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Dow broke four-day losing streak

US stocks advanced strongly with the Dow industrial average snapping a four-day losing streak:

  • S&P has its best day since
  • S&P and NASDAQ close higher for the second day in a row
  • Dow industrial average broke four-day losing streak
  • All S&P sectors closed higher
  • NASDAQ has its best day since May 20
  • Dow industrial average has its best day since July
  • S&P has its best day since March 5 (7-month high)
  • Profits were led by banks and better PPI data
  • Initial jobless claims were also below 300K for the first time since the pandemic.

The final numbers are showing:

  • The Dow industrial average rose 534.73 points or 1.56% to 34,912.56
  • The S&P index rose 74.46 points or 1.71% to 4,438.25
  • The NASDAQ index rose 251.8 points or 1.73% to 14,823.44

Looking at the hourly chart of the NASDAQ index, it is closing just below its 200 hourly moving average at 14832.61. On the new trading day, moving above that level would be more bullish.

The S&P Index will close today above its 200 hourly moving average of 4413.70.

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