US Stock Indexes Finish Close To The Highs, With Tech Leading The Way
DJIA +0.5% YTD , S&P 500 +5.3% YTD, NAS 100 +6.2% YTD, Russell 2000 -1.9% YTD
DJIA +91.26 at 16651.80, NAS 100 +44.87 at 4434.09, S&P 500 +12.97 at 1946.72
The US stock market finished near the higsh, the NAS 100 advanced 1.0%, the S&P 500 added 0.7%, 10 of 10 sectors finished in the Green.
Healthcare was supported by biotechnology.
The iShares Nasdaq Biotechnology (NYSEArca:IBB) 257.13, +5.47 bounced off its 50-Day MA for a 2.2% gainer, notching its best close since late July, helping to drive the NAS rally.
Apple (NASDAQ:AAPL) 97.24, +1.27, Facebook (NASDAQ:FB) 73.77, +0.94), and Google (NASDAQ:GOOG) 584.56, +12.44 lent support to the NAS.
The PHLX Semiconductor Index added 0.9% to extend its weekly gainer to 1.8%.
Of the 30 index components, 26 settled higher, while Cree (NASDAQ:CREE) 44.82, -4.39 fell 8.9% following its one-cent beat and below-consensus guidance for the upcoming Quarter.
The industrials got strength from defense contractors, transport stocks ended in line with the broad market.
The PHLX Defense Index rose 1.4% with Raytheon (NYSE:RTN) 93.64, +2.26 lead the way. The Dow Jones Transportation Average settled higher by 0.7%.
Retail stocks underperformed following a disappointing Retail Sales report for July and worse than expected earnings from Macy’s (NYSE:M) 56.47, -3.29. The stock fell 5.5%, the SPDR S&P Retail ETF (NYSEArca:XRT 84.52), -0.54 lost 0.6%.
On the countercyclical side
Consumer staples (+0.3%), utilities (+0.2%), and telecom services (+0.1%) all finished near flat, healthcare sector provided the leadership.
The US Treasury market.
The 10-yr T-Note rose ending near its high. The benchmark yield slipped 3 bpts to 2.42%.
- Retail sales showed no growth in July following an unrevised 0.2% increase in June, the consensus expected an increase of 0.3%
- Business Inventories increased 0.4% in June after increasing an unrevised 0.5% in May, which was in line with the consensus.
- The weekly MBA Mortgage Index fell 2.7% to follow last week’s 1.6% increase
Thursday, weekly initial claims (consensus 305-K) and export/import prices for July will be reported at 8:30a ECT.
Latest posts by Paul Ebeling (see all)
- Friday’s Technical Analysis: WTI Crude Oil - October 31, 2014
- Friday’s Technical Analysis: Spot Gold - October 31, 2014
- Friday’s Technical Analysis: DJIA (.DJI) - October 31, 2014
- Friday’s Technical Analysis: US Coffee - October 31, 2014
- Forex Daily Technical Analysis: USD, EUR, JPY, GBP - October 31, 2014
Friday's Technical Analysis: DJIA (.DJI) US30 Index (DJIA) CFD closed ... read more
Forex Daily Technical Analysis: USD, EUR, JPY, GBP The EUR/USD ... read more
Friday's Technical Analysis: Spot Gold Spot Gold closed lower Thursday. ... read more