Major indices close higher. The NASDAQ closes at a new record high again

Technical Analysis

Author: Greg Michalowski | sp

Late day rally takes the indices to new session highs

the major indices rallied into the close and as a result are closing near/at their highs for the day. The Dow industrial average led the way today with a 0.62% gain. The S&P index and NASDAQ index each closed up around 0.35%. 

  • The NASDAQ closed at yet another new record high and have been up for 5 consecutive days. For the year the NASDAQ is up 21.8%
  • The S&P closes lesson 3% from the all-time high
  • The S&P index and Dow industrial average have now been up for 3 consecutive days

The final numbers are showing:
  • S&P index rose 11.9 points or 0.36% at 3306.51. The close was just off the session highs at 3306.84. The low reached 3286.37
  • NASDAQ index rose 38.37 points or 0.35% at 10941.16. The high price reached 10941.90. The low extended to 10852.89
  • Dow industrial average rose 164.07 points or 0.62% at 26828.42. It's high price reached 26832.72. The low price extended to 26597.82
Although there is no coronavirus deal, just before the close Senate Majority Leader Mitch McConnell said he could support an extension of the US$600 unemployment benefit it Trump supports it.

After the close Disney reported adjusted earnings-per-share of $0.08 vs. expectations of $-0.64. The revenues however came in light at $11.78 billion vs. expectations of $12.39 billion. Disney plus subscribers told 57.5 million vs. expectations of 59.4 million. Disney shares initially move lower but are now trading up 2.46% $120.18.
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