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US stocks close session with mixed results

  
Analysis, US Market
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Dow Jones, S&P give up gains and close in the red. NASDAQ closed mostly higher

The US stock market lost steam into the close with Dow industrial average and the S&P 500 closing in the red and giving up earlier gains. The NASDAQ index squeaked out a small gain on the day.

The final numbers are showing:
  • Dow industrial average -97.11 points or -0.28% at 34838.36
  • S&P index -8.11 points or -0.18% at 4387.15
  • NASDAQ index rose 8.39 points or 0.06% at 14681.07
  • Russell 2000 index fell -10.75 points or -0.48% at 2215.50
As the day went by, lower yields on the back of expectations of slower growth due to the Covid Delta variant, started to weigh on the major indices.  The Dow industrial average was up as much as 256.64 points. The S&P index was up as much as 25.64 points and the NASDAQ index is up as much as 97.7 points before reversing back to the downside and closing near the lows for the day.

The Dow industrial average closes at another record high

  
Analysis, US Market
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NASDAQ snaps four days losing streak.

The US stocks rallied into the close with the Dow ending the session at a new record and at the highs of the day. The index is closing up 315.76 points for the fourth higher close in as many days. The NASDAQ index is also closing higher for the first time in five trading days.
A snapshot of the final numbers are showing:
  • Dow industrial average rose 318.19 points or 0.93% at 34548.53. The high reached 34561.29
  • S&P index rose 33.51 points or 0.8% at 4201.10. The high reached 4202.80
  • Nasdaq index closed up 50.42 points or 0.37% at 13632.84. The high reached 13635.74
The Russell index eked out a tiny gain by closing up 0.05 points or 0.002% at 2241.42.
At the lows:
  • Dow was down -45.28 points or -0.13%
  • S&P was down -20.09 points or -0.48%
  • Nasdaq was down -143.03 points or -1.05%
  • Russell 2000 index traded down -42.37 points or -1.89%
The major indices snatch victory from the jaws of defeat today.  Tomorrow the nonfarm payroll report (and other employment statistics) will be released at 8:30 AM ET.

NASDAQ snaps four days losing streak.

S&P and Dow close at record levels again

  
Analysis, US Market
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Nasdaq 1.9% from the all time high

The major indices are all closing higher and near highs for the day/week. The S&P and Dow industrial average both closed at record highs. The NASDAQ index is just under 2% away from the all time high.

The major indices also closed higher for the week with the NASDAQ index leading the charge at up 3.12%.
The final numbers are showing:
  • S&P index +31.58 points or 0.77% at 4128.75. The high reached 4129.48 which is the all time high for the pair.
  • Nasdaq +70.878 points or 0.51% at 13900.18. The all-time high price is at 14175.12. The index is 275 points from the all time high putting the index about 1.9% from the all time high
  • Dow rose 298.68 points or 0.89% at 33801.25. That was just off the high for the week at 33810.87 (which is also the all time high).
For the week, the Nasdaq led. The Dow lagged but was still higher. The Russell 2000 index of small cap stocks fell -0.56%.  The Nasdaq was up 3.12%.
Helping in the US was lower /steady rates despite the rise in rates today. Below are the changes for the week.  The largest decline was in the 5 year sector with a decline of 11.59 basis points. The 10 year is down -6.49 basis points (rates are up about 4 bps today).  Next week the US treasury will be auctioning of reopened 3, 10 and 30 year issues.

Dow and S&P close at record highs

  
Analysis, US Market
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Nasdaq still 3.3% from the all time high

The Dow and S&P both closed at record highs. The Nasdaq index rose sharply today, but still trades around 3.3% from the all time high reached on February 16.
For the day:
  • S&P index rose 57.91 points or 1.44% at 4077.78.  At the highs the S&P was up 1.59%. The low was +0.69%..
  • NASDAQ index rose 225.48 points or 1.67% at 13705.59. At the highs the NASDAQ index is up 1.78%. The low was +0.76%.
  • Dow industrial average rose 372.27 points or 1.12% at 33525.48. At the highs the Dow industrial average was up 1.4%. The low was +0.21%
  • The Russell index rose for its 4th straight day. The index closed up 10.98 points or 0.49% at 2264.89. The high took the price up 1.13%. The low was at -0.20%.

Leading the Dow 30 was

  • Walgreens boots, +3.73%
  • Intel, +3.1%
  • Walmart, +2.8%
  • Microsoft, +2.76%
  • Boeing, +2.55%
  • Home Depot, +2.48%
  • Apple, +2.36%

Some other big gainers today included:

  • GM, +5.61%
  • Roblox, +5.22%
  • LivePerson, +4.75%
  • Ford, +4.44%
  • Tesla, +4.36%
  • Rackspace, +4.16%
  • Alphabet, +4.12%
  • Whirlpool, +3.74%
  • Facebook, +3.43%
  • Corning, +3.39%
  • Delta Airlines, +2.91%
  • Dollar Tree, +2.87%
  • Microsoft, +2.79%
soma losers today included
  • Novavox, -4.59%
  • ViacomCBS, -3.97%
  • FirstSolar, -3.61%
  • Gamestop, -2.85%
  • Chewy, -2.16%
  • Schlumberger, -1.96%
  • Snowflake, -1.85%
  • Goldman, -1.27%
  • BedBath and Beyond, -1.0%
  • Nio, -0.86%
  • AirBnB, -0.83%
  • FedEx -0.7%
  • Citigroup, -0.55%

US stocks end mixed as rotation trade reverses today

  
Analysis, US Market
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Nasdaq higher. S&P and Dow lower.

