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NASDAQ snaps a five day losing streak

Dow up over 700 points at the session highs

The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak.

Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks like United airlines, Delta Airlines and Southwest Airlines are also higher on the back of that news. Energy was the best performing sector as oil prices move back to the upside.
  • NASDAQ up for the first time in six sessions
  • Dow S&P, NASDAQ still on track for weekly losses
  • Russell 2000 index up nearly 2%
  • All S&P sectors are higher after yesterday saw the same sectors all lower
The final numbers are showing
  • Dow industrial average rose 483.53 points or 1.43% at 34327.45
  • S&P rose 49.55 points or 1.15% at 4357.09
  • NASDAQ index rose 118.12 points or 0.82% at 14566.70
  • Russell 2000 rose 37.26 points or 1.69% at 2241.63
For the week,, the major indices all closed lower.
  • Dow Jones -3.0%
  • S&P index -3.84%
  • NASDAQ index -3.13%

Berkshire Hathaway reduced J.P. Morgan stake in 2nd quarter

13F filings from Berkshire Hathaway

The latest 2nd quarter 13F filings from Berkshire Hathaway show:

  • reduced J.P. Morgan stake by 62%.
  • Exited Goldman Sachs position
  • Southwest air
  • United Airlines
  • Delta Air Lines
  • American Airlines
  • Restaurant Brands International
  • Occidental Petroleum
Other swings in positions show increased stakes in:
  • Store Capital Corp.
  • Kroger
  • Suncor energy
Reduces positions in:
  • Wells Fargo
  • J.P. Morgan
  • SiriusXM
  • PNC Bank
  • M&T Bank
  • Bank of New York Mellon
  • MasterCard
they added new positions in:
  • Gold
  • Barrick Gold

Strong close for US stocks

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%