Dow up for the 5th day in a row
The major indices continue to move higher in early New York trading. The Dow is up for the 5th day in a row. The NASDAQ index closed above its 100 day moving average yesterday for the 1st time since March 4. The 100 day moving average is currently at 8676.36. That index continues to move higher today.
The S&P index close above its 50 day moving average yesterday. The 50 day moving average currently comes in at 8788.53. The next target is the 200 day moving average at 3006.90.
A snapshot of the major indices around 7 minutes into the opening are showing:
- S&P index up 33.09 points or 1.15% at 2911.57
- NASDAQ index up 60.156 points or 0.69% at 8790.32
- Dow industrial average up what 294 points or 1.22% at 24427.78
After the close today, Alphabet releases their earnings. Tomorrow and on Thursday, Facebook, Microsoft (on Wednesday) and Amazon and Apple (on Thursday) will follow. Those 5 stocks are the most capitalized. Having the top 5 released in the same week is only happened 2 other times in the past (see post here). In the other 2 weeks, the stock market during the week close down -3.7% and -3.9% respectively. Yesterday the major indices rose by 1.1% to 1.5%.