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Major indices close higher but late selling sends indices lower on Baghdad bomb chatter

  
Analysis, US Market
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Nasdaq closes at a record

The major US indices are closing higher on the day. However some late day selling on Baghdad bomb chatter helped to push the indices off highs into the close.
Nevertheless the NASDAQ index is closing at a record level.
The final numbers are showing:
  • S&P index up 15.88 points or 0.49% at 3253.06. The high price reached 3267.07. The low extended to 3236.67
  • NASDAQ index rose 60.66 points or 0.67% at 9129.24. The high price reached 9168.88. The low extended to 9059.38
  • Dow rose 161.45 points or 0.56% at 28745.20. The high price reached 28866.18. The low extended to 28522.51.

Day 1 of 2020 and record closes for the major indices, and at session highs too.

  
Analysis, US Market
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NASDAQ index leads the way with a gain over 1.33%

It is day one of 2020 and the major indices are all closing at record levels. The NASDAQ index is leading the way with a gain over 1%.
The final numbers are showing:
  • S&P index rose 27.21 points or 0.84% to 3257.98. The high price was at 3258.14. The low extended to 3235.53
  • NASDAQ index rose 119.58 points or 1.33% to 9092.18. The high reached 9093.43. The low extended to 9010.89
  • Dow industrial average rose 331.51 points or 1.16% to 28869.95. The high reached 28872.80. The low extended to 28627.77
It is only one day, but the markets are starting off with a flourish in 2020.  Apple reached $300.00 and is closing above the $300 level for the first time ever (closing at $300.35).   For the day Apple rose $6.70 or 2.28%.
Other big gainers among the big names include:
  • AMD, +7.06%
  • Tencent, +3.77%
  • Alibaba, +3.61%
  • Northrop Grumman rose 3.39%
  • micron, +3.03%
  • Tesla, +2.87%
  • Amazon rose 2.72%
  • Salesforce rose 2.69%
  • Disney rose to 2.43%
  • PayPal rose 2.39%
  • Apple rose 2.28%
  • Facebook rose 2.21%
  • Alphabet rose 2.19%

Laggards include:

  • General Mills, -2.67%
  • Target, -1.68%
  • Bristol-Myers Squibb, -1.23%
  • Procter & Gamble, -1.15%
  • Costco, -0.83%
  • Papa John’s, -0.46%
  • Coca-Cola, -0.63%
  • Wells Fargo, -0.04%

S&P, Nasdaq have best year since 2013

  
Analysis, Global Indices, US Market
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Nasdaq up over 35% on year

The US stock market is closed for the year, and oh what a year it was.
The S&P index and the NASDAQ index both had their best years since 2013. The NASDAQ index led the way for the year with a gain of 35.23%. The S&P index rose by 28.87%. The Dow industrial average was limited with a 22.33% gain. Boeing weighed on that index in 2019.
For the day, the major indices are closing near highs:
  • S&P index rose 9.41 points or 0.29% to 3230.70
  • NASDAQ index rose 26.611 points or 0.30% to 8972.60
  • Dow rose 76.1 points or 0.27% to 28538.24
Globally for the year, the Nasdaq index was the largest gainer (+35.23%) followed by the S&P index (+28.88%) and Italy’s FTSE MIB (up 28.28%).  The Shanghai composite index had a impressive 22.1% return.  France’s Cac and Germany’s DAX rose 26.37% and 25.48% respectively.
The worst performing index was the Portuguese PSI20 at 10.20% and Spain’s Ibex at 11.82%.  The UK FTSE, with all the upheaval and uncertainty from Brexit and the political upheaval, had a limited (relatively) gain of 12.10%.
The YTD returns were impressive in 2019

S&P and Nasdaq close at record levels.

