Archives of “dow jones industrial average” tag

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US stocks opened lower and closed lower

  
Analysis, US Market
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…but off lows for the day

The US major stock indices opened lower and closed lower. The low for the Dow reached -1.61%. For the Nasdaq it reached -1.45%. For the S&P it fell by as much as -1.18%.  However, the indices did recover some of those declines by the close.
The final numbers are showing:
  • The S&P fell -20.02 points or -0.69% at 2906.27
  • The Nasdaq fell -88.72 points or -1.11% at 7874.16
  • The Dow fell -285.26 points or -1.08% at 26118
Below are the % ranges for the North American and European markets for the day.  All major indices are ending lower.

Higher close for US equities with the Dow leading the way

  
Analysis, US Market
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2 of 3 days higher.

Earlier in the day, when stocks opened lower, the headline was “Stocks down – 4 of 5 days lower”.
Now after a higher close, the headline reads “Stock up – 2 of 3 days higher”
Both are NOT fake news, but the 2nd one is the reality for the day.
US major indices are ending higher with the Dow stocks leading the way today.
The final numbers are showing:
  • The S&P index rose 18.78 points or 0.65% at 2887.94.
  • The Nasdaq index rose 29.937 points or 0.38% at 7856.88
  • The Dow rose 258.20 points or 1.00% at 26036.10.
The biggest Dow 30 winners on the day included:
  • Pfizer, +2.15%
  • UnitedHealth, +1.98%
  • United Technologies, +1.85%
  • Nike, +1.78%
  • Home Depot, +1.73%
  • Walt Disney, +1.51%
  • Boeing, +1.45%
  • Bank of America, +1.44%.

An ugly day for US equities. Major indices down for the week.

  
Analysis, US Market
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Dow falls over 600 points.  Nasdaq down -3.0%

It was an ugly day for the US equities. The Dow fell over 600 points. The Nasdaq is closing down -3%.  UGLY.
The escalation of the trade ward is to blame. Pres. Trump has threatened retaliation for the new China tariffs.  He also continued the criticism of the Fed’s Powell.
The final numbers are showing:
  • The S&P fell -75.84 points or -2.59% at 2847.11
  • The Nasdaq fell -239.62 points or -3.00% at 7751.77
  • The Dow fell -623.34 points or -2.37% at 25628.90
Looking at the % ranges for the major indices below, the major indices in US and Europe all closed at or near the session lows today.
Dow falls over 600 points.  Nasdaq down -3.0%

Looking at the point changes, the Dow was down -745 points at the lows.

The point changes of the major indices
For the week, the major indices are ending the week in the red as well:
  • The S&P fell -1.43%
  • The Nasdaq fell -1.83%
  • The Dow fell -0.99%.
Big losers today:
  • AMD, -7.4%
  • Broadcom, -5.39%
  • NVIDIA, -5.16%
  • Tesla, -4.84%
  • Qualcomm, -4.71%
  • Apple, -4.62%
  • Alibaba, -4.29%
  • Micron, -4.06%
  • Intel, -3.89%
  • American Express, -3.65%

US stocks erase yesterday’s declines (and then some) and close with decent gains

  
Analysis, US Market
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Ignores the 2-10 going negative again

The US stocks erased the declines from yesterday (and then some). The gains also ignored what was a flattening of the yield curve to flat 2-10s again (although positive now by a basis point or two).
The final numbers are showing:
  • The S&P index +23.92 points or 0.82% at 2924.43
  • The NASDAQ index of 71.646 points or 0.90% at 8020.20
  • The Dow industrial average of 240.29 points or 0.93% at 26202.73.
Below is a summary of the % change high/% change low/% change close for the North American and European major indices.  Most European indices had an even better day.
Ignores the 2-10 going negative againBelow are the changes and ranges for the US debt curve (from 2-30 years).  The 2-10 spread is 1.53 bps currently, down from 4.32 bps at the close yesterday. The thing about today’s move is the yields are higher across the board with the shorter end up more due to the taking out more of the 50 BP cut idea.
US yields are higher with a flatter yield curve.

