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Major indices close lower after late day rally fizzles out

  
Analysis, Global Indices, US Market
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Another big move in the last hour of trading

The major indices are closing lower on the day after the late day rally fizzled out.
Starting the last hour of trading, the major indices were trading at:
  • S&P index 2584.95, down -45.12 points or -1.72%
  • NASDAQ index 7648.96, down -148.57 points or -1.91%
  • Dow 22046.95, down -505.18 points or -2.24%

The closing levels are lower at:

  • S&P index fell -88.62 points or -3.37% to 2541.45
  • NASDAQ index fell -295.15 points or -3.79% to 7502.37
  • Dow fell -915.39 points or -4.06% to 21636.78
Over the last hour of trading, the major indices each traded to new day highs, but quickly sold off and are closing near the session lows (with the NASDAQ just off the day’s lows). In the last hour of trading, the:
  • S&P index went from a high of 2615.91 to a low of 2534.99 or a range of 80.92 points
  • Nasdaq index went from a high of 7716.24 to a low of 7497.02 or a range of 219.2 points
  • Dow went from a high of 22327 to a low of 21602 or a range of 725 points

Another big move in the last hour of tradingAlthough lower for the day for all major indices closed with gains.

Leading the way was the Japan’s Nikkei with a gain of +17.14%. In the US, the biggest gainer was the Dow up by 12.84%. It was helped by a move back higher in Boeing.   Boeing shares went from $97 on Monday to around $180 at the highs. It is closing today around $162.  The gain for the week was at 70.48%

The S&P index rose by 10.26%.  The NASDAQ gained 9.05%.

Other big gainers for the week were:
  • Delta Air Lines +38.36%
  • United Airlines +33.8%
  • Slack +28.3%
  • Home Depot up 25.05%
  • intuitive surgical, +24.41%
  • Nike up 23.51%
  • Nvidia, +22.75%
  • Micron, +20.41%
  • Tesla, +20.36%
  • Broadcom, +20.2%
  • American Express up 19.56%
  • United Technologies up 17.69%
  • United health up 17.04%
  In Europe the biggest gainer was the German DAX which rose 7.88%.

Major indices end the day with solid gains and at the highs

  
Analysis, US Market
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The Dow and S&P rises for the 3rd day in around.

Yesterday both the S&P index and the Dow closed higher for the 2nd day in a row. The NASDAQ did not join them as it fell in trading yesterday. However all 3 indices are closing higher in trading today with solid gains. The indices closed near/at the session highs.

The final numbers are showing:
  • S&P index rose 151.74 points or 6.13% at 2627.30
  • NASDAQ index rose 413.24 points or 5.6% at 7797.53
  • Dow industrial average rose 1351.62 points or 6.38% at 22552.17.
The final hour of trading – which has been very volatile of late – once again saw the major indices rock ‘n’ roll ‘n:
  • S&P index, was at 2594.44 at 3 PM ET. The high in the last hour reached 2637.01. The low reached 2574.92. That is a range of 63 points.
  • NASDAQ index was trading at 7686.41 at 3 PM. The high in the last hour reached 7809.82. The low extended to 7639.95. That is a range of 170 points.
  • Dow industrial average was trading at 22227.47 at 3 PM. The high in the last hour reached 22595. The low reached 21964.24. That is a range of 631 points in the last hour.

The indices are also closing well off there lows for the day (the major indices did not go negative today).  Looking at the % low, % high and % Close, the % lows for the indices reached:

  • S&P index, +1.02%
  • NASDAQ index, +1.06%
  • Dow industrial average, +1.07%
Of the lows from Monday:
  • The Nasdaq is up 17.77%
  • The S&P index is up 20.31%
  • The Dow is up 24.06%
Of course those gains are impressive, but understand the gains are off much lower levels. The major indices are still well off the highs for the year.

US stocks jump in a monster bounce — Dow gains most since 1933

  
Analysis, US Market
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The Fed and Congress inspire an equity rally

Closing changes:
  • S&P 500 +9.4% — biggest since 2008
  • DJIA +11.3%
  • Nasdaq +8.0%
It was a great day to buy stocks as the market bets that Congress will come through with some kind of stimulus. There was also some major bargain hunting and short-covering. The four best performers on the S&P 500 were: L Brands, American Airlines, MGM Resorts, Norwegian Cruise Lines. Energy was the top-performing sector.
Every bottom starts with a bounce but not every bounce is a bottom. That said, bottoms are built on skepticism so my skepticism is only adding fuel to the fire.
The rally today is slightly bigger than the one that led Trump to email out this:
The Fed and Congress inspire an equity rally

US Indicies plunge to end the week but not as bad as some recent days

  
Analysis, US Market
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When you have -10% days, a fall of -4.35% doesn’t sound that bad

The US stocks plunged once again today with the declines led by the Dow.  Although sharply lower, a fall of over 4% does not sound so bad when we’ve endured -10% moves of late.  What we know is the numbers are not pretty today/this week/YTD and over the last year.
A look at the final number for the day are showing:
  • S&P index fell -104.47 points or -4.34% to 2304.92
  • Nasdaq index fell -271.05 points or -3.79% to 6879.52
  • Dow fell -913.21 points or -4.55% to 9173.98
For the week, the numbers were horrible as well:
  • S&P index fell -14.98%
  • NASDAQ index fell -12.64%
  • Dow fell -17.3%
Year to date numbers for the major indices are showing:
  • S&P index, -28.66%
  • Nasdaq index, -23.33%
  • Dow -32.81%

Finally, going back 1 year:

  • S&P index, -18.39%
  • NASDAQ index, -10.99%
  • Dow, -25.53%
No matter how you slice it, the final numbers for the day, the week, the year to date and the year are not pretty….not pretty at all.

