Tech Sell-Off Drags Market Lower

After a disappointing November jobs report, the stock market dropped on Friday as the market wrapped up a roller-coaster week driven by COVID Omicron variant concerns. The most significant sector hit was the tech sector, with the NASDAQ losing -1.92% to finish the day at 15,085.47. The DOW fell 59.71 points or -0.17% to close at 34,580.08, and the S&P 500 dropped -0.84% to end at 4,538.43.

Despite a 600 point rebound on Thursday, the DOW dropped -0.91% for the week marking four straight weeks of losses. The S&P 500 fell -1.22% for its second straight week of losses, and the NASDAQ capped off the week, losing -2.62%, marking its second straight week of losses. Continue reading "Tech Sell-Off Drags Market Lower"

Stock Market Stumbles To The Finish

The stock market stumbled into the week's finish on Friday, with The DOW falling 268.97 points or -0.75%, to end the week at 35,879.09. The S&P 500 dropped -0.14% to 4,717.75, and the NASDAQ advanced +0.40% to close at 16,121.12 on Friday.

On a weekly level, two of the three major indexes finished in the green. The NASDAQ led the way with a weekly gain of +1.2%, and the S&P 500 added +0.32%. The DOW, however, suffered its second straight week of losses losing -1.38%. Continue reading "Stock Market Stumbles To The Finish"

5 Week Winning Streak Ends

The DOW rose 179.08 points or +0.50%, to close at 36,100.31. The S&P 500 gained +0.72% at close at 4,682.85, and the NASDAQ rallied, gaining +1.0% or 156.68 points to end the day at 15,860.96.

However, all three major indexes closed the week lower after the hottest inflation report in 30 years. The DOW fell -0.6%, the S&P 500 dipped -0.3%, and the NASDAQ eased -0.7% on the week. Despite the week's losses, the three major indexes are still within striking distance of their record highs. The S&P 500 is up more than 24% in 2021. Continue reading "5 Week Winning Streak Ends"

Indexes Set Records On Strong Jobs Report

The stock market set another round of record closes on Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery.

Pfizer announced a significant development regarding its easy-to-administer Covid-19 pill, which fueled hope for a smoother reopening, sending shares of airlines and cruise line operators soaring.

The DOW rose 203.72 points or +0.56%, to close at 36,327.95. The S&P 500 gained +0.374% to 4,697.53 for its seventh straight positive day, and the NASDAQ edged up +0.20% to 15,971.59. All three major averages reached their respective record-closing highs.

All three major indexes posted their fifth positive week in a row and finished solidly higher for the month. On a weekly level, the DOW gained +1.42%, the S&P 500 +2.00%, and the NASDAQ rounded out the week up +3.05%. Continue reading "Indexes Set Records On Strong Jobs Report"

Stocks Notch Best Month Of The Year

The stock market set another round of record closes on Friday as Wall Street looked past disappointing results from major companies to notch its best month of the year.

The S&P 500 rose +0.19% to close at 4,605.38, and the DOW added 89 points or +0.25% to end at 35,819.56. The NASDAQ rose +0.33% to close at 15,498.39. All three of those closes are record highs, and the S&P 500 and NASDAQ had their best months since November of 2020.

All three major indexes posted their fourth positive week in a row and finished solidly higher for the month. On a weekly level, the DOW gained +.40%, the S&P 500 +1.33%, and the NASDAQ rounded out the week up +2.71%. Continue reading "Stocks Notch Best Month Of The Year"