Archives of “Stock market downturn” tag

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Stocks rally into the close but still off highest levels

  
Analysis, US Market
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Stocks have worst week in 3 months

The major stock indices rallied into the close but are still selling off the highest levels.

  • The stocks have the worst week in 3 months
  • Dow and S&P have their 1st positive day after 4 days down
  • stocks rebounded after the plunge on Thursday
a snapshot of the major indices at the close shows:
  • S&P index +39.21 points or 1.31% at 3041.31
  • NASDAQ index rose 96.02 points or 1.01% at 9588.80
  • Dow rose 477.37 points or 1.9% at 25605.54.
Although higher, the gains were well off the highs but also well off the lows (closing around mid range).
  • S&P index was up as much as 2.88% but was as low as -0.59%
  • Nasdaq index was up as much as 2.91% but was as low as -0.83%
  • Dow was up as much as 3.33% but was as low as -0.20%.
Below are the % high, low and closes for the major NA and European indices for today.
Stocks have worst week in 3 months For the week, the major indices all fell with the Dow the weakest.
  • S&P, -4.78%
  • Nasdaq, -2.3%
  • Dow, -5.55%

Major indices have worst day since March 16th.

  
Analysis, US Market
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Dow and S&P down for the 3rd day in a row

The major indices had there worst day since March 16 as concerns about the growth prospects and increases in coronavirus cases weigh on equities.  Initial jobless claims should another 1.5 million increase which certainly did not help.

  • The Dow is closing at the lowest level since May 27.
  • The Dow and S&P are down for the 3rd day in a row
  • all 30 of the Dow stocks close lower with Boeing the weakest at -16.42%
  • worst day since March 16 for the major indices
  • The NASDAQ index snapped it’s a 4 day win streak
  • Dow and S&P on track for its worst week in 3 months
  • S&P index closes below its 200 day moving average at 3013
  • the Dow industrial average is within 300 points of a 10% decline from the high (24824 is the level)
  • the Dow industrial average fell back below its 100 day moving average at 25123.55, but is closing just above that level at 25128.13
The final numbers are showing:
  • S&P index -188.04 points or -5.89% up 3002.10. The low for the day reached 2999.49. The high was way up at 3123.53
  • NASDAQ index fell -527.62 points or -5.27% to 9492.72. That was just above the low for the day at 9491.30. The high was up at 9868.02
  • The Dow industrial average fell 1861.82 points or -6.9% to 25128.13. The low for the day reached 25082.72. The high was up at 26294.08
big losers today included:
  • Boeing, -16.42%
  • United Airlines, -16.09%
  • Delta Air Lines, -14.01%
  • Citigroup, -13.37%
  • Schlumberger, -11.60%
  • Southwest Airlines, -11.58%
  • Marriott, -10.91%
  • Fiat Chrysler, -10.10%
  • Bank of America, -10.0%
  • Ford Motor, -9.9%
  • Wells Fargo, -9.83%
  • PNC financial, -9.62%
  • Goldman Sachs, -9.14%
  • IBM, -9.12%
  • J.P. Morgan, -8.37%
The pattern of airlines and financials are chief among the biggest decliners today.
The biggest gainer in the Dow 30 today was Walmart which only fell by -0.87%. Procter & Gamble was the next best performer with a -2.41% decline.
Were there any winners today?
  • Zoom increase by 0.54%

Major US indices close near session highs

  
Analysis, US Market
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Dow industrial average rising by over 1%. Posts 2 day win streak

the US major indices are closing near session highs. The Dow industrial average led the index is charged with a 1.05% gain. S&P and NASDAQ posts the 6th gain in 7 trading days. The NASDAQ index is closing lesson 3% from the record high set in February.

The final numbers are showing:
  • S&P index up 25.09 points or 0.82% at 3080.82. The high price reached 3081.07. The low price extended to 3051.64
  • NASDAQ index rose 56.326 points or 0.59% at 9608.37. The high price reached 9611.22. The low price extended to 9472.08
  • Dow industrial average rose by 267.63 points or 1.05% at 25742.65. The high price reached 25743.13. The low extended to 25523.74.
Some winners today included:
  • Chewy, +9.6%
  • Square Inc., +6.3%
  • Qualcomm, +6.2%
  • Alcoa, +4.53%
  • General Electric, +4.29%
  • Alibaba, +3.79%
  • FedEx +3.42%
  • Slack, +3.2%
  • Citigroup, +2.79%
  • Broadcom, +2.76%
  • Southwest Airline, +2.56%
  • American Express, +2.36%
Some losers today included:
  • LYFT, -2.85%
  • Wynn Resorts, -2.73%
  • Beyond Meat, -2.61%
  • Gilead, -2.53%
  • Tesla, -1.87%
  • Amgen, -1.43%
  • Raytheon technologies, -1.28%
  • Northrop Grumman, -1.16%
  • Intuit, -1.03%
  • Booking.com -1.0%
  • Starbucks, -0.69%
  • Costco, -0.39%

S&P and NASDAQ erase yesterday’s losses

  
Analysis, US Market
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The last 4 of 5 days have been to the upside for the major indices

The major indices are closing with solid gains on the day.  The NASDAQ index closed at the highest level since February 21. Facebook and Amazon closed at record high levels.   The S&P index is closing higher but after trading above its 100 day moving average at 2975.37, the pair has rotated lower and will close below its 100 day moving average at 2971.61.  So that is a bit of a disappointment

The final numbers are showing:
  • The S&P rose 48.67 points or 1.67% to 2971.61. The high reached 2980.29. The low extended to 2953.63.
  • The NASDAQ index rose by 190.67 points or 2.08% to 9375.77. The high price extended to 9392.816. The low price fell 29304.199
  • The Dow industrial average rose by 369.04 points or 1.52% to 24575.90. The high price extended to 24649.48. The low fell to 24455.94
some big gainers today included:
  • Twitter, +7.83%
  • Alcoa, +7.88%
  • Deutsche Bank, +6.23%
  • Facebook, +6.04%
  • Wynn Resorts +5.88%
  • Slack, plus a 5.7%
  • Southwest air, +5.27%
  • United Airlines, +5.24%
  • Disney, +4.86%
  • Intel, +4.69%
  • Morgan Stanley, +4.4%
losers today included:
  • Lockheed Martin, -2.46%
  • Northrop Grumman, -1.94%
  • Chewy, -1.62%
  • J&J, -0.9%
  • Merck and Company, -0.86%
  • United health, -0.42%
  • Verizon, -0.22%
  • Pfizer, -0.13%
  • Home Depot, -0.03%

US major indices close lower but off the low levels for the day

  
Analysis, US Market
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Prices recover in the last hour of trading

The major indices are closing lower but off the low levels for the day. The last hour of trading saw prices move higher. The major indices have moved lower in 3 last 4 trading days
The final numbers are showing:
  • The S&P index fell -38.34 points or -1.52% at 2488.56. The high for the day reached 2538.18 . The low extended to 2459.96
  • the NASDAQ index fell -114.225 points or -1.53% to 7373.08. The high price reached 7518.71.The low extended to 7288.11
  • The Dow fell -357.99 points or -1.67% to 21055.49. The high price reached to 21 447.81. The low extended to 20863.09
For the week, the major indices all declined with the Dow industrial average falling the most. The changes for the week are showing:
  • Dow -2.7%
  • S&P -2.08%
  • Nasdaq -1.72%

YTD, the Dow al  so is leading the declines:

  • Dow -26.23%
  • S&P, -22.97%
  • Nasdaq, -17.83%.

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.

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

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.

(more…)

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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