Archives of “stock market” tag

rss

US Indices take a Friday fall to finish the week slightly lower

  
Analysis, US Market
#  #  #  #  #  #
On the day:
  • S&P 500 down 2.8%
  • DJIA -2.6%
  • Nasdaq -3.2%
  • TSX -1.0%
On the week:
  • S&P 500 down down 0.2%
  • DJIA -0.2%
  • Nasdaq -0.3%
  • TSX +1.4%

Here is a look at the weekly S&P 500 chart. That latest candle isn’t a pretty one:

A look at US and Canadian markets

European shares end with solid gains as risk on sentiment increases

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #

Hopes f him him him rom Gilead news propel European shares higher.

European indices are ending the session with solid gains on hopes from the Gilead remdesivir drug,
  • German DAX, +3.0%
  • France’s CAC, +2.32%
  • UK’s FTSE 100, +2.77%
  • Spain’s Ibex, +3.24%
In the European 10 year note sector are mostly lower with the exception of Italy (their credit rating was lowered by Fitch after the close yesterday)
Hopes f him him him _rom Gilead news propel European shares higher.

(more…)

Major US stock indices rocket higher into the close

  
Analysis, US Market
#  #  #  #

Indices all close with gains of over 7%

The major US stock indices rocketed higher into the close.  Reports that another $1.5 trillion of stimulus was leaked to Wall Street executives may have been a catalyst. The major indices are closing with oversized gains with the S&P bringing up the rear with a impressive 7.03% rise
The final numbers are showing:
  • S&P index up 175.03 points or 7.03% to 2663.68
  • NASDAQ index rose 540.15 points or 7.33% to 7913.23
  • Dow rose 1627.46 points or 7.73% to 2679.99

All 30 Dow stocks rose on the day led by:

  • Boeing +19.26%
  • Raytheon Technologies, +15.28%
  • American Express, +13.91%
  • Visa, +11.46%
  • DuPont, +11.0%
  • McDonald’s, +10.4%
The laggards in the Dow 30 include:
  • Procter & Gamble, +2.25%
  • Pfizer, +2.62%
  • Exxon Mobil, +3.09%
  • Verizon, +3.25%
  • Johnson & Johnson, +4.03%

Major indices close lower after late day rally fizzles out

  
Analysis, Global Indices, US Market
#  #  #  #  #  #  #  #  #  #

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
#  #  #  #  #  #  #  #  #  #  #

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.

The Philippines has suspended FX and bond trading

  
  Analysis
#  #  #  #  #  #  #  #

Trading, clearing and settlement of foreign exchange and fixed interest suspended as of today

  • until further notice
There are plenty of calls for this to happen in major markets also. Be aware if you are in a position and the market is shuttered you will be unable to exit until it reopens. There may, of course, be work around hedges to be used.

US stocks post largest one-day gain since December 2018

  
Analysis, US Market
#  #  #  #  #  #  #  #  #

Big gains in the US and Canada

Daily change:
  • S&P 500 +135 points to 2882, +4.94%
  • Nasdaq +4.95%
  • DJIA +4.4%
  • Toronto TSX +3.1% — biggest gain since 2011
That a 3.1% gain in Canada is the biggest since 2011 is sad on so many levels. That index is below the 2008 highs.
Big gains in the US and Canada

US stocks suffer worst day since 2008

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #

Closing levels for the main US indexes

Closing levels for the main US indexes
US stocks fell to fresh session lows of 8% late in the day but staged a small bounce late in the day to finish at slightly better levels.
Nonetheless, it was the worst day for US stock markets since 2008 and possibly the worst day ever for oil stocks.
Here is the damage:
  • S&P 500 -7.6% — a 226 point decline to 2746
  • DJIA a 7.8% decline or -2015 points to 23,849
  • Nasdaq -625 points to 7950 — a 7.3% decline
  • Toronto TSX -9.3%
These headlines all sound terrible and this was the worst day for US stocks since December 2008 but when you consider that we’re only back to the June lows, it doesn’t seem that bad. A fall to the 2018 lows would be a decline of 31%.

Another sharp day down in the major US indices

  
Analysis, PODCAST, US Market
#  #  #  #  #  #  #  #  #  #  #  #

Yields fall to new lows

The risk off flows continued in the US stock market and debt market.
The Dow industrial average was down over 1000 points at 1 point during the day. The S&P index fell below the 3000 level briefly before rebounding in the last hour of trading.
In the US debt market yields resumed their downward bias after yesterdays modest rebound.
The final numbers for the major indices are showing:
  • S&P index -106.18 points or -3.39% at 3023.94. The low price extended to 2999.83. The high was up at 3083.04
  • NASDAQ index fell -279.49 points or -3.10% at 8738.59. The low price reached 8677.387. The high price extended to 8921.078
  • Dow industrial average fell minus this 969.58 points or -3.58% at 26121.28. The low price extended to 25943.33. The high price reached 26671.92
In the US debt market the 10 year yield fell to a new record low level of 0.898%. It is currently trading at 0.91%. That is still down -14.2 basis points on the day. The yield curve flattening a bit to 32.49 basis points from close to 36 basis points the close yesterday, but all maturity levels fell by over -10 basis points.

US yields tumbled lower

The good news is that the European stock markets are closed

  
Analysis, Global Indices
#  #  #  #  #  #  #  #  #

German DAX, -3.1%. France’s CAC down -3.8%

The good news for the European stock markets is that they are close for the day.  Each of the major indices had sharp declines. Sometimes closing feels good. The provisional closes are showing:
  • German DAX, -3.1%
  • France’s CAC, -3.2%
  • UK’s FTSE 100, -3.5%
  • Spain’s Ibex, -3.8%
  • Italy’s FTSE MIB, -2.6%
To give an idea of the year to date performance of the major indices :
  • Germany, -6.65%
  • France, -7.6%
  • UK FTSE 100, -9.7%
  • Spain’s Ibex, -5.6%
  • Italy’s FTSE MIB, -2.8%
Comparing to the US market year-to-date:
  • Dow industrial average, -7.6%
  • S&P index, -5.63%
  • NASDAQ index -2.42%
In Asia the year-to-date’s are showing:
  • Japan’s Nikkei, -7.22%
  • Hong Kong’s Hang Seng index, -5.01%
  • Australia S&P/ASX 200 -0.39%
  • China’s Shanghai index -1.93%

In other markets as London/European traders look to exit:

  • gold is trading up $12.80 or 0.78% at $1653.72
  • WTI crude oil futures are trading down $-2.08 or -4.25% of $46.66
In the US stock market the snapshot of the major indices currently shows:
  • S&P index -69.3 points or -2.22% of 3047.44
  • NASDAQ index -221.2 points or -2.46% at 8759.96
  • Dow -578 points or at -2.17% at 26371
In the US debt market yields are sharply lower with the 2 year down -8.9 basis points. The 10 year is down -5.8 basis points.. The 2 – 10 yield spread has widened to 20.42 basis points from 17.24 basis points yesterday on increasing expectations that the FOMC will be forced to lower rates
US yields are lower across the board with a letter yield curve
In the European debt market, yields are mixed with German, France, and UK yields lower while Spain, Italy, Portugal yields are higher (flight to safety and out of the riskier countries):
European yields are mixed
In the forex market, the EUR is the strongest (and got stronger in the session).  Germany did say earlier today that they would contemplate more fiscal stimulus and technicals improved. The EURUSD did run into resistance against the 1.100 level however.
The weakest currency is the CAD as oil continues to get hammered. The GBP and USD are also weaker on the day:
Go to top