The rotation out of the Nasdaq and into the S&P and Dow was reversed today. The Nasdaq is the big winner. The Dow is the big loser and the S&P is in between those two indices.
  • Russell 2000 has its worst week since January
  • NASDAQ has its 4th weekly loss in 5 weeks
  • Dow post 2 day losing streak Dow, S&P, NASDAQ all down on the week

The final numbers area showing:

  • Dow industrial average -234.33 points or -0.71% at 32627.97
  • S&P index -2.36 points or -0.06% at 3913.10
  • NASDAQ index up 99.066 points or 0.76% at 13215.23
  • Russell 2000 rose 19.95 points or 0.88% at 2287.53
For the week:
  • Dow industrial average fell -0.46%
  • S&P index fell -0.79%
  • NASDAQ index fell -0.77%

US stocks close higher across the board. Nasdaq leads the way.

  
Analysis, US Market
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Some selling into the close.

The US stocks are closing higher on the day with the Nasdaq leading the move higher.  The Dow, which has been the leader in the short term, has closed higher but lagged today.
  • Nasdaq has the best November. Closes 8% below record high
  • Dow closes 1% from all time high
  • S&P closed less than 2% from the all time high
  • Dow posts 3-day win streak
The final numbers are showing:
  • The S&P is closing up 54.10 points or 1.42% at 3875.46
  • The Nasdaq is closing up 464.66 points or 3.69% at 13073.82. The high reached 4.30%
  • The Dow rose +30.30 points or 0.10% at 31832.74. The high reached 347 points or 1.09% at the highs

Overnight US Market : The stock rotation continues out of high-tech and into cyclicals

  
Analysis, US Market
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Higher yields remain the catalyst

The longs in the technology stocks continue to get hammered and the rotation into the cyclical continues as fears of interest rates have traders repricing the high flyers of 2020.

The final numbers are showing:
  • S&P index -20.72 points or -0.54% at 3821.23
  • NASDAQ index -310.98 points or -2.41% at 12609.16
  • Dow industrial average rose 306.21 points or +0.97% at 31802.51
The NASDAQ index closed below its 100 day moving average for the 1st time since October 30.
Some of the oversized decliners today included:
  • Doordash -11.92%
  • Snowflake, -10.74%
  • Chewy, -8.01%
  • Zoom, -7.91%
  • Nio, -7.66%
  • Nvidia, -6.99%
  • Square, -6.74%
  • Broadcom, -6.57%
  • Palantir, -5.91%
  • Tesla, -5.86%
On the positive side, some of the Reddit meme stocks were in the big gainers:
  • Express, +62.6%
  • Gamestop, +40.1%
  • Koss, +26.79%
  • AMC, +15.52%
  • Bed Bath and Beyond, +10.32%
Airlines also rose sharply:
  • United airlines, +7.03%
  • Southwest Airlines, +6.41%
  • American Airlines, +4.94%
  • Delta Air Lines, +3.61%
Big cap high flying names of 2020 had a tough time of it today as well:
  • Facebook -3.35%
  • Amazon -1.58%
  • Apple, -4.13%
  • Netflix, -4.48%
  • Microsoft -1.79%
  • Alphabet -4.3%
Other winners included:
  • Walt Disney, +6.27%
  • Whirlpool, +3.46%
  • Ford, +3.10%
  • MasterCard, +2.9%
  • Citigroup, +2.82%
  • Cisco Systems, +2.79%
  • Exxon, +2.39%
  • General Motors, +2.29%
  • Home Depot, +2.16%

4 down days in a row for the S&P index. Longest losing streak this year

  
Analysis, US Market
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NASDAQ index and Dow industrial average close marginally higher. Russell index surges

The S&P index closed lower for the 4th consecutive day. That is the longest losing streak for the year