US stock indices go out near the lows for the day

  
Analysis, US Market
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  • The S&P index fell -23.11 points or 0.79% at 2900.53
  • The NASDAQ index fell -54.25 points or -0.68% at 7948.56
  • The Dow industrial average fell -173.35 points or -0.66% at 25962.42
Selling into the closeThe major indices open lower but did recover midday and traded marginally higher before reversing and moving back down.
The European indices were higher earlier in the day, but gave up those gains and also ended near low levels.
Winners on the day included:
  • Beyond Meat, +6.55%
  • Home Depot, +4.45%
  • LYFT, +3.81%
  • Qualcomm, +1.60%
  • Twitter, +1.44%
  • Broadcom, +0.57%
  • Square, +0.48%
  • Intuitive Surgical, +0.47%

Losers included:

  • Netflix, -3.36%
  • AMD, -2.41%
  • American Express, -2.38%
  • Bank of America, -2.02%
  • UnitedHealth, -1.90%
  • Micron, -1.73%
  • Nvidia, -1.70%
  • PNC financial, -1.68%
  • General Mills, -1.65%
  • Pfizer, -1.59%
  • Coca-Cola, -1.5%
  • IBM, -1.44%
  • Alphabet, -1.41%
  • Facebook, -1.39%

US stock closes higher, but off the higher extreme

  
Analysis, US Market
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Nasdaq leads the indices on the day. Dow lags

The major US stock indices are ending the session with solid gains but off the session highs. The indices opened higher and remained higher on the back of the Trump administration talking up the economy and more Fed criticism (and calls for sharply lower rates ….i.e. Pres. Trump wants 100 bps lower).  The Trump Administration also extended its reprieve on penalties for doing business with Huawei which gave a boost to stocks.
The final numbers are showing:
  • The S&P index up 34.97 points or 1.21% at 2923.65. The high reached 2931.00. The low extended to 2913.48.
  • The Nasdaq index is closing up 106.81 points or 1.35% at 8002. 81. The high reached 8026.75. The low reached 7974.25
  • The Dow is closing up 249.78 points or 0.96% at 26135.79. The high reached 26222.32. The low reached 26020.06.

Wall Street ends higher as tech and oil stocks rally

  
Analysis, US Market
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Technology stocks led the advance for the broader US market as investors kept an eye on the strained geopolitics of the Gulf.

The S&P 500 finished 0.3 per cent higher on Monday, with an afternoon rally at one point putting up as much as 0.5 per cent. That also saw the Dow Jones Industrial Average turn positive and close fractionally higher, but it was tech names that led the way, with the Nasdaq Composite rising 0.7 per cent.

Brent crude, the international oil marker, was up 1.5 per cent to $63.43 a barrel, although that left it off earlier highs that took it up as much as 2 per cent after Iran seized a British-flagged tanker in the Gulf on Friday. Furthermore, Libyan output was interrupted after an unidentified group sabotaged production at the country’s largest field, according to its state oil company.

The S&P 500 energy sector was up 0.5 per cent, lagging only tech, as major producers including ExxonMobil, Chevron and ConocoPhillips turned positive during the afternoon session. Halliburton topped the leaderboard with a 9.2 per cent advance following an earnings beat.

European energy stocks fared better earlier on Monday, with a gain of 0.5 per cent for the Stoxx index tracking the sector standing out against a 0.1 per cent rise for the Europe-wide Stoxx 600. London’s FTSE 100 rose 0.1 per cent and Frankfurt’s Xetra Dax 30 was up 0.2 per cent. BP was among the top performers on the main UK index, with the oil major’s shares rising 1 per cent.

Bets that the Fed will aggressively cut rates at its policy meeting this month were being pared back. Bloomberg data showed that under 20 per cent of economists polled were forecasting a 50 basis point cut, down from about 40 per cent late last week. That followed confusion on Friday after the New York Fed clarified that an ultra-dovish speech from John Williams, its president, should not be seen as a guide to future policy.

