rss

Late rally takes some of the sting away from the sharp declines today

Rate cut hopes into the weekend helps erase some of the declines on the day.

A late rally has taken some of the sting away from the sharp decline today in US stocks. The Dow industrial average was down close to 894 points an hour before the close. The index is still down around -250 points but well off those low levels.
The final numbers are showing:
  • The S&P index -51.46 points or -1.7% at 2972.46. The index was down over -4% at its lows. So the late day rally erased a lot of those declines.
  • The NASDAQ index is closing down -1.87% or 162.97 points at 8576.61. The low for the day reached 8375.13. The high reached 8612.359. At the low, the index was down -4.16%
  • The Dow industrial average is closing down -255.69 points or -0.98% at 25865.59. The low price reached 25226.62. The high price extended to 25994.38. At the session low the Dow was down -894 points or -3.43%.
Rate cut hopes into the weekend helps erase some of the declines on the day.

(more…)

Stocks end ugly as weekend coronavirus fears can’t slow the slide

Dow down -600 points/-2.09%

The US stocks end an ugly day near the lows for the day. The Dow industrial average fell by over 600 points/2%. It was the worst day since August 23.  Moreover the Dow ended the month lower for the 1st time in 5 months. For the S&P it had their worst day since October 2 . The Dow ended the month lower for the 1st time in 5 months.  The S&P and NASDAQ had their worst start to the year in 5 years.  You get the picture.

The final numbers are showing:
  • S&P fell -58.14 points or -1.77% to 3225.52
  • Nasdaq fell -148 points or -1.59% to 9150.94
  • Dow fell -603.41 points or -2.09% to 28256.03.
For the month, the Nasdaq did still and positive for the month, but the S&P and Dow closed the month lower.
  • S&P, -0.16%
  • Nasdaq, +1.99%
  • Dow, -0.99%
In Europe today the major indices also closed near session lows. On what happened and Portugal but the PSI 20 did peek out a gain for the day.
Dow down -600 points/-2.09%