  
Analysis, US Market
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New all time highs in the S&P and Nasdaq too

The S&P and NASDAQ indices are closing at record levels. They also moved to all time record highs intraday.
The final numbers are showing:
  • S&P index, +26.91 points or 0.86% to 3168.55. The new all time intraday high price reached 3176.28
  • NASDAQ index up 63.265 points or 0.73% to 8717.314. The new intraday all-time high price reached 8745.82
  • Dow up 220.62 points or 0.79% to 28131.92

Some winners on the day include:

  • AMD, +7.98%
  • Deutsche Bank, +4.26%
  • FedEx , +3.7%
  • Micron, +3.47%
  • Nvidia, +3.13%
  • Bank of America, +3.09%
  • Cisco, +3.07%
  • Charles Schwab, +2.98%
  • J.P. Morgan, +2.85%
  • PNC financial, +2.54%
  • Bristol-Myers Squibb, +2.48%
Some losers include:
  • Box, -2.82%
  • Facebook, -2.73%. There was an article in the Wall Street Journal saying that the FTC is looking for an injunction on how Facebook apps interact
  • Boeing, -3.66%
  • LYFT, -1.73%
  • Chipotle, -1.4%
  • Philip Morris, -1.13%
  • Twitter, -0.85%
  • Papa John’s, -0.62%
  • Lockheed Martin, -0.5%
  • Gilead, -0.21%

US stocks close the session higher. Record close for the S&P

  
Analysis, US Market
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New record close for the S&P

The US stocks are closing the session higher after the FOMC cut rates by 25 basis points and Fed chair Powell said that rates would not go higher unless inflation goes higher.
  • The S&P index rose 9.88 points or 0.33% at 3046.77
  • The Nasdaq rose 27.125 points or 0.33% at 8303.97
  • The Dow rose 115.27 points or 0.43% at 27186.69.
In after hours, Facebook beat on the revenues and earnings-per-share
  • EPS $2.12 versus $1.91 expected
  • Revenues $17.65 billion versus an estimate $17.35 billion

Facebook shares are up 2.3% in volatile trading after the close.

US stocks end the session lower and near session lows

  
Analysis, US Market
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S&P index back below the 3000 level. NASDAQ loses -0.72%

The major stock indices slid in the afternoon trading after being higher earlier in the day. The major indices are ending the session in the red, led by the NASDAQ composite index which fell -0.72%
The closes are showing:
  • the S&P index -10.65 points or -0.35% at 2996.07. The high reached 3014.57, while the low extended to 2995.04
  • the NASDAQ composite index fell 58.69 points or -0.72% at 8104.29. The high extended up 28194.62 while the low reached 8101.98
  • The Dow industrial average is closing down -39.27 points or -0.15% at 26788.32.  The high reached 26946.64.  The low extended to 26782.61

After today’s close Chipotle, snap, Texas Instruments, and Whirlpool will be releasing their earnings.

Tomorrow will be 1 of the bigger earnings day’s so far with Microsoft, Boeing, Caterpillar and others expected to release:

Wednesday, October 23

  • Boeing, BA
  • Blackstone Group, BX
  • General Dynamics, GD
  • Owens Corning, OC
  • Ford, F
  • Caterpillar, CAT
  • Celgene, CELG
  • Microsoft, MSFT
  • eBay, EBAY
  • PayPal holdings, PYPL
  • Tesla, TSLA

US stocks end near the lows but give up gains

  
Analysis, US Market
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Early declines still holding the lows

The US stocks are ending the day near, but above) the day’s lows (from earlier in the day) but they gave up gains in the processs in what was an up and down day.
The final numbers are showing:
  • The S&P index fell -13.22 points or -0.45% at 2938.79. The high reached 2959.75. The low extended to 2935.68
  • The NASDAQ index fell -26.181 points or -0.33% at 7956.29. The high reached 8013.316. The low extended to 7942.08
  • The down industrial average fell -95.70 points or -0.36% at 26478. The high reached 26655.84. The low extended to 26424.54

The NASDAQ index closed below its 100 day moving average at 7967.39. The index close back above that MA on Friday. Failure to keep the momentum to the upside going is a disappointment for the bulls.

The S&P index remains above its 100 day moving average at 2928.07, but is closing below its 50 day moving average at 2940.64

Pres. Trump sounds off….

