Stocks rebounded today
after two days of heavy selling pressure following the United Kingdom’s surprise vote last Thursday to leave the European Union. At the close, the Dow Jones Industrial Average was 269 points higher; the NASDAQ was up 97 points; and the broad S&P 500 gained 36. Market breadth was strongly positive
, with gainers outpacing declining issues by more than five to one on the New York Stock Exchange and by four to one on the NASDAQ.
It was another forgettable day for those long equities. Indeed, the U.S. stock market started the session deep in negative territory
—the Dow Jones Industrial Average was quickly off more than 300 points on the heels of Friday’s 610-point setback—and held a good portion of the early losses to the closing bell.
The major U.S stock market indexes plunged today in the biggest daily decline in several years, as the U.K.’s historic decision to leave the European Union roiled financial markets around the globe. Following the results of the EU referendum, British Prime Minister David Cameron put forth his resignation. Meanwhile, the unexpected result destabilized economic expectations and spurred record plunges in the pound and European bourses.
The stock market
got off to a strong start
this morning, and was able to extend its gains notably through the afternoon
. It should be noted that today, Britain decides on whether, or not, it will stay part of the European Union. For the most part, traders probably prefer that Britain remains a part of the EU, and the market seems to have figured on that outcome. It should be mentioned that should a different result come to pass, stocks may well display initial weakness. At the close of trading in New York, the Dow Jones Industrial Average was ahead 230 points; the broader S&P 500 Index was up 28 points; and the technology heavy NASDAQ was higher by 77 points.
The major U.S stock market indexes
were volatile throughout the day, fluctuating between modest gains and similar losses as investors attempted to weigh the effects of the upcoming vote that will decide whether the U.K. elects to leave the European Union. Although most market participants believe the move would add considerable uncertainty to the global economy, the most recent polls have tilted slightly in favor of an exit.
The U.S. stock market
put in a choppy
, but somewhat constructive
today. At the close of trading, the Dow Jones Industrial Average was ahead 25 points; the broader S&P 500 Index was up six points; and the technology heavy NASDAQ was higher by seven points. Market breadth was slightly positive, with advancers just ahead of decliners on the NYSE.
Stocks finished off their highs
today but still enjoyed a strong session
on word that the latest polls indicate less of a chance Great Britain
will vote to leave the European Union
. At the close, the Dow Jones Industrial Average was 130 points higher; the NASDAQ gained 37 points; and the S&P 500 pushed ahead 12 points. Market breadth affirmed the bullishness, with the advance-decline line on the Big Board showing a three-to-one margin of gaining stocks over losers. On the NASDAQ, rising stocks topped falling issues by more than two to one.
The U.S. stock market moved lower this morning
its losses considerably
in the early afternoon
, but retreated again
in the final hour of the session, particularly the NASDAQ. All told, the Dow Jones Industrial Average was down 58 points; the broader S&P 500 Index was off seven points; and the NASDAQ was lower by 45 points.
Equities moved sharply lower this morning
, but then reversed course
and headed higher through the afternoon
. At the end of the session, all the major averages had settled in positive territory
. The Dow Jones Industrial Average was ahead 93 points; the broader S&P 500 Index was up seven points; and the NASDAQ was higher by 10 points.
At the closing bell, the Dow Jones Industrial Average
, the NASDAQ
, and the S&P 500 Index
were 35, nine, and four points lower
, respectively, resulting in the fifth-straight losing session for Wall Street
. It should be noted that the spread between winning and losing issues, which was heavily in favor of the advancers for much of the day, was narrowed considerably during the aforementioned late-day selling.