Nasdaq up 1.74% as techs lead the way
The S&P broad index is closing at 2706.39. That is above the 100 day MA at 2700.47 but off the high for the day at 2713.34. Nevertheless, the index did close up 28.55 points or 1.07%.
The other indices were also higher:
- The Nasdaq was the big winner closing up 124.813 points or 1.74%
- The Dow was up 213.59 points ro 0.87% at 24786.63. The high reached 24858.97. The 100 day MA today comes in at 24811.40. So it failed to close above the key MA.
Some tech gains were quite impressive:
- Twitter rose 11.37% on an upgrade today
- Netflix rose 9.19% on better subscriber growth
- Amazon rose 4.32%
- Alphabet rose 3.49%
- Cisco rose 2.98%
- Nvidia rose 2.61%
- Alibaba rose 2.34%
- Facebook rose 2.32%
- Intel rose 2.18%
Banks and financials did not do well as the US yield curve continued to flatten and worries about lower earnings abound.
- Goldman fell -1.68%
- Citigroup fell -0.49%
- Wells Fargo fell -0.46%
- Morgan Stanley fell -0.28%
- JP Morgan was unchanged
Southwest airlines had an engine failure on a flight today that landed safely but resulted in the death of a passenger when a piece of the engine blew out a window. The stock fell -1.13% on the day.