Investor caution towards geopolitical issues in the Gulf, as well as debate over the prospect for monetary easing from the Federal Reserve, on Friday pushed gold to a six-year high. On Monday afternoon the metal was flat at $1,424.49 an ounce.

US stocks edge up to new records as investors eye earnings season

  
Analysis, US Market
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Wall Street notched fresh record highs in cautious trading on Monday as investors awaited the first onslaught of quarterly earnings reports.

The S&P 500 bounced off session lows seen in afternoon trading to gain about half a point at 3,014.30. The Dow Jones Industrial Average ticked 0.1 per cent higher, and the Nasdaq Composite rose 0.2 per cent.

The modest rally extended a record run on Wall Street that was fuelled last week by expectations for looser monetary policy at the Federal Reserve. The benchmark S&P 500 secured its third closing high in as many sessions, while the Dow and tech-heavy Nasdaq set records for a second consecutive day.

Citigroup offered the opening salvo in a busy week of bank earnings. Goldman Sachs, JPMorgan Chase and Wells Fargo will file on Tuesday. Bank of America’s financials will arrive a day later.

Citi’s shares fell 0.1 per cent, paring a gain of 1.5 per cent made last week in the run-up to its numbers.

A number of further corporate reports due throughout the week will start to reveal if the US is on course for its first earnings recession since 2016, playing into investors’ perceptions of the outlook for the economy as the Trump administration’s trade dispute with Beijing continues.

Growth data from China published on Monday showed the country’s rate of quarterly expansion was its slowest in 27 years at 6.2 per cent, but there was relief that the tariff battle between the world’s two biggest economies had not taken a deeper toll on the data.

Early gains on Wall Street helped European bourses consolidate gains after an uncertain showing in the region. The international Stoxx 600 rose 0.2 per cent.

Frankfurt’s Xetra 30 was up 0.5 per cent. London’s FTSE 100 rose 0.2 per cent, with its gains underpinned by miners.

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

  
Analysis, US Market
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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

Nasdaq closes at record highs. S&P trades above 3000 for first time, but backs off.

  
Analysis, US Market
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Major indices all closing higher

The major indices in the US are closing higher with the Nasdaq closing at a new record high. The S&P index traded above the 3000 level for the first time ever, but backed off that level. It is still closing higher on the day. The Dow snapped a 3 day losing streak today.
The final numbers are showing:
  • The S&P index, +13.44 points or 0.45% at 2993.07. The high reached 3002.98. The low extended to 2984.61
  • The Nasdaq rose 60.80 points or 0.75% at 8202.53. The high reached 8228.598. The low extended to 8160.56
  • The Dow rose 76 points or 0.29% at 26860.20. The high reached 26983.45 The low extended to 26813.11.
Some winners today:
  • Tesla, +3.85%
  • Micron, +3.75%
  • Beyond Meat, +3.61%
  • General Mills, +2.27%
  • AMD, +1.93%
  • Facebook, +1.77%
  • Nvidia, +1.75%
  • Chevron, +1.69%
  • Pfizer,+1.57%
  • Intuit, +1.53%
  • Alphabet, +1.48%
  • Amazon, +1.46%
  • Exxon Mobil,+1.43%
  • Cisco, +1.40%
  • Disney, +1.34%
  • Microsoft, +1.02%
 Some losers today included:
  • QUALCOMM, -2.86%
  • Target, -2.22%
  • Daimler, -1.57%
  • Deere and Company, -1.56%
  • Charles Schwab, -1.56%
  • Wells Fargo, -1.44%
  • Slack, -1.28%
  • Caterpillar, -1.22%
  • Bank of America, -1.16%
  • Morgan Stanley, -1.10%
  • Goldman Sachs, – 0.87%
  • Citigroup, -0.61%
  • PNC financial, -0.58%
  • Home Depot, -0.58%
  • Twitter, -0.52%
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