The DJIA Tapped at the 20,000 Mark Friday

The DJIA Tapped at the 20,000 Mark Friday

The DJIA Tapped at the 20,000 Mark Friday

$DIA, $SPY, $QQQ, $VXX

The DJIA tapped at the 20,000 mark Friday, as US stock indexes close in on all-time highs as The Trump Rally extends.

The US December jobs situation report showed that wages jumped by the largest amount in 7 years, though hiring was weaker than expected.

The US Labor Department said employers added 156,000 jobs in December, less than analysts expected. That follows a private payrolls report Thursday that also did not meet expectations. But, ehe government said hourly pay jumped 2.9% from December 2015, the biggest increase in 7 years.

Overall, US job growth has slowed from Y 2015.

US Bond prices fell.

The yield on the 10-year T-Note rose to 2.41% from 2.35%. Higher bond yields mean higher interest rates, which allow banks to make more money on lending.

Banks did better than the rest of the market Friday.

Companies that pay large dividends, including phone companies, utilities and household goods makers, lagged the broad market.

The USD rose to 116.97 JPY from 115.62 JPY after a dip Thursday. EUR slipped to $1.0542 from $1.0590.

Friday, the major US stock market indexes finished at: DJIA +64.51 at 19963.93, NAS Comp +33.12 at 5521.05, S&P 500+7.98 at 2276.98

Volume: Trade was moderate with 942.3-M/shares exchanged on the NYSE.

  • NAS Comp +2.6% YTD
  • S&P 500 +1.7% YTD
  • DJIA +1.0% YTD
  • Russell 2000 +0.6% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.40) Neutral (0.23) Bullish (0.48) Very Bullish (0.50)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.40) Bullish (0.27) Bullish (0.38) Very Bullish (0.56)

 

HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Very Bullish (0.52) Bullish (0.38) Very Bullish (0.57) Very Bullish (0.61)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Very Bearish (-0.59) Bearish (-0.48) Very Bearish (-0.73) Very Bearish (-0.56)

Have a terrific weekend.

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH