Nasdaq up 1.24%. S&P index up 1.08%. Dow up 1.08%
The Nasdaq composite index is ending the day up 1.23% – a record close for that index. The S&P rose by 1.08% and the Dow also gained over 1% (up 1.06%).
3M, Home Depot, Microsoft all traded at record highs.
Today is the biggest one day gain since March 1st.
- Nasdaq rose by 73.299 points or 1.24% to 5983.82. The high reached 5989.91, less than 11 points from the Nasdaq 6000. The low was 5970.254.
- The S&P index rose y 25.45 points or 1.08% to 2374.15. The high reached 2376.98. The low came in at 2369.19. The all time high for the S&P index came in at 2400.98 on March 1.
- The Dow rose by 216.13 to 20763.89. The high reached 20792.20. The low came in at 20723.59. The all time high for the Dow came on March 1st at a high price of 21169.11. Today, the Dow moved back above the 50 day MA at 20717.77. The price has been below that MA since April 12th.
Wall Street failed to hang on to its modest gains on Friday as escalating tensions between the US and Russia over President Donald Trump’s surprise airstrike on Syria weighed on investor sentiment.
The S&P 500 gave up gains of as much as 0.3 per cent to end the day 0.1 per cent lower at 2,355.54. For the week, the index is down 0.3 per cent.
It’s a similar story for the Dow Jones Industrial Average, which closed largely unchanged for the day, as well as for the week at 20.656.10, after having advanced as much as 0.3 per cent earlier on Friday.
The technology-heavy Nasdaq Composite also ended the day flat at 5,877.81 after reaching a session high of 5,892.06.
Stocks had a choppy Friday, with the major indices swinging between minor losses and gains as the markets weighed a weaker-than-expected March jobs report against Mr Trump’s latest foreign-policy shift and a terror attack in Stockholm.
S&P and Nasdaq little changed. Dow up +0.19%
The US major indices are ending the day with gains. The S&P and Nasdaq indices were little changed admittedly, but it was still positive and the lows were much lower.
- S&P index is ending the day up 1.32 points or 0.06% on the day. The low reached 2350.72 and the high reached 2360.53. The index is settling near the high for the day at 2360.53
- The Nasdaq composite index is settling at 5898.609, up 3.927 points or 0.07%. The high reached 5901.391. The low was about 20 points lower than the close at 5878.76
- The Dow industrial average closed at 20689, up 39 points or +0.19%. The high reached 20701. The low was 84 points lower at 20605 earlier in the session.
Another day where early losses were largely erased by the close.
S&P up +0.11%. Nasdaq up +0.38%
The major US stock indices are ending the session mixed with the broader markets up, while the more specialized Dow Industrial Average down.
- S&P index is ending the day up 2.56 points or +0.11%
- Nasdaq composite index is ending the day up 22.40 points or 0.38%
- Dow Industrial Average is down -42.18 points or-0.20%
The Dow has been down 9 of the last 10 trading days. For the year it is still up 4.54% while the S&P is up 5.46% and the Nasdaq is up 9.56%.
S&P down -0.30%. Nasdaq down -0.26%. Dow down -0.15%
The US major indices are all closing lower for the day.
- S&P index is closing down -0.29%
- The NASDAQ composite index is down -0.26%
- The Dow industrial average is closing down -0.15%
In other markets:
- Spot gold is down $9.41 to $1215.87
- Spot silver is down $.28 to $17.49
- WTI crude is trading at $53.10 down $.10 on the day or -0.19%
in the US debt market:
- 2 year note 1.325%, +2 basis points
- 5 year note 2.045%, +2.6 basis points
- 10 year note 2.512%, +1.2 basis points
- 30 year bond 3.114%, plus one basis point
The Trump Rally is back on again.
Wall Street didn’t get the nitty gritty details it wanted on policies such as tax reform and trade from President Trump Tuesday night in his speech to Congress, but the commander-in-chief’s “presidential” tone set investors at ease and they pushed the Dow up more than 300 points to a record-setting close above 21,000.
