Archives of “dow jones industrial average” tag

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European shares end the session with sharp declines

  
Analysis, Global Indices
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German DAX -1.8%

The major European shares are ending the session with sharp declines. For the year, the major European indices are also in the red.  A look at the provisional closes are showing:

  • German DAX, -1.8%
  • France’s CAC, -2.0%
  • UK’s FTSE 100, -1.9%
  • Spain’s Ibex, -2.4%
  • Italy’s FTSE MIB, -1.4%
For the year, changes are all in the red led by a 7% decline in the UK FTSE 100.
  • German DAX, -3.4%
  • France’s CAC, -5%
  • UK’s FTSE, -7%
  • Spain’s Ibex, -3.1%
  • Italy’s FTSE MIB, -1.6%
In other markets as the European/London traders look to exit are showing:
  • Gold is still negative. It is trading down $10.80 or -0.65% at $1648.10. The spot price tried rebound and move higher on the fall in stocks, but seems to have sellers above. Recall that in yesterday’s trade, there was a large seller reported in the futures market which helped push the price lower in the New York afternoon session
  • WTI crude oil futures are following the risk off sentiment with the contract trading down -$0.89 or -1.7% at $50.54. The price is not far off the low at $50.37. The high reached $52.02
In the US stock market, the NASDAQ is leading the charge to the downside. It is currently down -100 points or -1.11% and 9116.
  • Dow -308 points or -1.11% at 27653
  • S&P index -34.5 points or -1.07% at 3191
  • Nasdaq down -100 points or -1.11% at 9116

Dow tumbles more than 1000 points. Worst day since Feb 8, 2018

  
Analysis, US Market
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S&P worse day since December 2018

The Dow is closing down over 1000 points on the day. It is the workstations February 8, 2018. The S&P index at its worst day since December 2018.  The Dow, S&P and Nasdaq each fell over 3.3% on the day with the NASDAQ hit the hardest at -3.71%.
The Dow and the S&P are now negative on the year:
  • Dow -2.02%
  • S&P index, -0.15%
  • The Nasdaq index is still up on the year at +2.77%
The final numbers are showing:
  • S&P index -111.82 points or -3.35% at 3225.93.  The low price for the day reach 3214.65. The high extended to 3259.81.
  • Nasdaq index fell minus 355.309 points or -3.71% at 9221.28. The low for the day reached 9166.00. The high reached 9322.879.
  • Dow fell -1031.33 points or -3.56% at 27961. The low for the day reached 27912.44. The high for the day was up at 28402.93

Big losers on the day include:

  • United health, -7.87%
  • AMD, -7.83%
  • Tesla, -7.49%
  • Schlumberger, -7.4%
  • Nvidia, -7.13%
  • Delta airlines -6.31%
  • Twitter, -6.29%
  • Wynn Resort, -6.03%
  • Intuitive Surgical -5.38%
  • Morgan Stanley, -5.21%
  • Charles Schwab, -5.19%
  • FedEx -5.16%
  • Citigroup, -5.10%
  • American Express, -4.97%
  • Cisco, -4.95%
  • Visa, -4.82%
Are there any winners today?
  • Gilead, +4.66%
  • US steel, +1.73%
  • Chewy, +1.3%
  • First Solar, +1.25%
  • Verizon, -0.3%. Verizon was the strongest of the Dow 30 stocks
  • General Mills only fell -0.37%

 

30 year yield falls to a new all time low

  
  Analysis
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The headline of the day is that the 30 year yield traded to a new all time low of 1.8843%. That took out the August 2019 low yield of 1.9039% and although the yield is closing above that old low, the closing level will be the lowest on record.

