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NASDAQ, S&P and Dow all close at record highs

  
Analysis, US Market
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Late rally kicks the S&P into positive territory

the major indices all closed positive on the day and that means record closes. The S&P was the closest at not reaching the milestone, but some late buying kicked the index into positive territory.  The NASDAQ and Dow had an easier time of it.
The unofficial closes are showing:
  • The S&P index +1.37 points or 0.04% at 3121.84. The high reached 3124.17. The low extended to 3112.06
  • The NASDAQ index +9.109 points or 0.11% at 8549.93. The high reached 8559.78. The low extended to 8503.625
  • The Dow close up 530.52 points or 0.11% at 28035.43. The high reached 28040.97. The low extended to 27969.24.
The major indices open lower and was under early pressure, but started to come back after word Pres. Trump and Fed Chair Powell had a private meeting in the private quarters of the White House (with Treasury Secretary Mnuchin).    Concerns about China were replaced by hopes that the Fed Chair might be convinced to cut rates down the road.
Disney continues to be a boost to the Dow. It rose $2.98 or 2.06%.
Other gainers today included:
  • Lyft, +4.37%
  • Nvidia, +3.99%
  • AMD, +3.5%
  • Netflix, +2.58%
  • Chipotle, +2.22%
  • Square, +1.59%
  • UnitedHealth, +1.3%
  • Facebook, +1.22%
  • Nike, +1.18%
  • Procter & Gamble, +1.14%
  • Walmart, +1.1%
Some underperformers today included:
  • Under Armour, -2.59%
  • Fiat, -2.31%
  • Schlumberger, -1.92%
  • Chevron, -1.71%
  • Bristol-Myers Squibb, -1.64%
  • Beyond Meat, -1.26%
  • Caterpillar, -1.2%
  • Gilead, -1.14%

Record closes for all three US indices to end the week

  
Analysis, Global Indices, US Market
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The Dow above 28000 for the first time ever.  Indices close at record all time high levels.

The major indices are closing at records. The Dow hits 28,000 for the 1st time ever and looks like my close above that level as well. The S&P index and NASDAQ index are also trading at record levels and closed at the highs.  It is hard to get any better than that.
The closing numbers are showing:
  • The S&P index up 23.73 points or 0.77% at 3120.37. That is the high for the day. The low for the day was down at 3104.60
  • The NASDAQ index is up 61.81 points or 0.73% at 8540.82. That too is the high for the day. The low for the day reached 8506.79.
  • The Dow close up 222.45 points or 0.80% at 28004.69. Yes. it too is at the high for the day.  The low for the day reached 27843.54.
Below are the percentage changes of the major North American and European indices today (along with their low to high ranges).
The Dow above 28000 for the first time ever.  Indices close at record all time high levels.  

For the week, the Dow was the biggest gainer of a sample of major indices. The Shanghai composite index was the biggest decliner at -2.52%.

The weekly percentage changes for the major global stock indices

Overnight US Market : Dow record close

  
Analysis, US Market
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It could have been worse.

The US had a semi holiday today in observance of Veterans Day. The bond market was closed, government offices were closed (so no economic news). The US stock markets were open, however.
After opening lower and extending to the downside, a slow grind higher took the Dow into positive territory. The S&P and Nasdaq stilll ended down, but well off the lows.
The final numbers are showing:
  • The S&P index fell -6.07 points or -0.20% to 3087.01
  • The NASDAQ index fell -11.036 points or -0.13% t0 8464.27
  • The Dow rose 10.25 points or 0.04% to 27691.49.
The Dow gain was good enough for a record close once again. The S&P and NASDAQ which also closed at record levels on Friday, could not repeat the feat today.
Below is a graphical look at the percentage high, low, and close for the major indices in North America and Europe today.
The Dow closes at a new all-time record high

The S&P and Dow off highs but still close at record highs

  
Analysis, US Market
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All major indices close higher

The major stock indices closed off their high levels for the day as US/China trade deal details go back and forth.  However, they S&P and Dow still closed at record levels. The NASDAQ was higher but still off its record close level.
The final numbers are showing
  • S&P index, 8.42 points or 0.27% at 3085.20. The high reached 3097.77. The low extended to 3080.23
  • NASDAQ index +23.88 points or 0.28% at 8434.51. The high reached 8483.156. The low extended to 8415.87
  • Dow is up 182.24 points or 0.66% at 27674.80. The high for the day reached 27774.67 The low reached 27590.16
After the close, Disney EPS came in higher than expectations at $1.07 versus $0.95 estimate. The revenues came in at $19.10 billion versus $19.04 billion estimate.  Is the stock is trading at $136.00 after closing at $133.12.

