UGLY close for the major indices
The stocks took off soon after the FOMC meeting minutes, but things started to turn around for equities as yields moved higher. The 10 year yield got up to 2.9537% at the high (high for the year) and that helped to spook the stocks to the downside.
At the closing bell, the major indices had reversed hard and are closing at/near the lows for the day.
- The S&P is ending down -14.93 points at 2701.33. The high after the FOMC minutes reached 2747.75. That is a 46 point turnaround. Moreover, the S&P is closing jsut below its 100 hour MA at 2702.76.
- The Nasdaq is closing down -16.08 points at 7218.22 after trading has high as 7338.63. The index is trading back below its 200 hour MA at 7241.87 after trading above for most of the day.
- The Dow is closing down -166.97 points at 24797.78 after trading as high as 25267. That is a swing of 470 points from the high to the low.
Not a good ending to the US stock market.
The overachievers today included:
- Twitter. +1.61%
- Delta air +1.31%
- Office Depot, +1.31%
- Chipotle, +1.09%
- Facebook +1.08%
- Amazon was 0.99%
- McDonald's +0.94%
- Netflix was 0.89%
- Citigroup +0.72%
Some underachievers today included:
- Nvidia, -3.04%
- AMD, -2.5%
- Walmart, -2.67%
- Home Depot, -2.02%
- Square, -1.85%
- MasterCard, -1.71%
- Cisco Systems, -1.70%
- Chevron, -1.67%
- Deere and Company, -1.60%
- General Electric, -1.49%
- Coca-Cola, -1.48%
