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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

US stocks close mixed in a up and back down session

  
Analysis, US Market
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No new records today..

The US stocks close mixed in a up and down session. The NASDAQ closed higher. The S&P closed near unchanged and the Dow fell.
The final numbers are showing:
  • S&P index closed up 1.02 points or 0.03% at 3321.81. The high reached 3337.77. The low extended to 3320.04
  • Nasdaq index closed up 12.963 points or 0.14% at 9383.77. The high reached 9439.29. The low extended to 9375.129
  • The Dow industrial average fell -9.22 points or -0.03% at 29186.80. The high reached 29320.20. The low extended to 29172.26

Although there were intraday new highs for both the S&P and Nasdaq indices, the gains could not be maintained.

Not a lot of key earnings today, but tomorrow American Airlines, Southwest, Intuitive Surgical and Intel will all report earnings.

US equities close higher again with a strong finish to cap a great week

  
Analysis, US Market
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US equity performance on Friday

  • S&P 500 up 13 points to 3329 or +0.4%
  • DJIA +0.2%
  • Nasdaq +0.3%
On the week:
  • S&P 500 +1.9%
  • DJIA +1.8%
  • Nasdaq +2.3%
The gains have been non-stop in large caps but it hasn’t been quite the same party in small and mid-caps. I’ll be watching the Russell 2000 in the weeks ahead as it approaches resistance.
US equity performance on Friday

Dow record close today. Closes above the 29,000 level.

  
Analysis, US Market
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S&P index and NASDAQ eked out a small gains but off highs

The down industrial average closed above the 29,000 level for the 1st time and close at a record high level. The S&P index also closed at a record level with a modest 6.21 point gain.
The final numbers are showing:
  • S&P index +6.21 points or 0.19% at 3289.36. The high price reached 3298.66. The low extended to 3280.69
  • NASDAQ index closed up 7.366 points or 0.08% at 9258.69. The hi reached 9298.824. The low extended to 9231.137
  • The Dow closed at 29030.83. That was up 91.16 points or 0.31%. The high reached 29127.59. The low extended to 28897.35.

US stocks stumble after hitting record highs

  
Analysis, US Market
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Closing changes for North American trade on January 10, 2020:

Closing changes for North American trade on January 10, 2020:
On the day:
  • S&P 500 down 9 points to 3265 after hitting 3282 (-0.3%)
  • DJIA down 133 points to 28823
  • Nasdaq down 24 points to 9178

On the week:

  • S&P 500 up 0.9%
  • DJIA up 0.7%
  • Nasdaq +1.75%

The turnaround today is a bit of warning signal. Note that January is a weak seasonal month but there is a long-term trend of strength early in the month. I also tend to think the signing of the ‘phase one’ deal is sell-the-fact risk.

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 Major indices close just off session lows

  
Analysis, US Market
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tocks not three-day winning streak

The US major indices are closing just off session lows and in the process have snapped the 3 day winning streak.
The final numbers are showing:
  • S&P index, -9.95 points or -0.32% at 3135.96. The high reached 3148.87. The low extended to 3135.46
  • Nasdaq index closed down -34.7 points or -0.4% at 8621.82. The high reached 8678.85. The low extended to 8619.77
  • The Dow closed down -105.39 points or -0.3% at 27909.67. The high reached 28010.42. The low extended to 27906.14
The ranges of the major stock indices
Some winners today included:
  • US steel, +10.63%
  • Bristol-Myers Squibb, +2.29%
  • Slack, +2.2%
  • Deere & Company, +1.65%
  • Qualcomm, +1.31%
  • Target, +1.13%
  • Papa John’s, +1.12%
  • Home Depot, +1.06%
  • Tesla, +1.05%
  • IBM, +0.53%
  • Visa, +0.43%

Some losers today included:

  • Micron, -3.15%
  • Beyond Meat, -2.85%
  • Rite Aid, -2.29%
  • Intuitive Surgical, -2.10%
  • AMD, -1.77%
  • Alcoa, -1.75%
  • Stryker, -1.73%
  • Netflix, -1.52%
  • AliBaba, -1.58%
  • Apple, -1.39%
  • Goldman Sachs, -1.2%
  • Walt Disney, -1.0%

The major indices end the week with modest gains. Dow and S&P broke 3 day slides

  
Analysis, US Market
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For the week, the major indices moved lower

The major indices are ending the week with modest gains. The Dow and S&P ended a three-day slide.
  • S&P index rose 6.64 points or 0.21% at 3110.18.
  • NASDAQ index rose 13.68 points or 0.16% at 8519.89
  • Dow rose 107.32 points or 0.39% at 27873.68
For the week, the major indices closed lower. The NASDAQ index is closing lower for the 1st time in 7 weeks.  The declines were relatively modest. The numbers are showing:
  • S&P index, -0.33%
  • Nasdaq index, -0.25%
  • Dow, -0.47%
Overall, if this is a down week, it certainly was not a disaster.

Overnight :Nasdaq the sole record maker

  
Analysis, US Market
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S&P and Dow close lower

After a few days where the major indices all closed at record levels, today only the Nasdaq is closing with gains. The Dow led the way to the downside.
Home Depot is weighing on the Dow after revenues and forward guidance disappointed today. The price is down $-13.06 or -5.47%.   Home Depot has the 4th highest component weight in the Dow at 5.78%, hence the big impact.
The final numbers are showing:
  • S&P index fell -1.87 points or -0.06% at 3120.17. The high price reached 3127.64. The low extended to 3113.47
  • Nasdaq index rose 20.722 points or 0.24% at 8570.66. The high reached 8589.758. The low extended to 8536.727.
  • Dow index fell -102.37 points or -0.37% at 27933.85. The high reached 28090.21. The low extended to 27894.52
Some winner for the day included:
  • AMD, +3.43%
  • Tesla, +2.75%
  • First Solar, +2.71%
  • Broadcom, +2.12%
  • Amgen, +1.77%
  • Visa, +1.73%
  • Mastercard, +1.58%
  • Intuitive Surgical, +1.52%
  • Intuit, +1.41%
  • Adobe, +1.20%
  • Pfizer, +1.18%
Some of the biggest losers included:
  • Slack, -8.40%
  • Home Depot, -5.47%
  • AT&T, -4.04%
  • Beyond Meat -2.96%
  • Qualcomm, -2.79%
  • Micron, -2.57%
  • Nvidia, -2.01%
  • Bristol-Myers Squibb, -2.0%
  • Chevron, -1.77%
  • Phillip Morris, -1.52%
  • FedEx, -1.30%
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