  
  Analysis
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…Stocks are not liking the optics of it all

Pres. Trump is sounding off as he defends himself in the way he knows how. Below are a sampling of the recent tweets:
...Stocks are not liking the optics of it all
He is also on the wires saying:
  • He thinks the whistleblower should be protected if he is a legitimate whistleblower
But adds:
  • Person who provided whistleblower information is a spy
What does it have to do with the market?
Stocks continue to suffer, as things are seemingly more and more in disarray.
The S&P is currently down 56 points or -1.9% at 2884.30. The NASDAQ is down 142 points or -1.8% at 7766.  Both are near lows for the day.

S&P index

Gold prices remain elevated at plus $21.50 or 1.45% at $1500.50.
The USD is mixed
  • The USDJPY is seeing the safe haven flows and trades near lows for the day
  • The USDCHF, which was up near 90 pips earlier after weaker CPI inflation, has moved back to mid range.
  • The EURUSD moved to new highs on some dollar selling
  • The GBPUSD has also recovered (dollar selling) after being lower on Brexit concerns earlier.

US major indices ending near session lows

  
Analysis, US Market
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Not a good day for the major stock indices

The major US stock indices were spooked by weaker than expected ISM manufacturing data . Shortly after the data came out, the major indices turned from being up to being down.

The momentum continued through the day.
The final numbers are showing:
  • S&P index, -36.56 points or -1.23% in 2940.18. That is just off the session low at 2938.70. The pair fell below its 50 day moving average today which had been holding support for most of September. That MA comes in at 2948 area.  Stay below going forward keeps the bears in control.  The 100 day MA is down at 2925.50 currently.  A move below that level increases the bearish bias for the pair
  • NASDAQ index, -90.654 points or -1.3% at 7908.68. The low for the day reach 7906.293. For the Nasdaq index, it tumbled below its 100 day moving average at 7963.81 today.  The next major target would be its 200 day moving average. However that is still a bit away at 7704.411.
  • Dow fell -343.79 points of -1.28% at 26573.04.. The low for the index reached 26562.22.
Selling with broad-based today with all the major sectors moving lower.
Some of the major losers today included:
  • Charles Schwab, -9.73%. They lowered commissions $0 on trades
  • DuPont, -4.73%
  • Schlumberger, -4.36%
  • 3M, -3.67%
  • General Motors, -3.66%
  • Slack, -3.46%
  • Cisco, -3.36%
  • Caterpillar, -3.14%
  • Morgan Stanley, -3.05%
  • Ford motors, -2.84%
  • Wells Fargo, -2.76%
  • Fed ex, -2.72%
  • McDonald’s, -2.64%
  • Bank of America, -2.50%
  • Exxon Mobil, -2.37%
  • Twitter, -2.33%
  • Goldman Sachs, -2.20%
Some winners on the day included
  • Phillip Morris, +2.52%
  • Tesla, +1.59%
  • Visa, +1.34%
  • Box, Inc, +1.15%
  • Wynn resorts, +1.11%
  • Netflix, +0.73%
  • Papa John’s +0.42%
  • Coca-Cola, +0.37%
  • Apple, +0.25%
  • Pepsi, +0.20%

Overnight :Not a good day on Wall Street as major indices react to potential impeachment proceedings

  
Analysis, US Market
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Nasdaq stocks lead the charge lower

The US major industries are closing lower on the day led by the NASDAQ stocks. Some major stocks like Netflix and Amazon fell sharply.  Today Netflix’s most bullish analyst slashed his price target for the stock from $515-$350. The stock was as high as $380 in July. For Amazon it fell below its 200 day moving average today.
The closing numbers for the major indices are showing:
  • S&P index, -25.18 points or -0.84% at 2966.60
  • NASDAQ index fell -118.83 points or -1.46% at 7993.62
  • Dow fell -142.22 point surmise 0.53 present at 26807.73
Although the indices were off the lows for the day (see % chante ranges for the major indices in North America and Europe below), they are ending nearer the lows for the day.
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