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

US Indices reverse from the sharp declines and close at session highs

  
Analysis, US Market
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NASDAQ index up 1.12%. S&P index also up nicely

The US stocks fell sharply after the worse than expected ISM nonmanufacturing index. The NASDAQ and S&P index fell -1.1% added slows. The Dow industrial average was down -1.29%. However, buyers into the market by the close, the major indices were trading at session highs.
The final numbers are showing:
  • The S&P index rose 23.02 points or 0.80% at 2910.63
  • The NASDAQ index rose 87.02 points or 1.12% at 7872.26
  • The Dow industrial average rose 122.42 points or 0.47% at 26201
The percentage change ranges for the major indices in the North America and Europe are outline below. In Europe, the German DAX got creamed falling -2.76%. The UK FTSE was also lower but a more modest -0.63%.
NASDAQ index up 1.12%. S&P index also up nicely_

Some winners today:

  • Slack, +6.27%
  • Nvidia, +4.83%
  • Micron, +3.57%
  • Square, +3.25%
  • Pepsi, +2.95%
  • Facebook, plus a 2.75%
  • Pfizer +2.22%
Some losers on the day included
  • Tesla -4.16%
  • Charles Schwab, -3.83%
  • Delta Air Lines, -2.8%
  • Alcoa, -1.35%
  • Disney, -0.76%
  • UnitedHealth, -0.66%
  • Johnson & Johnson, -0.5%

US stocks break out of recent ranges with a big move higher

  
Analysis, US Market
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Dow and S&P up for the 5th time in 6 trading days

The US major indices all broke above recent up and down trading ranges, and above their 50 day MAs as well.  The major pairs are each up over 1.30%. Big day for equities.

The final numbers are showing:

  • S&P index up 38.16 points or 1.30% to 2975.95. The day moving average is down at 2945.21.
  • NASDAQ index up 139.94 points or 1.75% at 8116.82. The 50 day moving average is down at 8047.98.
  • Dow is up 371.93 points or 1.41% at 26727.40. The 50 day moving average is down at 26563.34.
Apart from the UK’s FTSE which fell by -0.55% on the day on the back of a continuation of the upward momentum in the GBP, the other major indices traded above the 0.0% line for all of the day.   The biggest gainer was the Russell 2000 index of small cap stocks which rose by 1.86%. The NASDAQ composite index tacked on another 1.75% gain after rising by nearly 2% at the highs.

An ugly day for US equities. Major indices down for the week.

  
Analysis, US Market
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Dow falls over 600 points.  Nasdaq down -3.0%

It was an ugly day for the US equities. The Dow fell over 600 points. The Nasdaq is closing down -3%.  UGLY.
The escalation of the trade ward is to blame. Pres. Trump has threatened retaliation for the new China tariffs.  He also continued the criticism of the Fed’s Powell.
The final numbers are showing:
  • The S&P fell -75.84 points or -2.59% at 2847.11
  • The Nasdaq fell -239.62 points or -3.00% at 7751.77
  • The Dow fell -623.34 points or -2.37% at 25628.90
Looking at the % ranges for the major indices below, the major indices in US and Europe all closed at or near the session lows today.
Dow falls over 600 points.  Nasdaq down -3.0%

Looking at the point changes, the Dow was down -745 points at the lows.

The point changes of the major indices
For the week, the major indices are ending the week in the red as well:
  • The S&P fell -1.43%
  • The Nasdaq fell -1.83%
  • The Dow fell -0.99%.
Big losers today:
  • AMD, -7.4%
  • Broadcom, -5.39%
  • NVIDIA, -5.16%
  • Tesla, -4.84%
  • Qualcomm, -4.71%
  • Apple, -4.62%
  • Alibaba, -4.29%
  • Micron, -4.06%
  • Intel, -3.89%
  • American Express, -3.65%

US stock indices go out near the lows for the day

  
Analysis, US Market
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  • The S&P index fell -23.11 points or 0.79% at 2900.53
  • The NASDAQ index fell -54.25 points or -0.68% at 7948.56
  • The Dow industrial average fell -173.35 points or -0.66% at 25962.42
Selling into the closeThe major indices open lower but did recover midday and traded marginally higher before reversing and moving back down.
The European indices were higher earlier in the day, but gave up those gains and also ended near low levels.
Winners on the day included:
  • Beyond Meat, +6.55%
  • Home Depot, +4.45%
  • LYFT, +3.81%
  • Qualcomm, +1.60%
  • Twitter, +1.44%
  • Broadcom, +0.57%
  • Square, +0.48%
  • Intuitive Surgical, +0.47%

Losers included:

  • Netflix, -3.36%
  • AMD, -2.41%
  • American Express, -2.38%
  • Bank of America, -2.02%
  • UnitedHealth, -1.90%
  • Micron, -1.73%
  • Nvidia, -1.70%
  • PNC financial, -1.68%
  • General Mills, -1.65%
  • Pfizer, -1.59%
  • Coca-Cola, -1.5%
  • IBM, -1.44%
  • Alphabet, -1.41%
  • Facebook, -1.39%

Major US stock indices close with (go on, have a guess!) …. big declines

  
Analysis, US Market
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Ladies and gentlemen, as a special for today only, the four stock codes to watch are

  • U
  • G
  • L
  • and Y
Closing numbers for the big 3 are showing:
  • S&P index down 87.99 points, which is -3.00% at 2,844.06
  • NASDAQ index down 279.54 points or -3.49% at 7,724.53
  • Dow down 772.89 points or -2.92% at 25,712.12
Off lows but not a good day. All three with their biggest daily losses for this year.
The context of the moves today:
  • global growth weaker and weakeneing
  • global trade getting rocked by trade wars
  • The Federal Reserve recently cut and is likely to do so again (a bit of tail and dog, chicken and egg here …. shoose whichever you like)
  • Stock valuations are …. well … high. Some ludicrously so, but they have been for years …
  • what have I missed?
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