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

  
Analysis, US Market
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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.

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

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.

How many different ways can you say “Record close for US indices”?

  
Analysis, US Market
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Major US indices close at records and near highs for the day

How many different ways can you say “Record close for the US indices?”  It is like a broken record.

The final numbers are showing:
  • S&P index +21.64 points or 0.64% at 3379.40
  • NASDAQ index +87.01 points was +0.90% at 9725.96
  • Dow +275.08 points or 0.94% at 29551.42

Some of the oversize winners today include:

  • First solar, +4.86%
  • United health, +4.36%
  • Micron, +3.55%
  • AliBaba, +3.33%
  • Daimler, +3.19%
  • Twitter, +3.18%
  • Walgreen boots, +2.83%
  • Caterpillar, +2.55%
  • Apple, +2.3%
  • United Airlines, +2.10%
  • Qualcomm, +1.93%
Some of the losers today include:
  • Lyft, -10.24%
  • Beyond Meats, -1.99%
  • Phillip Morris, -1.75%
  • Gilead, -1.2%
  • Stryker, -0.93%
  • Pfizer, -0.92%
  • Amgen, -0.83%
  • Tesla, -0.82%
  • Lockheed Martin, -0.78%
  • Procter & Gamble, -0.60%
  • J&J, -0.57%

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%

Dow and S&P have the worst day since October

  
Analysis, US Market
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NASDAQ has its worst day since August.   Fears about coronavirus send major indices lower.

Major indices are ending the session sharply lower. The Dow and S&P had their worst day since October. The NASDAQ index fared even worse with its worst day since August.
The final numbers are showing:
  • S&P index -51.89 points or -1.57% to 3243.57. The high reached 3258.85. The low extended to 3234.50 (early in the session).
  • NASDAQ index fell -175.60 points or -1.89% to 9139.30. The high reached 9185.449. The low extended to 9088.043.
  • Dow industrial average fell -453.93 points or -1.57% to 28535.80.  The high reached 28671.79. The low extended to 28440.47.
Some losers on the day included:
  • United Airlines, -5.26%
  • Schlumberger, -5.06%
  • Broadcom, -4.69%
  • Nvidia, -4.12%
  • Intel, -4.07%
  • Micron, -4.04%
  • Alibaba, -3.78%
  • Intuitive Surgical, -3.65%
  • FedEx -3.65%
  • DuPont, +3.4%
  • Delta airlines -3.38%
  • Caterpillar, -3.35%
  • American Express, -3.32%
  • Disney, -3.05%
  • Apple -2.93%
Winners in a huge down day included:
  • Beyond Meat, +4.43%
  • Chewy, +1.79%
  • target, +1.29%
  • Walmart, +1.28%
  • Gilead, +1.12%
  • Pfizer, +0.8%
  • Procter & Gamble, +0.42%
  • Walgreens Boots, +0.35%
  • Stryker, +0.16%
  • Merck, +0.16%
Whirlpool is reporting and beat of $4.91 versus estimate of $4.27.  Revenues fell short of expectations at 5.38 billion versus 5.52 billion estimate.  Whirlpool shares are trading at $149 per share that’s up $0.77 or 0.52%.

Earnings releases pickup tomorrow with 3M, Starbucks, Apple, Pfizer and Lockheed Martin as some of the key releases.

Other key releases this week include:
  • Wednesday: Tesla, McDonald’s, Microsoft, Boeing, Facebook
  • Thursday: Amazon, UPS, Coca-Cola, Electronic Arts, Biogen
  • Friday: Chevron, Honeywell, Caterpillar, Exxon Mobil, Colgate-Palmolive

Major indices give up early gains on coronavirus fear

  
Analysis, US Market
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Nasdaq snaps 7 week win streak.

