The US stocks are trading near highs after some declines yesterday. The correction was one day – at least for the S&P and the Nasdaq. The Dow industrial Average rose yesterday as did the small-cap Russell 2000.
Today, all the major indices are enjoying strong gains.
For the S&P, it erased its -49.37 or -0.88% decline yesterday. It is currently up 70.83 points or 1.27% at 5655.26. A close there, would be good enough for a new record. The high close from Wednesday was at 5633.92.For the Dow industrial average, it is the following up gains of 429 points on Wednesday, 32 points on Thursday with a gain of 467 points currently or 1.17%. That has the price trading at 40,220. The all-time high close going back to May 17 was at 40,003.60. Today the index is on pace for a record close.
Meanwhile, the NASDAQ index is the best performer with a gain of 1.39% or 254 points at 18538.50. However, yesterday it plunged 364.04 points. So despite the large gain (and the largest percentage gain since June 12), the index is on pace to close below its all-time record reached on Wednesday at 18647.45.
Nevertheless, the gains today in all the indices are impressive, WITH the broader market participating including the Dow 30.
By the way:
The small-cap Russell 2000 is up 26.24 or 1.24% after surging 3.57% yesterday. For the week the index is up 6.14%
For the week in the US:
Dow is up 2.09%S&P is up 1.51%Nasdaq is up 1.01%
What about Europe this week, indices were looking set to close little changed or lower coming into the day for some of the indices. However, the major European indices all closed higher on the day and that solidified gains for the week as well.
German DAX, +1.15% today and up 1.48% for the weekFrance CAC, +1.27% for the day and +0.63% for the weekUK FTSE 100, +0.36% for the day and +0.60% for the weekSpain’s Ibex, +0.72% for the day and +2.06% for the weekItaly’s FTSE MIB +0.76% for the day and +1.74% for the week
This article was written by Greg Michalowski at www.forexlive.com.
