Nasdaq up 0.30% but S&P back near unchanged. Dow down
The weaker US ISM data, has the US major indices back tracking after a solid start.
The S&P is up about 1.00 points or +0.04%. It was up about 5 points at the high.
The Nasdaq is up about 18 points now or +0.30%. It was up about 26 points at the peak
The Dow is the laggard at -15 points or -0.07%.
This week there are a number of key earnings:
- Monday: AMD, Cardinal Health, Tenet Healthcare
- Tuesday: Apple, Merck, Pfiizer, Altria, Gilead Science, Mastercard
- Wednesday: Facebook, Tesla, Clorox, Fitbit, Sprint, Time Warner, Yum! Brands, Cheesecake Factory
- Thursday: Herbalife, Motorola, Viacom, Shake Shack, Zillow, Zynga, Dunkin Brands, CBS Corp.
- Friday: Berkshire Hathaway, Cigna, MSG Network
The tech heavy Nasdaq moved above the 6000 level last week. With Apple and Facebook, earnings this week, the tech sector will be a focus. Both stocks are making new highs today. Lots of good being priced in. The daily chart below has a topside trend line that cuts across around the 6109 level. With price trading at 6067, we are still a ways from the level, but on a continued rally, that would be an area to eye for potential profit taking.