Forex news for NY trading on February 21, 2020

Helping the yields move lower is the:

  • Expectation of a cut in US rates by July and potential for another cut later in the year
  • Flight to safety flows
  • Lower global growth from the coronavirus
  • Dollar buying as the US remains a safe haven
  • The Markit Service and Composite PMI data was below the 50.0 level while the manufacturing index was lower than expectations as well.
The 10 year yield also moved lower and approached the swing low from 2019 at 1.4272%. The low yield today reached 1.4359% before rebounding into the close to 1.4700%.  The all time low yield was in 2016 at 1.3180% (see chart below).
The 10 year yield fell below support at 1.50% and looks toward the 2019 low yield at 1.4272%
Below is a table of the current, high and low yields for the US debt along the yield curve.   The 2-10 year spread also flattened to 12.14 basis points from 12.60 basis points yesterday.
The US yields are moving lower. US stocks today fell with the Nasdaq leading the way down. For the day, the Nasdaq fell -1.79% after being down as much as 2.14% at the low. The S&P index closed down a more modest -1.05% after falling as much as -1.33%.   For the week, the major indices fell with the Dow down -1.46%, the S&P down -1.07% and the Nasdaq index down -1.39%.
Gold was another big mover today and this week. The price of gold is trading up $24.00 or 1.48% at $1643.43. The high for the day reached $1649.26. That was the highest level since February 2013. For the week, the price of gold settled last Friday at $1584. The current price at $1643.43 is a $59.43 gain for the week or 3.75% gain.   Big breakout move for gold this week.
Gold moved up nearly $60 this week
The fall in stocks, rise in gold, fall in yields led to a fall in the USD today. The USD was the weakest of the major currencies today. The strongest currency was the GBP (but it came off the highs in the NY session).   The dollar fell by 0.61% vs the GBP. It also fell versus the EUR by -.59% vs the EUR and -0.58% vs the CHF.

Major indices close lower. Indices also lower for the week

  
Analysis, US Market
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All-time highs were made but Thursday and Friday selling take the gains away

The major stock indices are ending the day lower with the NASDAQ falling by -1.79%. In a week where the NASDAQ and S&P index made new all-time highs, selling on Thursday and Friday have taken those gains away. The major indices are ending the week lower.

The final numbers are showing:
  • Dow industrial average -227.30 points or -0.78% at 28992.68
  • S&P index -35.55 points or -1.05% at 3337.68
  • NASDAQ index -174.38 points or -1.79% at 9576.59.
For the week, the Dow industrial average was the weakest followed closely by the NASDAQ index:
  • Dow industrial average, -1.46%
  • S&P index, -1.07%
  • Nasdaq index -1.39%

European shares close mostly lower but off lows for the day

  
Analysis, Global Indices
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German DAX, -0.16%, France’s CAC, -0.36%

The major European indices are now close for the day and indices are closing lower but well off the lows for the day. The provisional closes are showing:

  • German DAX, -0.16%. It was as low as -1.26%
  • France’s CAC, -0.36%. It was as low as -1.25%
  • UKs FTSE 100, -1.25%. It was as low as -1.69%
  • Spain’s Ibex, -0.16%. It was as low as -1.47%
  • Italy’s FTSE MIB bucked the trend and rose by 0.19% That is up from a low of -1.10%.
In debt market, the benchmark 10 year yields are mostly lower with the exception of the UK. The ranges and changes are currently showing:
The European 10 year yields are mostly lowerIn other markets:
  • Spot gold is trading up $10.07 or 0.64% $1576.09
  • WTI crude oil is up $0.27 or 0.53% of $51.45
in the US equity market, the earlier declines in stocks have been mostly raised in the broad indices at least. The Dow is still negative:
  • S&P index is down -1.5 points or -0.5% at 3378. The hi reached 3380.36
  • NASDAQ index is unchanged at 9725.40. The high reached 9732.87.
  • Dow is down 78 points or -0.27% at 29471.4.
In the US debt market, yields are off lows but still remain modestly lower on the day.
US yields are still lower but off the lowest levels
The ranking of the major currencies shows the GBP is the strongest and the NZD is the weakest.

More Powell testimony: Will see virus impact in data fairly soon

  
  Analysis
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More from chair Powell’s testimony in the Senate

  • we will see virus-infected data fairly soon
  • affects could be important in China
  • supply chains is an important issue.
  • Financial markets can also transmit a reaction to virus

Fed Powell concludes his testimony at 11:24 AM ET.