  • S&P and NASDAQ post the 1st weekly loss in the 3 weeks
  • NASDAQ and Dow industrial average have modest gains on the day
  • Dow’s 3rd straight weekly gain
  • Russell 2000 index surges by 2.18%
  • For the week, the Dow industrial average is the only gainer
a snapshot of the final numbers shows:
  • S&P index -7.23 points or -0.18% at 3906.74. The high price reached 3930.41. The low price extended to 3903.07
  • NASDAQ index rose 9.11 points or 0.07% at 13874.46. The high price reached 13985.58. The low price extended to 13842.60
  • Dow industrial average rose 0.98% or less than 0.00% on the day at 31494.32. The high price reached 31647.53. The low extended to 31469.34
  • Russell 2000 rose by 48.3 points or 2.18% at 2266.69. The high price reached to 2275.87. The low price extended to 2218.81
For the trading week:
  • Dow industrial average gained 0.2%
  • S&P index fell -0.25%
  • NASDAQ index fell -1.08%
  • Russell 2000 fell -0.99%
Year-to-date:
  • Dow industrial average, +2.9%
  • S&P index, +4.01%
  • NASDAQ index, +7.65%
  • Russell 2000, +14.6%
For the last 12 months:
  • Dow, +7.31%
  • S&P index +15.37%
  • Nasdaq index +41.33%
  • Russell 2000, +33.75%

US Indices close the day with modest gains in down and up session.

  
Analysis, US Market
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Major indices rebounds off the lows into the close

The major indices opened modestly higher, moved lower into the midday, and rallied back higher into the close before finding some selling at the bell.   The Nasdaq led the way higher with a gain of 0.28%. The Dow was not far behind with a gain of 0.19%
The final numbers are showing:
  • S&P index rose 1.58 points or 0.04% at 3801.19. The high price reached 3810.78. The low price extended to 3776.51
  • NASDAQ index rose 36 points or 0.28% at 13072.43.  The high price reached 13105.03. The low extended to 12963.91
  • Dow closed up 60 points or 0.19% at 31068.69.  The high price reached 31114.56. The low extended to 30888.76
  • The Russell 2000 mid-cap stocks also close higher with solid gain of 1.63%. The index closed at its highs for the day.

Some of the bigger winners today included:

  • Doordash, +14.96%
  • AirBNB, +8.55%
  • Chewy, +7.3%
  • Uber, +7.25%
  • Corsair, +7.09%
  • General Motors, +6.24%
  • Zoom, +5.65%
  • Ford, +5.11%
  • Lyft, +4.78%
  • Tesla, +4.73%
  • Schlumberger, +4.64%
  • Rite Aid, +3.94%
  • Lam research, +3.86%
  • Goodrx, +3.5%
  • Beyond Meat, +3.3%
  • Intel, +3.28%
  • United Airlines +3.26%
  • Goldman Sachs, +2.79%
Losers today included:
  • Western Digital, -3.28%
  • Intuitive Surgical, -3.12%
  • Boston Scientific, -3.10%
  • Comcast -2.93%
  • Twitter, -2.37%
  • Facebook, -2.32%
  • Merck at -2.27%
  • General Mills, -2.16%
  • AMD, -1.94%
  • Visa, -1.93%
  • Intuit, -1.87%
  • Disney, -1.73%
  • Pfizer, -1.59%
  • Box, -1.57%
  • Morris -1.54%
  • MasterCard, -1.52%
  • Black Knight -1.38%
  • Nike -1.35%
  • McDonald’s -1.23%
  • Nio, -1.21%

Disney boosts Dow into positive territory. The NASDAQ and S&P close lower

  
Analysis, US Market
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Major indices decline for the week

The shares of Disney rose by over 13% and boosted the Dow up by over hundred points alone. That was enough to lift the Dow to a near 50 point gain on the day. However, all the major indices had declines for the week with the S&P leading the way to the downside.

  • S&P posts 3 day losing streak
  • Dow industrial average closes higher for the 1st time in 3 days
  • Russell 2000 has its 6 straight weekly gain as money flows from high cap,to low cap stocks
the final numbers are showing:
  • S&P index fell -4.65 points or -0.13% to 3663.46
  • NASDAQ index fell -27.938 points or -0.23% to 12377.82
  • Dow industrial average rose 46.95 points or 0.16% to 30046.23
for the week:
  • S&P index fell -0.96%
  • NASDAQ index fell -0.69%
  • Dow industrial average fell -0.57%
  • The Russell 2000 gain 0.96% after falling -0.63% today
Some winners today included
  • Disney, +13.59%
  • Goodrx, +9.51%
  • chewy, +9.03%
  • Rackspace, +3.84%
  • Lockheed Martin, +1.78%
  • Microsoft, +1.32%
  • Emerson, +1.3%,
  • Honeywell, +1.25%
Some losers today included:
  • Qualcomm, -7.37%
  • Nio -7.19%
  • Doordash, -6.0%
  • Snowflake, -5.34%
  • American Airlines, -5.17%
  • Corsair, -4.65%
  • Corning, -4.15%
  • Airbnb, -3.93%
Although Doordash and Airbnb make the list of some of the big losers today, their IPOs this week were nothing short of spectacular.
Doordash was priced at $102 and is ending the week at $178.84, while Airbnb was priced at $68 a share and is closing at $139.03.
With all the IPOs being smash before the end of the year, Wall Street is reaping huge rewards. There is no recession there. Meanwhile, there is still no progress on Covid relief today.
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