The stock market
opened lower this morning, recovered some ground around noon, but deteriorated as the session progressed. At the end of trading, the Dow Jones Industrial Average
was down 99 points; the broader S&P 500 Index
was off 20 points; and the NASDAQ
was lower by 101 points. Market breadth showed a negative bias, as decliners easily outpaced advancers on the NYSE. The technology sector weighed heavily on the market. However, it should be noted that this group of volatile stocks may have been overdue for some profit taking. In addition, the healthcare and utility issues were quite weak. In contrast, the energy and financial names managed to make positive strides.
The equity market
advanced earlier this morning, but was unable to extend its gains.
At the end of trading, the Dow Jones Industrial Average was ahead 15 points; the S&P 500 Index was up nominally; and the NASDAQ was lower by 18 points. Meanwhile, market breadth was still favorable, with winners ahead of losers on the NYSE. Further, most of the major equity groups managed to make some progress. The consumer, financial, and utility issues made respectable strides, while the technology and healthcare names retreated.
generally moved higher on Friday, with advancing issues roughly doubling the number of declining shares. The major factors driving the bullish efforts were the solid May numbers for new home sales released by the Commerce Department, as well as positive comments from a regional Fed President who suggested the central bank’s near-term tightening policy could be eased in the future. Consensus expectations continue to point toward one more rate hike in 2017, likely during the December summit.
The stock market
got off to a tentative start
, made considerable progress for much of the afternoon
, but weakened
in the final hour of the session.
At the end of the day, the Dow Jones Industrial Average was down 13 points
; the broader S&P 500 Index was off slightly
; while the NASDAQ clung to a modest gain
The stock market
delivered a highly fragmented performance today
, as investors rotated out of energy names and into technology issues. At the close of trading, the Dow Jones Industrial Average was down 57 points. The broader S&P 500 Index was also off slightly. However, the NASDAQ managed to advance 46 points, which was impressive. Market breadth showed a divided session, as decliners outpaced advancers on the NYSE. Further, many market sectors retreated with sizable losses in the energy and financial names. Of note, the price of crude oil moved lower today, even though a recent report from the EIA showed inventories had declined a bit over the past week.
U.S. stocks retreated from the highs set on Monday, with each of the three major indexes trading near their intraday lows as the closing bell approached. The day-long selloff can be mostly attributed to weakness in the energy sector, where cautious optimism that OPEC and other producers would inject some normalcy into the market has all but faded. Lingering doubts stemming from lackluster releases from the business beat in the past week were additional headwinds likely bolstering the bears’ campaign today. Disappointing metrics on retail, industrial production, housing starts and others have added credence to the growing consensus that 2.5% GDP growth in the quarter is more likely than the 3% estimate from a few months ago. All but one of the ten major market sectors closed in the red today, while the NASDAQ registered the widest loss, 51 points (0.82%).
The U.S. equity markets opened today’s session to the upside,
and largely added to their gains
as the day wore on. At the end of trading day, the Dow Jones Industrial Average was ahead by nearly 145 points
, or 0.68 percentage points. The S&P 500 Index did slightly better
, with its 20-point advance
lifting the index by over three quarters of a percentage point. Both indexes closed at new all-time highs.
However, the NASDAQ was the winner of the day
, as tech stocks regained more of the ground they lost over the last couple of weeks. Up by 87 points, the composite came out ahead by 1.4%.
The equity market moved lower this morning, but improved somewhat as the day progressed. At the end of trading, the Dow Jones Industrial Average was ahead about 25 points; the S&P 500 Index was close to breakeven; and the NASDAQ was lower by 14 points. Market breadth showed a mixed session, with winners about even with losers on the NYSE. The major equity groups were divided
. The energy stocks and utilities logged solid gains, while the consumer names retreated.
The stock market opened lower
this morning, but managed to partially pare
in the afternoon. By the end of the day, the Dow Jones Industrial Average was down about 15 points; the broader S&P 500 Index was off five points; and the NASDAQ was lower by 29 points. Market breadth was still quite negative, with decliners well ahead of advancers on the NYSE.
Stocks were quiet
for most of the day ahead of a Federal Reserve decision on interest rates
at 2:00 PM EDT, but then reacted notably
. After the Fed largely met expectations, markets initially rose slightly, but then diverged. There was renewed selling in technology stocks, although the Dow Jones Industrial Average strengthened into the close. When all was said and done, the Dow was up 46 points; the NASDAQ lost 25 points; and the S&P 500 dropped a couple of points.
Market breadth was tilted to the downside, although less so on the New York Stock Exchange than the NASDAQ.