Overall, the comments were in line with yesterday’s testimony and really didn’t shed any new light that we don’t already know. Coronavirus major concern but it’s too early to tell. The Fed is in continue repo operations the 2nd quarter. The economy is in a good place.
US stocks have been waffling back and forth but moving back higher. The S&P index is just off the day’s high level as is the NASDAQ index. The Dow industrial average is a little further off the intraday record high levels

The NASDAQ and S&P close at record levels

  
Analysis, US Market
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Give up most of gains. Dow ends unchanged

The NASDAQ and S&P index are closing at record levels. That is the good news. The bad news is the major indices are closing well off the highs for the day.
The final numbers are showing:
  • The S&P index is closing up 5.68 points or 0.17% at 3357.77. The high reached 3375.63. The low extended to 3352.72
  • The the NASDAQ index is closing up 10.552 points or 0.11% at 9638.94. The high reached 9714.738. The low extended to 9617.211
  • The Dow fell -0.48 points to 29276.34. The high reached 29415.39. The low extended to 29210.47.
At the highs, the S&P index was up 0.70%, the NASDAQ index was up 0.90% and the Dow industrial average was up 0.47%.

S&P and NASDAQ closed at record levels. Major indices go out near highs

  
Analysis, US Market
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NASDAQ index rises by 1.13%

The NASDAQ juggernaut has continued with the index rising by 107.87 points or 1.13% on the day. For the year the index is now up over 7%.
Both the NASDAQ and the S&P closed at record levels today. The Dow industrial average is still short of its all-time record.
The final numbers are showing:
  • S&P index +24.38 points or 0.73% at 3352.09. The high price reached 3352.26. The low extended to 3317.77.
  • NASDAQ index +107.87 points or 1.13% at 9628.39. The high price reached at 9628.66. The low extended to 9493.62.
  • Dow industrial average +174.31 points or 0.60% at 29276.82. The high price reached 29215.00. The low extended to 28850.00

Some of the big winners on the day included:

  • Slack, +15.44%.
  • Lyft, +7.41%
  • AMD, +5.09%
  • Nvidia, +4.51%
  • Chipotle, +3.09%
  • Tesla, +3.06%
  • Amazon, +2.63%
  • Microsoft, +2.59%
  • Boeing, +2.35%
  • Alphabet, +2.00%
  • Cisco, +1.90%
  • General Motors, +1.84%
  • Tencent, +1.8%
  • Square, +1.7%
  • Visa, +1.64%
  • Home Depot, +1.39%
Some of the underperformers during today’s trading day include:
  • Twitter, -2.89%
  • Exxon Mobil, -2.47%
  • DuPont, -1.48%
  • Charles Schwab, -1.14%
  • Walmart, -1.03%
  • Deutsche Bank, -0.96%
  • United health, -0.76%
  • Pfizer, -0.63%
  • Emerson, -0.52%
  • AliBaba, -0.38%

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

  
Analysis, US Market
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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%

Stocks end ugly as weekend coronavirus fears can’t slow the slide

  
Analysis, US Market
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Dow down -600 points/-2.09%

The US stocks end an ugly day near the lows for the day. The Dow industrial average fell by over 600 points/2%. It was the worst day since August 23.  Moreover the Dow ended the month lower for the 1st time in 5 months. For the S&P it had their worst day since October 2 . The Dow ended the month lower for the 1st time in 5 months.  The S&P and NASDAQ had their worst start to the year in 5 years.  You get the picture.

The final numbers are showing:
  • S&P fell -58.14 points or -1.77% to 3225.52
  • Nasdaq fell -148 points or -1.59% to 9150.94
  • Dow fell -603.41 points or -2.09% to 28256.03.
For the month, the Nasdaq did still and positive for the month, but the S&P and Dow closed the month lower.
  • S&P, -0.16%
  • Nasdaq, +1.99%
  • Dow, -0.99%
In Europe today the major indices also closed near session lows. On what happened and Portugal but the PSI 20 did peek out a gain for the day.
Dow down -600 points/-2.09%
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