, +2.64%
  • Charles Schwab, +2.48%
  • General Dynamics, +2.47%
Losers today the included:
  • Tesla, -17.04%
  • Ford Motor, -9.54%
  • Lyft, -3.82%
  • Chipotle, -3.5%
  • Square, -3.07%
  • Walt Disney, -2.35%
  • Gilead, -2.28%
  • Twitter, -1.77%
  • Chewy, -1.65%
  • AliBaba, -1.21%
  • Starbucks, -0.93%
  • Amazon, -0.52%
  • Tencent, -0.45%

Overnight US Market : Major indices close at record levels and near intraday highs

NASDAQ index rises 1.06% as buying continues

The major US indices are closing at record levels and near session highs as well.
The final numbers are showing:
  • the S&P index up 27.61 points or 0.84% at 3316.89. The high reached 3317.11. The low extended to 3302.82
  • the NASDAQ index rose 98.438 points or 1.06% at 9357.13. The high was at 9357.92. The low extended to 9301.32
  • The Dow rose 267.35 points or 0.92% at 29297.53. The high reached 29243.00. The low extended to 29131.95

Happy days are here again and again and again.

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