Stocks end the session lower. S&P back below 100 day MA.

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq down -0.78%

The US major stock indices are closing lower with the tech heavy Nasdaq suffering the most.

  • The S&P fell -15.51 points or -0.57% at 2693
  • The Nasdaq fell -57.182 points or -0.78% at 7238.05
  • The Dow fell -83.18 pointsro -0.34% at 24664.89
The chips stocks did not do well today as Taiwan Semiconductor Manufacturing - a key to partner to Apple and Nvidia - lower their revenue forecast for the 2nd quarter. Morgan Stanley said apples iPhone was the reason for the poor guidance.

  • Apple shares fell $5.04 or -2.83% to $172.80
  • Nvidia fell $7.33 or -3.10% to $229.04
  • Intel fell $1.39 or -2.59% to $52.22
  • Lam Research Corporation fell  $13.38 or 6.57% to $190.39
  • Micron fell $2.59 or -4.8% to $51.42
  • AMD fell $.25 or -2.41% to $10.11
  • Broadcom fell $6.73 or -2.7% to $242.86
Bank/financial stocks did well today after yields in the US would higher. They also rebounded after being under pressure lately
  • American Express rose $7.29 for 7.66% to 102.44
  • Morgan Stanley rose $1.44 or 2.7% to $54.70
  • Wells Fargo rose $1.16 or 2.3% to $51.55
  • Bank of America rose $.67 or 2.25% to $30.20
  • J.P. Morgan rose $2.41 or 2.2% to $111.73
  • Citigroup rose $1.29 or 1.87% to $70.27
Amazon also tacked on $29 or 1.9% to $1556.91. After the close yesterday Jeff Bezos announced that Amazon prime member's were greater than 100 million. That was larger than what was expected.  
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