A Turnaround Tuesday. Major indices close higher.

  
Analysis, US Market
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6% gains for S&P and Nasdaq.

It is a Turnaround Tuesday for the major US stock indices.

The summary of what was a wild swing day is showing:
  • The S&P index rose 142.88 points or 5.99% to 2529.01. The low reached 2367.04. The high was up at 2553.93
  • The Nasdaq index rose 430.189 points or 6.23% to 7334.78. The low reached 6828.91. The high moved up to 7406.23
  • The Dow rose 1049.27 points or +5.2% to 21237.79. The low reached 19882.26. The high reached 21379.35
In the last hour of trading, their was what has been more typical volatility.  Below is the summary of the changes. Not only did stocks move higher, but the US 10 year yield moved up by 5 basis points.
6% gains for S&P and Nasdaq.
Although off the highs the major US indices are ending the day well off the lows.
Major indices close higher

US stocks go out at the lows. The Dow tumbles 10%

  
Analysis, US Market
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NASDAQ and S&P index fall over 9.4%

The US stocks are going out at the lows and down sharply after the markets were not impressed with the President’s address to the nation and the headlines continue to point to slower growth.  The US sporting events are shutting down. The number of infected and deaths continued to grow in Europe.  A massive liquidity add by the Fed could not help.
The final numbers are showing:
  • S&P index -260.6 points or -9.51% at 2480.78
  • NASDAQ index -750.25 points or -9.43% at 7201.80
  • Dow industrial average -2352.33 points or -9.99% at 21200.85.

The changes in major stock marketsYear to date numbers are showing:

  • Dow, -25.71%
  • S&P, -23.22%
  • Nasdaq, -19.74%
  • Canada S&P/TSX index -26.69%
  • Euro Stoxx 50, -32.04%
  • UK FTSE 100 -30.56%
  • German DAX, -30.85%
  • France’s CAC, -32.35%
  • Japan’s new guy, -21.55%
  • Hong Kong’s Hang Seng -13.77%
  • Australia’s S&P/ASX 200, -20 64%
There is nothing good coming out the stock market.

Year to

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

  
Analysis, US Market
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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.

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Dow closes up over 5% on the day

  
Analysis, US Market
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Major indices close at session highs.

The Dow had the biggest point gain ever, and in the process moved higher by over 5% on the day. The S&P index broke a 7 day decline and rose 4.61%. The NASDAQ index was a laggard with only a 4.5% gain.
The final numbers are showing:
  • The S&P index up 136.27 points or 4.61% at 3090.47. The S&P index closed above its 200 hour moving average at  3048.38. Now the price is above that moving average the next target would be the 100 day moving average at 3168.69
  • The NASDAQ index is ending the day up 384.797 points at 8952.16. That is a gain of of 4.49%. Technically, the price moved above its 100 day moving average at 8828.31. Its 50 day moving average looms ahead at 9245.93.
  • The Dow industrial average is closing up 1293.9 points or 5.09% at 26703.26.  Although the gain was the biggest point gain on record, the index still remains below its 200 day moving average at 27241.99.
Some of the bigger gains include:
  • Tesla, +11.46%
  • Costco, +9.95%
  • Apple, +8.85%
  • Gilead, +8.69%
  • Twitter, +7.92%
  • Walmart, +7.59%
  • UnitedHealth, +7.04%
  • Microsoft, +6.67%
  • Citigroup, +6.56%
  • Travelers, +6.56%
  • Merck, +6.3%
  • Amgen, +6.28%
  • Target, +5.9%
  • Intuit, +5.87%
  • Verizon, +5.82%
  • MasterCard, +5.73%
  • Visa, +5.53%
  • Home Depot, +5.45%

Losers on the day include:

  • Lyft, -3.12%
  • Square, -3.10%
  • First Solar, -1.92%
  • Chewy, -1.83%
  • Deutsche Bank, -1.3%
  • Alcoa, -1.15%
  • Daimler, -1.09%
  • FedEx, -0.75%
  • Chipotle, -0.71%
  • Papa Johns, -0.5%
  • United Airlines, -0.47%

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.

US Major indices down hard again (For us nothing new ………..as expected )

  
Analysis, US Market
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Dow and S&P down over 3%. 4th day of declines in a row

The US stocks are closing down sharply for the 2nd day in a row . The Dow and S&P  have the worst 2 day decline since February 2018. The Dow has plunged more than 1900 points in 2 days.  The Nasdaq index also moved into and closed in the red for the year (below a 8972.60).
The final numbers are showing
  • The S&P index fell 97.68 points or -3.03% at 3128.21. The high reached 3246.99. The low extended to 3118.77
  • The Nasdaq index fell -255.66 points or -2.77% at 8965.61. It’s high reached 9315.25. The low extended to 8940.488
  • The Dow fell 879.44 points or -3.15% at 27081.36. The high reached 28149.20. The low extended to 26997.62.
After the close, Disney announced that is the CEO Bob Iger would be stepping down.  He will be replaced by Bob Chapek effective immediately.
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