Archives of “dow jones” tag

rss

Dow ends 526 points higher, extending win streak to three days

  
Analysis, US Market
#  #  #  #  #  #  #  #

U.S. stocks closed higher Tuesday, but off the session’s best levels, after Federal Reserve Chairman Jerome Powell suggested more fiscal stimulus may be needed as the American economy may only make a slow recovery from the COVID-19 pandemic.

Rising coronavirus cases in several U.S. states are also are concern for investors, even though retail sales and industrial production data show the economy is slowly recovering, and progress on the development of potential therapeutic drugs has been reported.

How did benchmarks fare?

The Dow Jones Industrial Average DJIA, +2.04% rose 526.82 points, or 2%, to end at 26,289.98. The S&P 500 index SPX, +1.89% added 58.15 points to close at 3,124.74, a gain of 1.9%. The Nasdaq Composite Index COMP, +1.74% advanced 169.84 points, or 1.8%, to end at 9,895.84.

All three benchmarks extended their win streak to three straight sessions, but finished below their best levels of the day.

Stocks rally into the close but still off highest levels

  
Analysis, US Market
#  #  #  #  #  #  #

Stocks have worst week in 3 months

The major stock indices rallied into the close but are still selling off the highest levels.

  • The stocks have the worst week in 3 months
  • Dow and S&P have their 1st positive day after 4 days down
  • stocks rebounded after the plunge on Thursday
a snapshot of the major indices at the close shows:
  • S&P index +39.21 points or 1.31% at 3041.31
  • NASDAQ index rose 96.02 points or 1.01% at 9588.80
  • Dow rose 477.37 points or 1.9% at 25605.54.
Although higher, the gains were well off the highs but also well off the lows (closing around mid range).
  • S&P index was up as much as 2.88% but was as low as -0.59%
  • Nasdaq index was up as much as 2.91% but was as low as -0.83%
  • Dow was up as much as 3.33% but was as low as -0.20%.
Below are the % high, low and closes for the major NA and European indices for today.
Stocks have worst week in 3 months For the week, the major indices all fell with the Dow the weakest.
  • S&P, -4.78%
  • Nasdaq, -2.3%
  • Dow, -5.55%

Major indices have worst day since March 16th.

  
Analysis, US Market
#  #  #  #  #  #  #  #  #

Dow and S&P down for the 3rd day in a row

The major indices had there worst day since March 16 as concerns about the growth prospects and increases in coronavirus cases weigh on equities.  Initial jobless claims should another 1.5 million increase which certainly did not help.

  • The Dow is closing at the lowest level since May 27.
  • The Dow and S&P are down for the 3rd day in a row
  • all 30 of the Dow stocks close lower with Boeing the weakest at -16.42%
  • worst day since March 16 for the major indices
  • The NASDAQ index snapped it’s a 4 day win streak
  • Dow and S&P on track for its worst week in 3 months
  • S&P index closes below its 200 day moving average at 3013
  • the Dow industrial average is within 300 points of a 10% decline from the high (24824 is the level)
  • the Dow industrial average fell back below its 100 day moving average at 25123.55, but is closing just above that level at 25128.13
The final numbers are showing:
  • S&P index -188.04 points or -5.89% up 3002.10. The low for the day reached 2999.49. The high was way up at 3123.53
  • NASDAQ index fell -527.62 points or -5.27% to 9492.72. That was just above the low for the day at 9491.30. The high was up at 9868.02
  • The Dow industrial average fell 1861.82 points or -6.9% to 25128.13. The low for the day reached 25082.72. The high was up at 26294.08
big losers today included:
  • Boeing, -16.42%
  • United Airlines, -16.09%
  • Delta Air Lines, -14.01%
  • Citigroup, -13.37%
  • Schlumberger, -11.60%
  • Southwest Airlines, -11.58%
  • Marriott, -10.91%
  • Fiat Chrysler, -10.10%
  • Bank of America, -10.0%
  • Ford Motor, -9.9%
  • Wells Fargo, -9.83%
  • PNC financial, -9.62%
  • Goldman Sachs, -9.14%
  • IBM, -9.12%
  • J.P. Morgan, -8.37%
The pattern of airlines and financials are chief among the biggest decliners today.
The biggest gainer in the Dow 30 today was Walmart which only fell by -0.87%. Procter & Gamble was the next best performer with a -2.41% decline.
Were there any winners today?
  • Zoom increase by 0.54%

Major indices close near session highs.

  
Analysis, US Market
#  #  #  #  #

Dow was down -362 points at the low

The major indices are closing higher and near session highs. Hopes for a successful reopening of America is helping the indices move higher today. Earlier in the session, the indices were down as concerned about the reigniting of US China trade tensions on the back of the Trump administration putting the blame of the coronavirus to China over the weekend.
Time heals all wounds in US stocks (or so it seems), and the NASDAQ was the 1st index to turn positive, followed by the S&P and finally the Dow industrial average. Disney and Boeing were the earlier drags on the Dow. Disney trading as low as $100.55. It is closing at $103.26 down -2.14%. Boeing traded as low as $124.35. It is closing at $131.38, down -2%.
The final numbers for the major indices are showing:
  • The S&P index +12.03 points or 0.43% at 2842.74. The S&P index traded as low as -1.16%.
  • The NASDAQ index rose 105.76 points or 1.23% 8710.71. The NASDAQ index traded as low as -0.78%.
  • The Dow industrial average rose 26.07 points or 0.11% at 23749.76. The Dow industrial average traded as low as -1.53%.

