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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%

S&P closes higher. That means it is another record close.

  
Analysis, US Market
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Major indices rise modestly on the day in up and down session

The S&P is closing higher. Since yesterday was a record high, that means today is a record as well (that analysis is pretty simple).
The Nasdaq remains below it’s record close at 8163.99.  The high today reached 8109.36 – near the closing level for the day.

The final numbers are showing:

  • The S&P index rose 8.68 points or 0.29% at $1413.56
  • The Nasdaq index rose 17.931 points or 0.22% at 8109.09
  • The Dow rose by 69.25 points or 0.26% at 26786.68
Looking at the % changes and % high/low levels, the major US stock are all closing at/near the highs for the day.   European shares (apart from the Portugal PSI20) closed higher as well.
Some winners today:
  • Verizon, +2.61%
  • Cisco, +1.95%
  • McDonald’s, +1.53%
  • Gilead, +1.49%
  • MasterCard, +1.41%
  • Delta Airlines, +1.33%
  • alphabetic, +1.15%
  • Facebook, +1.04%
  • Pfizer, +1.03%
  • Intuit,, 0.81%
  • visa, +0.78%
  • Microsoft, +0.66%
  • Walt Disney, +0.64%
  • Amazon, +0.63%
  • Apple, +0.59%
Some losers on the day include:
  • Nvidia, -2.37%
  • Beyond Meat, -1.88%
  • Chewy, -1.87%
  • Broadcom, -1.67%
  • Chevron, -1.52%
  • Charles Schwab, -1.42%
  • Dow DuPont, -1.31%
  • micron, -1.27%
  • Tesla, -1.15%
  • Exxon Mobil, -1.06%
  • Wells Fargo, -0.96%
  • Bank of America, -0.95%
  • Box, -0.91%
  • QUALCOMM, -0.66%
  • Boeing, -0.62%

 

Visualizing The Cost Of Living Around The World

  
Analysis, Education
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Imagine that users submitted hundreds of thousands of prices for everyday items, and that they all got compiled into a massive database. Then, suppose a worldwide index of prices was created that compared the cost of living across different places by using these many data points.

Well, that’s already happened at Numbeo which is the world’s largest database of user contributed data about cities and countries.

This infographic uses this information to show the most expensive and cheapest places to live by country. While it is missing some of the granularity of looking closer at individual regions and cities, it does do a good job of showing a broad perspective on living costs.

Switzerland and Norway may not surprise you as two of the most expensive countries. However, Venezuela might not have been a place that was on your radar. Of course, in retrospect, when you have inflation spiraling out of control at a rate of 64% per year, that will make things a bit pricey.

Want cheap goods and services? Head over to India, Nepal, and Pakistan. With about 1.5 billion people spread between those three countries, labour is cheap and the cost of living is very low. (more…)

Never Ever Follow The Villager Into Equities

  
  Education
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It’s a moot point: Is the Buffalo leading the Villager or is the Villager Following The Buffalo? The Chinese are contemplating the same.

Nobody has seen the village chief.

Just months ago, his courtyard home at the edge of the orchard was a makeshift trading floor where local farmers gathered to share tips and track the Shanghai Composite. Now, the gates are closed, a security camera stands watch, and nobody wants to talk about the stock-trading local party secretary.

“Out for the whole day,” ventured a neighbor.

“Who?” said another.

“Maybe he flew away in a plane,” joked a third. The country was gripped by stock fever, a frenzy of borrowing and buying that saw Chinese markets soar to historic heights, drawing in tens of millions of first-time investors, including dozens of people in this northern Chinese village.

The rally was bolstered by rah-rah editorials in the state-controlled press. Invoking President Xi Jinping’s vision for a powerful and prosperous China, the People’s Daily called rising stock prices “carriers of the China dream.” When the benchmark index hit 4000 points, an editorial in the same party flagship promised it was “just the beginning” of the bull run.

(more…)

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