Dow down. Nasdaq is up
The Dow has been up three last for days and is 81 points shy of the record close.
The Nasdaq index has been down for the past two days. but only marginally (about -0.06% on each day). The NASDAQ is still around 3.0% from its all-time high.
The S&P index is up four of the last five trading days.
For today, the futures are implying a mixed opening with the Dow stocks marginally lower by about 20 points (it rose 16 points yesterday). The Nasdaq is up around 110 points (it fell -9.5 points yesterday). The S&P is up around 10 points (after rising 6 points yesterday).
Initial claims data was confusing in that the other employment trends seem to moving higher. For the claims, the number was a disappointment for the 2nd consecutive day. The claims rose to 744K from 728K last week (revised higher from 719K.
Fed chair Powell is scheduled to speak at the IMF conference on the global economy. He has been very consistent in his talking points that it is unlikely to expect any major news (except that the talking points are reiterated).
