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Tue, 25th April 2017

Anirudh Sethi Report

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Archives of “nasdaq” Tag

Overnight US Market :Nasdaq closes at record levels. Major indices end the day with strong gains.

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.
The details:
  • 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.

Overnight US Market : US stocks squeak out gains in the major indices

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.

Overnight US Market :Dow closed + 44 points .S&P 500 up 8 points

The Standard & Poor’s 500 index rose 7.73 points, or 0.3 percent, to 2,372.60. The Dow Jones industrial average gained 44.79 points, or 0.2 percent, to 20,902.98. The Nasdaq composite added 22.92 points, or 0.4 percent, to 5,861.73.

Stocks had mostly fallen since March 1, the day indexes soared to their most recent record highs.

Overall it was a slow week for stocks. The current bull market had its eighth anniversary, but six-week winning streaks for the S&P 500 and Nasdaq ended, and the Russell 2000 index of small-company stocks took its biggest loss in three months.

U.S. employers added 235,000 jobs in February, according to the Department of Labor. The gains in hiring and pay, along with higher consumer and business confidence since the November election, could lift spending and investment in coming months and accelerate economic growth.

A poor jobs report was probably the last thing that could have stopped the Federal Reserve from raising interest rates next week.

Overnight US Market :Recover into the close but close near unchanged levels

The US major indices are ending the day with smalll gains.

  • S&P index +1.89 points or 0.08%
  • NASDAQ composite index +1.257 points or +0.02%
  • Dow industrial average +2.46 points or +0.01%
In other markets:
  • Spot gold $1202.13, down $6.20 or -0.51%
  • WTI Crude oil trading at $49.74. That is down $-.54 or -1.07%. The price has bounced off key support at $48.68/72 area where the 200 day MA and 50% retracement was found.
IN the US debt market
  • 2-year note 1.366%, +1.2 basis points
  • 5-year note  2.126%,, +3.3 basis points
  • 10 year note 2.562%,, +3.6  basis points.. The high in the 10 year reached 2.605% just short of the December high of 2.61%
  • 30 year bond 182%, +3.3 basis points

Overnight US Market :Dow closed +143 points.S&P 500 up 12 points.

Stocks around the world continued to push higher Monday, and U.S. indexes again hit records. Bond yields climbed.

The Standard & Poor’s 500 index rose 12.15 points, or 0.5%, to close at a record 2,328.25 and topped $20 trillion in market value for the first time ever. The Dow Jones industrial average rose 142.79 points, or 0.7%, to an all-time closing high of 20,412.16. The Nasdaq composite gained 29.83 points, or 0.5%, to a record 5,763.96.

Treasury yields also rose as the yield on the 10-year Treasury note rose to 2.43% from 2.41% late Friday. Two-year and 30-year Treasury yields also notched higher.

Roughly five stocks rose for every three that fell on the New York Stock Exchange. Financial stocks helped lead the way, and those in the S&P 500 rose 1.3%. That’s the largest gain among the 11 sectors that make up the index. Raw-material producers and industrial companies were also strong.

Stocks resumed their upward climb last week after stalling for a couple weeks. Strong earnings reports have helped drive the gains. The majority of companies in the S&P 500 that have reported fourth-quarter earnings so far, 69%, have beaten Wall Street’s expectations, according to S&P Global Market Intelligence. It’s mostly come through companies keeping control of costs better than analysts were forecasting.

Overnight US Markets :Dow closed + 113 points.Nasdaq Hits New High

Stocks jumped Tuesday as the S&P 500 and Nasdaq hit new all-time highs and the Dow moved back up toward the 20,000 level.

The Dow Jones industrial averagegained 113 points, or 0.6%, to 19,912.71. The Standard & Poor’s 500 index climbed 0.7% to an all-time closing high of 2280.07. The tech-heavy Nasdaq composite index rose 0.9% to set a new closing record of 5600.96.

Materials and financial companies led the stock indexes higher in afternoon trading as investors sized up the latest round of company earnings news. Energy stocks also rose as crude oil prices headed higher. Health care, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.

The heads of General Motors, Ford Motor and Fiat Chrysler Automobiles met with President Donald Trump early Tuesday. Trump wants the automakers to build new factories in the U.S. He’s warned of a “substantial border tax” on companies that move manufacturing out of the country and promised tax advantages to those that produce domestically. GM (GM) shares gained 1%, Ford (F) added 2.4% and  Fiat Chrysler (FCAU) jumped 5.9%.

Trump’s latest moves on trade and regulations have raised concerns over future access to the U.S. market, particularly among Asian countries. Trump signed a memorandum saying the U.S. will withdraw from the trade pact known as the Trans-Pacific Partnership. He also said he would renegotiate the North American Free Trade Agreement.

“The lack of any key U.S. economic data overnight had dealers focused exclusively on the Trump administration’s trade policy and the signing of the executive order to pull out of the TPP,” said Stephen Innes, senior trader at Oanda, of the Trans-Pacific Partnership.

Benchmark U.S. crude  rose 43 cents, or 0.8%, to $53.18 a barrel in New York. Brent crude, used to price international oils, gained 21 cents, or 0.4 %, at $55.44 a barrel in London.

The 10-year Treasury yield jumped to 2.47% from 2.40% late Monday.

