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"→
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"→
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"→
All three of the major averages finished the week higher, marking three straight weeks of gains, with the DOW being the only one to post a daily gain on Friday, hitting a record close. The DOW was able to post a weekly gain of +1.08%, while the S&P 500 gained +1.64% and the NASDAQ gained +1.29%, triggering a new green weekly Trade Triangle, indicating it's now in a strong uptrend.
The DOW climbed 74 points or +0.21%, hitting a record close of 35,677.02, its first since August 16. The S&P 500 fell -0.11% to close at 4,544.90 a day after closing at a record, and the NASDAQ shed -0.82% to the week at 15,090.20.
On a monthly level, the S&P and DOW are up about +5%, while the NASDAQ is up +4%.
This week's other big news is Bitcoin and, more specifically, the forest Bitcoin-related ETF that started trading this week.
Bitcoin rose to an all-time high of $67,016.50 as the ProShares Bitcoin Strategy ETF (BITO), the first bitcoin-related exchange-traded fund to trade in the U.S., made its debut on Tuesday.
BITO ended the trading day up 4.65% at near $41.80 per share. As of 4:02 p.m. ET, shortly after the close of U.S. stock markets on Monday, the ETFs trading volume had reached 23.9 million shares, worth more than $1 billion based on the closing price, ranking the investment vehicle as one of the top ETF launches in history.
Earnings season is off to a better-than-expected start for the third-quarter earnings reports, which in turn gave the DOW a boost to achieve its best weekly performance since June. Friday's move higher was strong enough to trigger a new green weekly Trade Triangle for the DOW, pushing the Chart Analysis Score to +100, indicating that the DOW is now in a strong uptrend. Friday's move also propelled the S&P 500 higher, triggering a new green weekly Trade Triangle, leaving the NASDAQ as the only index of the three in a sidelines position.
The DOW gained 382.20 points or +1.09% to close at 35,294.76. The S&P 500 added +0.75% to end the day at 4,471.37, and the NASDAQ rose +0.50% to finish at 14,897.34.
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