The major indices give up early gains on coronavirus concerns and are ending the day lower.  For the week, the NASDAQ index snapped a 7 week winning streak and is ending down on the week. The Dow is in the midst of a four-day losing streak.
The final numbers are showing:
  • The S&P index -30.09 points or -0.90% at 3295.45. The high reached 3333.18. The low extended to 3281.53
  • The Nasdaq index fell -87.568 points or -0.93% at 9314.91. The high reached 9451.43. The low extended to 9273.23
  • The Dow closed down -171 points or -0.58% at 28989.73. The high reached 29288.79. The low extended to 28843.31.
For the week, the major indices all closed in the red:
  • Dow industrial average, -1.05%
  • S&P index, -0.64%
  • NASDAQ index, -0.45%
Apart from the German Dax and the Australia’s S&P/ASX 200, the major global indices end the week negative (see charts below).
Major indices closed mostly lower this week

European shares close lower on China virus concerns

  
Analysis, Global Indices
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German DAX unchanged

The coronavirus concerns have sapped upside momentum from European shares. The falls come despite economic data out of Europe that was not bad.   UK employment data was strong and German/EU ZEW sentiment data was also better-than-expected.

The provisional closes are showing:
  • German DAX, unchanged
  • France’s CAC, -0.54%
  • UK’s FTSE 100, -0.57%
  • Spain’s Ibex, -0.57%
  • Italy’s FTSE MIB, -0.6%
In the European debt market, the benchmark 10 year yields are ending mostly lower with Italian yields up marginally.  France’s 10 year yield move back toward the 0.0% level. The low reached 0.001%.
German DAX unchanged_
In other markets,
  • gold slid earlier to a low price of $1546.41, but has rebounded and currently trades at $1557.19. That’s down about $3.50 or -0.23%
  • WTI crude oil futures are down $0.25 or 0.43% of $58.29
In the US stock market the NASDAQ index turned positive after opening lower and traded to it a new all-time high.
The current prices are showing:
  • S&P index -3.04 points or -0.09% 3326.60
  • NASDAQ index +5.068 points or 0.06% at 9394.20
  • Dow industrial average -41.7 points or -0.14% at 29306.64
In the US debt market yields are lower led by declines in the 10 year yield up -4.6 basis points. The yield curve is also flattened with the 2 – 10 spread falling to 23.74 basis points from 26.23 basis points on Friday..

US Market : Record close for the major indices

  
Analysis, US Market
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Dow toys with extending above 29,000, but stalls just short of the level today

The major US stock indices are closing once again at record highs.  The down industrial average toyed with the idea of breaking the 29,000 level. The index moved above the 28,000 level on November November 15. The high price today reached 29,988.01 before backing off.
The closing levels are showing:
  • S&P index up 21.66 points or 0.67% to 3274.71. That is just off the high price of 3275.58. The low reached 3263.67.
  • NASDAQ index rose 74.184 points or 0.81% to 9203.42. The high price reached 9215.95. The low extended to 9158.504
  • Dow rose 212.08 points or 0.74% to 28957.12. The high reached 28988.01. The low extended to 28844.31.
Some big winners today included:
  • Beyond Meat, +10.84%
  • Chewy, +2.97%
  • Bristol-Myers Squibb, +2.47%
  • AMD, +2.36%
  • Apple, +2.16%
  • Goldman Sachs, +2.05%
  • Starbucks, +1.82%
  • Coca-Cola, +1.79%
  • Alibaba, +1.79%
  • American express, +1.79%
  • Costco, +1.60%
  • Boeing, +1.52%
  • Home Depot, +1.51%
  • Microsoft, +1.22%
  • McDonald’s, +1.21%
Some losers today included:
  • under armor, -3.09%
  • Slack, -2.4%
  • Walgreens boots, -2.08%
  • Tesla, -2.08%
  • AT&T, -1.5%
  • Verizon, -1.47%
  • General Mills, -1.15%
  • Netflix, -1.05%
  • DuPont, -0.91%
  • Lam research -0.78%
  • Broadcom, -0.76%
  • Walt Disney, -0.47%
  • Cisco, -0.42%
  • micron, -0.35%
  • Caterpillar, -0.25%
  • Wells Fargo, -0.17%
  • Southwest Airlines, -0.13%
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