Investors are taking Trump’s measured and positive demeanor as a sign that he will have a better chance of getting his economic agenda through Congress.
In his address to a joint session of lawmakers, Trump reiterated his push for “historic tax reform” that will put American businesses on a level playing field with foreign competitors, repeated his calls for a $1 trillion infrastructure spending plan and noted that his administration has “undertaken a historic effort to massively reduce job‑crushing regulations.” The president also repeated his promise to repeal and replace Obamacare.
Wall Street was also listening for the things Trump didn’t say. He didn’t echo recent attacks on the media, complain about fake news or mention spats with celebrities and other topics considered “off message.”
Stocks rose Monday as the Dow closed at a record high for a twelfth straight day, something it hasn’t done since Jan. 1987 when it ran off 13 straight record closes to start the year, according to Bespoke Investment Group.
The Dow Jones industrial average rose 15.68 points, or 0.1%, to 20,837.44. The Standard & Poor’s 500 index added 2.39, or 0.1%, to 2369.73 and the Nasdaq composite index gained 16.59, or 0.3%, to 5861.90.
Energy stocks led the gainers as the price of crude rose. Benchmark U.S. crude was up 20 cents, or 0.4%, at $54.15 a barrel in New York. The contract fell 46 cents on Friday.
Investors were looking ahead to President Donald Trump’s speech to Congress on Tuesday for details of promised tax cuts and infrastructure spending. U.S. stocks have benefited from Trump’s promise of pro-business changes, but investors are waiting to see how large and rapid those changes will be.
During a meeting with governors Monday, Trump noted that his upcoming budget would include a big boost to defense spending. The White House separately said that the budget would include a $54 billion increase in defense spending while imposing corresponding cuts to domestic programs and foreign aid.
Investors were also looking ahead to Trump’s speech Tuesday to a joint session of Congress for details of how he plans to carry out promises to cut taxes and step up infrastructure spending.
n Europe, Germany’s DAX rose 0.2%, while France’s CAC-40 was flat. London’s FTSE-100 added 0.1% Major indexes in Asia posted losses. Tokyo’s Nikkei 225 index fell 0.9%. Hong Kong’s Hang Seng slid 0.2%. Seoul’s Kospi shed 0.4%.
Global equities are in virgin territory after Wall Street closed at another record amid a positive outlook for economic growth.
Political concerns leave the euro carrying the wooden spoon in the forex markets, while the broadly upbeat tone damps demand for sovereign bonds, pushing up yields.
The FTSE All-World equity index is at another record, up 0.2 per cent to 295,24, as investors are buoyed by signs of improvement in the global economy.
A batch of national and regional manufacturing and service sector surveys released on Tuesday provided the latest evidence that activity is picking up.
With US stocks making up about 50 per cent of the All-World, it is Wall Street that is the main driver of the global rally.
U.S. stocks fell Tuesday as the market fallout of Trump’s travel ban on seven Muslim-majority countries continues to take a toll and investors digest weak fourth-quarter results from companies including UPS and Under Armour.
Industrial companies are down the most, but health care companies offset some of the losses. As they look for less risky investments, buyers are moving money into bonds and stocks that pay large dividends, like utilities.
The Standard & Poor’s 500 index fell for a fourth straight day, its longest losing streak since before the presidential election in November. But the losses have been fairly small, and for the second day in a row, stocks recovered some of their losses late in the day.
The Standard & Poor’s 500 index fell 2.03 points, or 0.1%, to 2278.87. The Dow Jones industrial average dropped 107.04 points, or 0.5%, to 19,864.09. The Nasdaq composite index was able to cut its losses and closed up 1.07 to 5614.79.
Bond prices rose as investors snapped up bonds. The yield on the 10-year Treasury note fell to 2.45% from 2.49%. That hurt financial stocks, as lower bond yields reduce interest rates and the profits those companies make from lending.
Investors who want income also bought stocks that pay outsize dividends, including real estate investment trusts and utility companies. Gains for those stocks limited the market’s losses overall.
In earnings news: