NASDAQ tumbles. Dow higher but gives up most of its gains

Technical Analysis

Author: Greg Michalowski | sp

Dow is up 396 points at session high

The US stock markets rolled over into the close with the Nasdaq leading the declines.  The S&P winning streak of 3 days was snapped. The Dow closed higher but gave up nearly all of its close to 400 point gain at the session highs.

The final numbers are showing:
  • S&P index -15.71 points or -0.46% at 3385.49
  • NASDAQ index -139.85 points or -1.25% at 11050.40
  • Dow up 36.78 points or 0.13% at 28032.38.
The big news today – in stocks that is – was a couple of IPOs. 

JFrog was priced at $44 a share and closed at $64.79 after trading as high as $77.
The other was snowflake which was priced at $120 a share and closed at $253.93. It traded as high as $319. Snowflake was the largest ever software IPO.
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