Overnight US Market :Dow closed -72 points

The Dow Jones industrial average erased its gain for the year on Thursday, part of a pullback for stock indexes as Treasury yields continued their upward march.

The Dow Jones industrial average fell 72 points, or 0.4%, to 19,732.40. That puts the Dow down about 32 points for the year and will makes this the fifth straight day of losses. The Standard & Poor’s 500 index fell 0.4% to 2,263.69. The Nasdaq composite fell 0.3% to 5,540.08.

Four stocks fell for every one that rose on the New York Stock Exchange.

Stocks have slowed in 2017 following an electrifying jump higher since Election Day. Investors are waiting to see what a Donald Trump presidency will really mean for stocks. They’ve already seen the optimistic case, as shown in the nearly 6% jump for the S&P 500 since Donald Trump’s surprise victory of the White House, propelled by expectations for lower taxes and less regulation on businesses.

But on the possible downside, increased tariffs or trade restrictions could mean drops in profits for big U.S. companies.

Bond yields continued their march higher, and the 10-year Treasury yield rose to 2.47% from 2.43% late Wednesday. Yields have generally been climbing since Election Day on expectations that President-elect Donald Trump’s policies will spur more inflation and economic growth. The 10-year yield is still below its perch above 2.60% that it reached in mid-December, but it’s well above the 2.09% yield it was at a year ago.

Reports have shown that the U.S. economy has been improving recently, and the latest on Thursday showed encouraging signs for the housing and labor markets. The fewest number of workers sought unemployment claims last week in 43 years, a sign that corporate layoffs are subsiding.

Overnight US Market :Dow closed -63 points (Intraday was down 180 pts )

Stocks dipped Thursday but finished off early, sharp lows, giving back  gains from the day before.

The Nasdaq composite, off 0.3%, snapped a seven-day winning streak and posted its first loss of 2017.

Losing as much as 180 points earlier, the Dow settled for a 63-point loss, 0.3% lower, to 19,891 even. The S&P 500 slipped 0.2%.

Financial, industrial and technology stocks were down the most, while phone company and real estate stocks edged higher. Investors were turning their focus to the next wave of corporate earnings reports in the weeks ahead.

Banks and other financial companies were down as the yield on the 10-year Treasury note fell. Lower yields mean lower interest rates on loans and lower profits for banks. The yield on the 10-year Treasury slipped to 2.35% from 2.37% late Wednesday.

Benchmark crude oil finished up 76 cents, or 1.5%, to $53.01 a barrel in New York.

In Europe, Germany’s DAX ended down 1.1%, while France’s CAC 40 lost 0.5% despite new data showing eurozone industrial production jumped 1.5% in November. Britain’s FTSE 100 ended flat. In Asia, Japan’s benchmark Nikkei 225 dropped 1.2%. Hong Kong’s Hang Seng dipped 0.5%, while Australia’s S&P/ASX 200 slipped 0.1%. South Korea’s Kospi bucked the trend to rise 0.6%.

Overnight US Market :Dow closed +99 points. 46 pts short to cross 20k;Nasdaq at new high

Stocks ended higher Wednesday — and the super-hot Nasdaq notched another new high — in a volatile session that saw sharp swings after President-elect Donald Trump met with the press in a news conference for the first time in six months.

The Dow Jones industrial average climbed 99 points, or 0.5% to 19,954.28, while the S&P 500 ended up 0.3% to about a point and half shy of its record closing high of 2276.98.

It was the seventh winning session in a row for the Nasdaq composite, which gained 0.2%. It notched a new closing high of 5563.65, a dozen points above the previous record set the day before.

Health care stocks got hit after Trump criticized the industry moving production overseas as well as the bidding process for drugs. Energy stocks continued their strength as oil prices headed higher.

The health care sector was the biggest loser among the S&P 500 sectors. Trump said the government has to create new bidding procedures for the pharmaceutical drug industry “because they’re getting away with murder.” The remarks sent the S&P health care sector down 1.7%. Several pharmaceutical companies slumped, with Endo International (ENDP) falling 9%, the biggest decliner in the S&P 500. Perrigo (PRGO) lost 7% and Mallinckrodt (MNK) tumbled 7%.

Energy stocks were the biggest winners as oil prices jumped. Benchmark U.S. crude rose rose $1.43, or 2.8%, to $52.25 a barrel in electronic trading. Shares of Exxon Mobil rose 0.8%.

Bond prices rose after Trump’s news conference, sending the yield on the 10-year Treasury note down to 2.37% from 2.38% Tuesday.

Overnight US Market :Dow closed -43 points.

Stocks ended mixed Thursday as retailers dominated the news with Macy’s and Kohl’s both plunging following weak holiday-season reports that led the chains to cut their profit forecasts.

Still, the Nasdaq composite’s modest gain of 11 points, or 0.2%, was enough to notch a new all-time high. Settling at at 5487.94, it topped the old record by half a point.

The Dow Jones industrial average finished down 43 points, a 0.2% decline to 19,899.29. Losing 0.1% was the S&P 500, which settled at 2269 even.

nvestors were also focusing on upcoming U.S. jobs data following the publication of the minutes to the Federal Reserve’s last board meeting.

Private U.S. companies added 153,000 jobs in December, according to payroll processor ADP. That total was a bit lower than analysts expected and slightly slower than the pace of hiring for the rest of 2016. The government will issue its own hiring report on Friday.