The S&P 500 and Nasdaq Composite inched forward just 0.7 and 4.9 points respectively to new highs on Friday.
The US stock indices were nearly unchanged throughout the trading day and the S&P 500 ended flat at 2,415.80 while the Dow Jones Industrial Average was also nearly unchanged at 21,080.11. The Nasdaq Composite eked out a modest 0.1 per cent gain to end the day at 6,210.20.
For the S&P 500, the record close was the 20th closing high of this year and the 28th record high since the US presidential election. In all of 2016, by comparison, the S&P 500 notched 18 record closings, according to data from S&P Dow Jones indices.
Despite the three record closings this week, the S&P 500 was up just 1.4 per cent from last Friday, with gains in the utilities, information technology and consumer staples sectors, making up for a sell off in the energy sector.
The price of oil had its steepest fall on Thursday in three weeks after Opec said it would extend output cuts as investors appeared disappointed by the agreement. After paring back some losses on Friday, however, Brent crude settled 2.7 per lower for the week. Stocks within the S&P 500 energy index lost 2.2 per cent over the same period.
Elsewhere, the US dollar index measuring the buck against a basket of its peers was also 0.28 per cent higher at 97.417.
What sell-off? In a feat that has not been accomplished in more than a week, the S&P 500 on Wednesday notched a fresh record closing high.
The S&P 500 gained 0.25 per cent to 2,404, the Dow Jones Industrial Average added 0.36 per cent to 21,012.4, and the Nasdaq Composite gained 0.44 per cent to 6,163.
Last week, equities markets took a blow from rising concern over the political fortunes of US President Donald Trump.
The former businessman’s election last year helped stoke sharp gains for equities on expectations that his policies will support corporate America. That enthusiasm has ebbed and flowed as Mr Trump has struggled to dig-out of numerous scandals.
Still, after Wednesday’s gains, the most recent bout of selling has been entirely reversed and then some. The S&P 500 index is up 7.4 per cent for the year.
Investors on Wednesday parsed through minutes from the Federal Reserve’s May meeting, which set the table for next month’s meeting, which could see it raise rates for the second time this year. Investors interpreted the news as dovish on margin, however, with the US dollar slipping 0.26 per cent against a basket of six peers.
The yield on the benchmark 10-year Treasury note fell 0.0298 per cent to 2.2502 per cent.
S&P tumbles -1.81%. Dow down -1.77%. The Nasdaq loses 2.57%. OUCH!
The US stocks are ending the day with the largest declines on the year.
- The Nasdaq was the hardest hit, falling by -2.57% or -158.63 points to 6011.234. The high reached 6122.87. The low 6009.477, not far from the closing level
- The S&P fell by -43.64 points or 1.82% to 2357.03. The high reached 2384.87. The low came in at 2356.21.
- The Dow fell by -372.82 points or -1.78% to 20606.93. The high reached 20846.17. The low 20601.08.
2017 big gainers took it on the chin today:
- Apple fell 3.36%
- Amazon fell -2.23%
- Microsoft fell -2.78%
- Facebook fell -3.29%
- Google fell -2.48%
- Netflix fell -3.90%
- Tesla fell -3.44%
Banks were also hit on concerns the Fed might not be so inclined to raise rates.
- Citigroup fell -4.02%
- JP Morgan Chase fell -3.81%
S&P down -0.05%. Nasdaq unchanged. Dow -0.10%
The markets got the broad brush strokes of Pres. Trumps tax plan from the team of Mnuchin and Cohn. The stock market was not all that impressed (or the 2x +200 days already had a lot priced in).
Anyway, the US stocks was able to still stay positive until the very end when the prices dipped into the red.
At the end of the day:
- The S&P ended down -1.16 points or -0.05% to 2387.45. The high for the day toyed with the 2400 level (high reached 2398.16). The low came in at 2386.76.
- The Dow fell by -21.03 points or -0.10%. The high extended to 21070. The low reached 20972.27. The index closed at 20975.09.
- The Nasdaq is ending the day down -0.265 points, unchanged on the day. The high extended to 6040.89. The low 6021.719. The close 6025.227.
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.
Not today Trump. France has an election.
The major US indices are ending the day lower but losses are somewhat modest. Even Trumps claim that big tax cuts are coming next week did not have an impact. France elections this week helped to keep the lid on equities.
For the day:
- S&P ended down -0.30% to 2248.69. The high reached 2356.18. The low 2344.51. The index failed to close above the 50 day MA this week at 2357.42 despite a few tries to break back above. That is a little more bearish at the end of the week and something to watch in the early part of next week.
- One day after closing at a record level, the Nasdaq is closing at 5910.52 down -6.254 points or -0.11%
- The Dow fell by -30.95 points or -0.15%
For the week:
- S&P indeix is ending the week with a gain of 0.85%
- Nasdaq is ending with a gain of 1.82%
- The Dow is ending up 0.46%
For the year to date:
- S&P is up 4.91%
- Nasdaq is up 9.8%
- Dow is up 3.97%
Nasdaq up 0.92%. S&P up 0.76%. Dow up 0.86%
The US major indices are ending the day with solid gains.
The Nasdaq index is leading the way, closing at record highs today.
- The Nasdaq is up 53.74 points or 0.92% to 5916.77
- The S&P is also up strongly. The index is up 17.67 points or 0.76%. The index, however, could not close above its 50 day MA at 2356.38. The index is closing just below the MA at 2355.84
- The Dow industrial average is also closing higher by 174.22 points to 20578.71. The high reached 20629.78.
S&P, Nasdaq and Dow.
The major US stock indices are all closing lower. Moreover the S&P index is closing below it’s 50 day MA for the first time since the 8th of November. The 50 day MA comes in at 2350.92. Yesterday, the price fell below that MA line (it also fell below on March 27th) but recovered by the close. Today, was not so lucky as the price is not only closing below the MA line, but also closing nearer the low.
- The Nasdaq is closing down -30.612 points or -0.52%
- The Dow industrial average is closing down -59.44 points or -0.29%
For your guide the 50 day MA comes in 5828.43. The index settled at 5826.16 today.
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.