Nasdaq erases near 1% declines and closes up marginally. Dow has biggest drop since August 10

Last week, the Dow was the best performing index. The Nasdaq actually fell marginally on the week. Today, there was a rotation out of the Dow stocks and into the Nasdaq.

The Nasdaq closed only up 6.295 points at 7993.25 (up 0.08%) but the low did reached down to 7912.47, down 81 points (or about 1% on the day). That was a big reversal.

The Dow is ending down -181.45 points or -0.68% at 26562. The high reached 26709.94. The low extended to 26548.68. Last week, the Dow closed the week at a record level. Today it remained negative for the entire day. The records are over (at least for now).

The S&P moved up and down, but stayed negative for the day. Although that index did not close at a record on Friday (the Dow did), it did reach a new record close on Thursday. So it remains within shouting distance of the all-time high. Nevertheless, today did not threaten new records.

Oil stocks were big winners today on the back of oil price up over 2%:

  • Exxon Mobil rose 1.68%
  • Chevron was up 1.22%.

Other winners included:

  • Netflix up 2.33%
  • Walt Disney up 2.14%
  • Facebook up 1.52%
  • Apple up 1.44%
  • Adobe up 1.23%
  • Micron up 0.94%
  • Nvidia up 0.85%
  • Intel up 0.54%
  • Microsoft up 0.36%
  • Cisco up 0.26%

Losers included:

  • Delta fell -3.69%
  • Untied Continental -2.33%
  • Home Depot, -2.09%
  • PNC Financail -1.92%
  • Morgan Stanley -1.74%
  • P&G fell -1.79%
  • Caterpillar fell -1.52%
  • Wells Fargo -1.35%
  • Boeing -1.14%
  • Nike fell -1.48%