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Fri, 26th May 2017

Anirudh Sethi Report

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Archives of “stock market index” Tag

Overnight US Market :S&P closed at Record High

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.

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.

Overnight US Market :Dow closed -41 points

S&P down -0.19%. Dow down -0.19%. Nasdaq down -0.02%

The US major stock indices are ending the session with small declines.
  • S&P was down -0.19% or -4.57 points to 2384.20. The high for the day reached 2393.68. The low for the day reached 2382.36.
  • Nasdaq was down -1.332 points or -0.02% to 6047.60. The high today reached 6074.03. The low reached 6040.707
  • The Dow fell by -40.82 points or -0.19% to 20940.51. The high today reached 20987.76. The low extended to 20926.75.
For the week, the major indices benefited from the gains from Brexit and modest follow through during the week.
  • The Nasdaq was the big winner for the week, rising by 2.32%
  • The S&P rose by 1.91%
  • The Dow rose by 1.51%.
Today is also the last day of the calendar month, and stocks are ending with gains (thanks in part, to the gains this week).
  • The Nasdaq rose by 2.30% this month
  • The S&P rose by 0.91%.
  • The Dow rose by 1.34%.
For the year (just for giggles):
  • The Nasdaq is leading the way with a 12.34% gain
  • The S&P is up 6.49% and
  • The Dow is up 5.96%.
Overall, investors in equities cannot be disappointed with the overall performance of the equity markets with 1/3 of the calendar year complete. What will the next 1/3 bring?
As posted earlier, the earnings calendar is chock-a-block with big time names that have helped propel the overall market higher including Facebook, Tesla, and Apple.

Overnight US Market :Dow closed +174 points ,S&P 500 closed up 18 points

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.  
More specifically, 
  • 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.

Overnight US Market : Down day for the major US stock indices. S&P closes below the 50 day MA

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.

China’s A-shares have better shot at MSCI index

Shanghai and Shenzhen shares have a greater chance at joining a major emerging-market stock index after recent market reforms, though a smaller pool of issues under consideration means entrance will do less than investors and China’s government would like.

MSCI of the U.S. is soliciting institutional investors’ input on whether to include A-shares, or yuan-denominated shares listed on the Chinese mainland, in its Emerging Markets Index. Citigroup gives China’s bid a 51% chance of success, in light of recent reforms.

 These odds are a good deal better than when the question was first considered in 2014. A-shares have been kept out of the mix three years running amid concerns that China’s capital markets are insufficiently open.

The so-called Qualified Foreign Institutional Investor, or QFII, scheme was one key factor. This scheme was long foreign institutions’ only option for buying A-shares. Each entity’s dealings were subject to strict quotas, and the value of remittances was capped at 20% of net assets each month. MSCI naturally refused to include shares in its index that could not be freely bought and sold, and Beijing was slow to change the system to address those concerns.

The index operator has also looked askance at Chinese listed companies’ ability to halt trading of their shares at will — an option that, at one point, roughly 50% of companies had taken. A need for prior approval to create products incorporating A-shares also left MSCI leery.

Overnight US Market :Dow closed -7 points.

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.

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.

Overnight US Market :Dow closed -238 points.(YTD is up 4.58% )

It has been 109 days since the market moved 1% either way.  All indices down over 1% today.

The US stock market hit the skids today on concerns about the Trump agenda for healthcare, taxes, regulation…you name it.
In the major indices:
  • The Nasdaq traded to new all time highs at the start of the day but ended the day down -1.83%. Ouch.
  • The S&P index fell by -1.24%. The high reached 2381.93. The low extended to 2341.90. The all time high for the S&P reached 2400.
  • The Dow fell by -1.14 points to 20667. It peaked above 21000.
All three indices are now down on the month with the :
  • S&P now down -0.83%,
  • The Dow down -0.69% and
  • The Nasdaq down -0.54%.
For the year, the indices are still higher so all is not lost.  Looking at the major indices, the:
  • Nasdaq up 7.63%
  • S&P up 4.70%
  • The Dow up 4.58%

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 :Dow closed 51 point down ,S&P down -0.33%, Nasdaq down -0.37%

S&P down -0.33%, Nasdaq down -0.37%

The US major stock indices are ending the day in the red but off low levels
  • S&P was down -7.81 points or -0.33%. The low reached about -16 points
  • Nasdaq was down -21.577 points or -0.37%. The low for it extended to around -43 points
  • The Dow ended down -51.37 points or -0.24%. The low water mark was down about -93 points.
In the US debt market today, yield were up with the longer end rising the most.
  • 2 year 1.301%, unchanged for the day
  • 5 year 2.017%, up about 1 bp
  • 10 year 2.4925%, up 1.4 bp
  • 30 year 3.098%, up 2.6 bp
Spot gold was down -$8.60 or down -0.71%
Spot silver is down -$0.20 or -1.14%

Overnight US Market :Dow Closed +303 points.S&P 500 Up 32 points

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.”