The stock market
is putting in a mixed showing
this morning, as traders prepare for the Thanksgiving holiday
. As we pass noon in New York, the Dow Jones Industrial Average is down 68 points; the broader S&P 500 Index is off three points; while the technology heavy NASDAQ is ahead nominally.
Led by a surge in technology stocks, the U.S. stock market pressed higher on Tuesday. Each of the major large-cap indexes set new intraday trading highs, with the NASDAQ 100 posting the biggest single-day advance. After a two-week streak of profit taking, this holiday-shortened week’s optimism has been driven a strong corporate earnings season, solid economic indicators, and a cautiously affirmative belief that tax reform will be close to implementation by the end of the year.
The stock market
managed to make some progress today
, as we commenced a new week on Wall Street. At the close of trading, the Dow Jones Industrial Average was ahead roughly 72 points; the broader S&P 500 Index was up three points; and the technology heavy NASDAQ was higher by nearly eight points. Market breadth was positive, with winners ahead of losers on the NYSE.
Though lingering concern about tax reform led to a mostly negative day for the large-cap indexes, market breadth favored the bulls on Friday
. The Russell 2000 added roughly 7 points during the session, while advancing shares outnumbered declining issues by a 1.8to-1.0 margin. Strength was found mostly in the cyclical consumer goods, basic materials, and energy sectors, which helped to offset selling in the utility and noncyclical sectors.
The stock market moved strongly higher this morning
, and managed to maintain these gains through the afternoon
. Of note, a batch of solid corporate profit reports likely helped fuel today’s advance. At the end of trading, the Dow Jones Industrial Average was up 187 points; the broader S&P 500 Index was ahead 21 points; and the NASDAQ was higher by 87 points.
U.S. equities struggled on Wednesday
, with declining shares outnumbering advancing issues from bell to bell. The bull market continues to face some turbulence as a decline in oil prices and ongoing uncertainty regarding tax reform conspired to bring the large-cap indexes lower during the session. There were notable selloffs in the non-cyclical consumer goods, energy, technology, and utilities sectors
, while only telecommunications stocks were able to muster a meaningful aggregate advance.
Stocks got off to a weak start in the morning, and were unable to stage a meaningful recovery in the afternoon. At the end of trading, the major averages were stuck in negative territory. The Dow Jones Industrial Average was down 30 points; the broader S&P 500 Index was off six points; and the NASDAQ was lower by almost 20 points. Market breadth showed a negative bias to the session, with losers outpacing winners on the NYSE. Essentially, all of the major stock sectors lost ground. There was notable weakness in the energy and basic materials issues, accompanied by falling crude oil prices.
The equity markets opened lower
this morning, but managed to firm up in the afternoon
. At the end of the session, the major averages remained in positive territory
. The Dow Jones Industrial Average was ahead roughly 17 points; the broader S&P 500 Index was up three points; and the NASDAQ was higher by seven points. Market breadth was slightly negative, with decliners modestly ahead of advancers on the NYSE. Nonetheless, many equity sectors still managed to make some progress, with respectable gains in the utility and consumer issues. In contrast, the energy and telecom names declined sharply today.
Friday’s trading was mixed-to-negative, with the major indexes
falling sharply in the morning hours before paring losses as the session wore on. With a dearth of economic releases on the docket, traders were mostly focused on the ongoing earnings season and, more notably, developments from Washington as it relates to tax reform. This led to a slightly bearish tilt to market breadth, dragging large-cap equities lower despite a minor bounce back in smaller issues. Accordingly, while the Russell 2000
surged higher, none of the major indexes were able to advance meaningfully past their breakeven lines.
Stocks declined considerably this morning
and early afternoon
, but managed to recover more than half its lost ground by the close
. At the end of the session, the Dow Jones Industrial Average was down 101 points; the broader S&P 500 Index was off 10 points; and the NASDAQ was lower by 39 points.