The final day of the holiday-shortened trading week was a directionless one for Wall Street
. With the major U.S. equity indexes either at or near record highs in recent days, today’s trading session saw some early selective profit taking, though the selling was always well contained, and left the door open for a partial late-day rally, which took place in the final hour. At the closing bell, the Dow Jones Industrial Average, the NASDAQ, and the broader S&P 500 Index, which were all lower for most of the session, were able to rally into positive territory, albeit just modestly.
Thursday’s market breadth was roughly even, with widespread selling
amongst mid- and small-cap equities offsetting
an afternoon rally
principally by the Dow Jones Industrial Average. After solid openings, and subsequent pullbacks into the red, the Dow and, to a lesser degree, the S&P 500 strengthened as the day wore on. The former added 35 points on its way to setting yet another all-time closing high, while the latter salvaged a modest gain by the closing bell. The NASDAQ, meanwhile, was unable to turn its fortunes around, and saw the end of its fifteen-day streak of gains.
It was harder to find buyers on Wall Street today
as stocks broadly fell
, although the Dow Jones Industrial Average was an exception, turning in a modest 33-point gain. Elsewhere, though, the tone was tilted to the downside, with the NASDAQ easing five points and the broader S&P 500 pulling back a few points. The market’s tone was perhaps most evident in the poor advance-decline lines apparent on both the New York Stock Exchange and the NASDAQ, where losers topped winners by respective 4-to-3 and 3-to-2 margins.
The major U.S. indexes climbed
to record highs
on Tuesday, the first day of the holiday-shortened trading week
. A mostly positive earnings season and improving economic data have buoyed this latest chapter of the Trump rally, which assumes the President’s business-friendly initiatives will lead to greater prosperity in the corporate world. The S&P 500, Dow Jones Industrial Average, and NASDAQ each set new high water marks a little over an hour into trading, and while the gains were slightly reduced around lunchtime in New York, all three regained some momentum as the closing bell neared.
finished a record-setting week mixed, with modest gains on the major averages contrasted by more declining than rising issues on the Big Board, although more stocks rose than fell on the NASDAQ. After being down all day, the Dow Jones Industrial Average turned slightly positive right at the close, up four points; the S&P was also higher by about four points; and the NASDAQ rose 24 points.
Equities retreated earlier today
, but managed to recover some ground in the afternoon
. At the close of trading, the Dow Jones Industrial Average was up eight points, while the broader S&P 500 Index was off two points, and the NASDAQ was lower by five points. Market breadth was still negative, as losers were ahead of winners on the NYSE.
The U.S. stock market
moved higher this morning
, and managed to build on these early gains
through the afternoon. At the close of the session, the Dow Jones Industrial Average was up 105 points; the broader S&P 500 Index was ahead 12 points; and the NASDAQ was higher by 37 points. Advancers outpaced decliners by a healthy margin on the NYSE, suggesting some broad-based buying. From a sector view, the healthcare and consumer issues displayed leadership today, while the energy and utility stocks were areas of weakness.
After taking a breather for most of the morning hours, the major U.S. equity indexes rebounded somewhat in the second part of the day. The afternoon upturn can be attributed to the market’s reaction to Federal Reserve Chair Janet Yellen’s Congressional testimony, as well as some positive contributions from the earnings front. Each of the three major indexes set new all-time highs around 2:00 PM EST in New York, but mixed trading amongst the small- and mid-cap equities kept market breadth roughly even for most of the day. Then, as the closing bell neared, the Dow climbed to a record level. Strength from its banking components and Apple (AAPL) were the primary drivers.
this morning, advanced further
in the early afternoon, before easing slightly
at the end of the session. At the close of trading, the Dow Jones Industrial Average was ahead roughly 143 points; the broader S&P 500 Index was up 12 points; and the NASDAQ was higher by nearly 30 points.
After opening higher
, the majority of U.S. stocks extended their daily gains
through Friday afternoon
. The bullish momentum was driven by more positivity on the earnings
front, as well as continued expectations that the Trump Administration’s policies
will usher in a period of accelerated economic growth.