Bloodbath : Major indices get hammered. All 3 major indices down -4.4% on the day

  
Analysis, US Market
#  #  #  #  #  #  #  #  #

Major indices lose 1% additional in the last 15 minutes of trading on major liquidation

the major indices in the US get hammered once again with the Dow, S&P and Nasdaq indices all lower by -4.4%

The S&P and Dow had there worst point drop in history (not % though).  Major indices all closed in correction (down over 10% from the highs).
The final numbers are showing:
  • S&P index, -137.89 points or -4.42% at 2978.51.
  • The NASDAQ index -414.29 points or 4.61% at 8566.48.
  • Dow industrial average 1192.27 points or -4.42% at 29765.33
Year to date, the
  • Dow is down -9.71%
  • S&P is down -7.8%
  • Nasdaq is down -4.53%
From the high last week, the major indices are showing:
  • NASDAQ index -13%
  • S&P is down -12.30%
  • Dow is down about 12.9%
The Vix, often called the fear index has moved up to 38.5. That surpasses the 36.2 high from December 2018.  That’s the highest level since February 2018. The highest volatility index going back to 2015 moved up to 50.3 and 2018 and 53.29 and 2015.

US Indices close the day down and also close lower on the week

  
Analysis, US Market
#  #  #  #  #  #  #  #  #

Nasdaq falls 0.8% to today

The major US stock indices are ending the session in the red for the day. The declines today also helped push/keep the week lower.
The final numbers are showing:
  • S&P index -14.72 points or -0.49% at 2992.07.
  • NASDAQ index -65.20 points or -0.80% at 8117.68
  • Dow industrial average -159.72 points or -0.59% at 26935.07
For the week, the major indices fell with the Dow industrial average falling the most.
  • S&P index, -0.51%
  • NASDAQ composite index -0.72%
  • Dow industrial average, -1.05%

Trump will meet with advisors today on cutting capital gains

  
  Analysis
#  #  #  #  #  #

Trump to meet economic team today

Dow Jones reports that Trump will once again meet with advisors today on the topic of cutting capital gains taxes by indexing them to inflation. The move would be a massive boon to long-term investors but punch a huge hole in the deficit over time. It would also face court challenges from Congress.
The meeting will also focus on broader proposals to cut taxes, according to the report which cities unnamed sources.

US Major indices all close at record highs (and close at the highs for the day)

  
Analysis, US Market
#  #  #  #  #  #  #  #

S&P index closes above the 3000 level for the 1st time ever

Its the Triple Crown. All three of the major US stock indices closed at session highs. For the S&P index, it is closing above the 3K level for the very first time after toying with moves above on Wednesday and Thursday only to fail.
The final numbers are showing:
  • The S&P index of 13.84 points or 0.46% at 3013.75
  • THE NASDAQ index of 48 points 102 points or 0.59% at 8244.14
  • The Dow is up 243.95 points or 0.90% at 27332.02
Below is a graphical look at the %low, %high and %close. The highs and the close % are basically the same thing today.
For the week, the major indices are ending higher with the Dow leading the way:

  • Dow, up 1.52%
  • Nasdaq, up 1.01%
  • S&P, up 0.78%
For the month of July, the major indices have tacked on decent gains (after a stellar 1H)
  • Dow up 2.75%
  • S&P, up 2.45%
  • Nasdaq up 2.97%.
Next week will begin earning announcements for the 2Q. Below are a snapshot of some of the major releases over the next two weeks, starting with Citigroup on Monday and JP Morgan on Tuesday. The market is going into earnings at all time record highs (I don’t know if that is good or bad).  The market seems extended but it is “hard to fight City Hall”
the earnings calendar for the next few weeks

Technically Speaking

  
Analysis, Education
#  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #  #

A great reminder from technical analyst John Murphy:

“The statement ‘market action discounts everything’ forms what is probably the cornerstone of technical analysis. […] The technician believes that anything that can possibly affect the price–fundamentally, politically, psychologically, or otherwise–is actually reflected in the price of that market.”

Alfred Cowles adds:

“This evidence of structure in stock prices suggests alluring possibilities in the way of forecasting. In fact, many professional speculators, including in particular exponents of the so-called Dow Theory widely publicized by popular financial journals, have adopted systems based in the main on the principle that it is advantageous to swim with the tide.”

William Dunnigan adds:

“We think that forecasting should be thought of in the light of measuring the direction of todays trend and then turning to the Law of Inertia (momentum) for assurance that probabilities favor the continuation of that trend for an unknown period of time into the future. This is trend following, and it does not require us to don the garment of the mystic and look into the crystal balls of the future.”

Richard Donchian adds:

“When I first got into commodities, no one was interested in a diversified approach. There were cocoa men, cotton men, grain men they were worlds apart. I was almost the first one who decided to look at all commodities together. Nobody before had looked at the whole picture and had taken a diversified position with the idea of cutting losses short and going with a trend.” (more…)

Go to top