The DOW slid 234.33 points or -0.7%, to 32,627.97 on Friday, pressured by Visa and JPMorgan. The S&P 500 dipped -0.1% to 3,913.10, closing off its lowest level of the day when it fell 0.7%. The NASDAQ gained +0.8% to 13,215.24 as investors bought the dip in tech shares which had been putting pressure on the market after continuing to selloff earlier in the week. Facebook gained +4%, while Amazon and Netflix rose about +1.5% each.
On a weekly level, The DOW and the S&P 500 lost -0.5% and -0.8%, respectively, this week, breaking their two-week win streak. The NASDAQ also declined -0.8% for the week, posting its fourth negative week in the last five.
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Crude oil and Bitcoin joined the negative week party with a loss of -6% parking back-to-back weekly losses for the first time since October 2020. Bitcoin lost -3.7% on the week, its first weekly loss in three weeks.
The U.S. Dollar and gold were able to post weekly gains of +.07% and +1%, respectively.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 3,723.34
- Dow (INDEX:DJI): 30,547.53
- NASDAQ (NASDAQ:COMP): 13,620.71
- U.S. Dollar (ICE:DX): 90.63
- Gold (NYMEX:GC.J21): 1,753.30
- Crude Oil (NYMEX:CL.H21): 64.73
- Bitcoin (BITCOIN:BITSTAMPUSD): 43,021.00
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
