Stocks recover and end higher on the day

Technical Analysis

Author: Greg Michalowski | sp

Financials remain unloved

The Dow was down around -500 points at the low. The Nasdaq moved back below the 2017 closing price at 6903 on it's way to a low at 6878.98, but rebounded to close at 7020.  Apple was under pressure early on reports that a Chinese court ruled in favor of Qualcomm for a patent infringement. However, Apple does not ship the phones in question with the software the anymore. So they were not phased by what seemed like a hurtful decision.

Apple closed the day up $1.11 up 0.66% at $169.60. The low for the day reached down to $163.33.  The low close for the year is at $155 back in early February. The high reached as high as $232 in early October.

The final numbers for the major indices:
  • S&P, up 4.64 points or 0.18% at 2637.72.  The low reached 2583.23. The high extended to 2647.51
  • Nasdaq rose 51.268 points or 0.74% at 7020.52. The low reached 6878. The high extended to 7047
  • Dow rose 34.31 points or 0.14% at 24423.26. The low reached 23881.37. The high extended to 24500.81
 Big losers included:

  • US steel, -7.1%
  • Deutsche Bank, -4.12%
  • Ford, -3.4%
  • Wells Fargo, -2.9%
  • Bank of America, -2.63%
  • Citigroup, -2.21%
  • Celgene, -2.0%
  • J.P. Morgan, -1.89%
  • PNC financial, -1.82%
  • Morgan Stanley, -1.52%
  • Exxon Mobil, -1.43%
Winners include:
  • Broadcom, +4.68%
  • Lockheed Martin, +4.56%
  • Square, +4.34%
  • Facebook, +3.22%
  • AMD, was 2.72%
  • Microsoft, +2.64%
  • Adobe, +2.56%
  • Intuit, +2.14%
  • Intel, +2.10%
  • Tesla, +2.01%
  • Twitter, +1.83%
  • Netflix, +1.72%
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