The major US indices had an up and down trading day. The major indices are closing lower on the day. The markets were influenced by profit taking after the run higher last week that saw the major indices up greater than 6%. Admittedly, those oversized gains came after 7 straight weeks of declines for the S&P and Nasdaq and 8 straight weeks for the Dow. A gain was due in an oversold market.

This week will be challenged by the run up to the US jobs report on Friday. A lot of times, traders/investors want to see what that story tells.

What is more relevant currently is weaker data is better as it has the benefit of potentially slowing the Fed hikes, and with a little luck, slowing the tightness in the economy that is leading to higher inflation, and tighter employment.

The Dow closed lower for the first time after 6 straight days of gains. The Nasdaq and S&P snapped 3 days of gains.

The final number are showing:

  • Dow fell -222.84 points or -0.67% at 32990.11
  • S&P index fell 26.07 points or -0.63% at 4132.16
  • NASDAQ index fell -49.73 points or -0.41% 12081.40
  • Russell 2000 fell 23.85 points or -1.26% at 1864.04

Although there was ups and downs, the downside was the more dominant. At session highs:

  • Dow industrial average was up 0.08%.
  • S&P index was up +0.26%
  • NASDAQ was up +0.49%

Some of the big winners today included:

  • Nio, +5.19%
  • Amazon +4.4%
  • Tencent, +3.6%
  • Alibaba, +2.8%
  • Qualcomm, +2.48%
  • FedEx, +2.23%
  • Shopify, +1.53%

In the Dow 30, gainers include:

  • Nike, +2.75%
  • Walt Disney +0.97%
  • J.P. Morgan +0.78%
  • Travelers +0.74%
  • Amgen +0.58%

Some big losers today included:

  • Snap, -9.37%
  • GameStop, -9.26%
  • Chewy, -8.52%
  • Beyond Meat, -7.61%
  • Bed, Bath and beyond -6.28%
  • Roblox, -6.0%

Dow 30 losers include:

  • Salesforce, -2.3%
  • Chevron, -2.01%
  • United health, -1.98%
  • Home Depot -1.82%
  • Dow -1.81%

After the close a Salesforce announced earnings:

The after-hours share price is trading up $8.86 or 5.53%