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US Stock Indexes Finished Flat On Light Volume

Posted by: : Paul EbelingPosted on: May 21, 2015 US Stock Indexes Finished Flat On Light Volume

US Stock Indexes Finished Flat On Light Volume


DJIA +2.6% YTD, NAS 100 +7.5% YTD, S&P 500 +3.5% YTD, Russell 2000 +4.3% YTD

DJIA +0.34 at 18285.74, NAS 100 +19.05 at 5090.79, S&P 500 +4.97 at 2130.81

Volume: Trade Thursday was light with less than 700-M/shares changing hands on the NYSE

The US major stock market indexes saw a light trading day again. The S&P 500 added 0.2% for a new record high while the NAS 100 (+0.4%) out performed.

There was a rally in US Treasuries, suggesting increased expectations that the Fed will stay Dovish stance. The 10-yr yield -6 bps to 2.19%

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Thursday, 5 of 6 growth-sensitive stock sectors posted gainers; the financial stock sector (-0.2%) fell on the cyclical side. The stock sector remains higher by 0.6% on the week Vs a 0.4% increase for the S&P 500.

The energy stock sector (+0.9%) finished ahead of other cyclical sectors with help from Crude Oil, which rose 2.9% to 60.70 bbl. The energy component spiked after the US Energy Information Administration’s storage report revealed the 3rd straight weekly gainer.

The industrial stock sector (+0.5%) received support from transport stocks. The Dow Jones Transportation Average rebounded from recent under performance, climbing 0.6%, but the bellwether complex is down 1.5% on the week.

The consumer discretionary stock sector (+0.4%) rallied with help from retailers after Best Buy (NYSE:BBY) 35.11, +1.33, and Williams-Sonoma (NYSE:WSM) 78.62, +0.73 reported better than expected results. The 2 gained 3.9% and 0.9%, respectively. SPDR S&P Retail ETF (NYSEArca:XRT) 99.54, +0.54, ot + 0.6%.

The countercyclicals

The telecom services sector (+0.7%) saw strength during the day while consumer staples (+0.2%), healthcare (Unch), and utilities (-0.1%) ended near flat lines.

Economic data

  • The initial claims level increased to 274,000 for the week ending May 16 from an unrevised 264,000, consensus expected an increase to 270,000
  • The Leading Indicators report for April was up 0.7%, consensus expected an increase of 0.3%
  • Existing home sales for April were reported to have decreased 3.3% from March to an annualized rate of 5.04-M units, consensus expected a reading of 5.24 million
  • The Philadelphia Fed’s Business Outlook Survey dropped to 6.7 in May from 7.5 in April, consensus expected an increase to 8.0


At 8:30a EDT sees the release of the Consumer Price Index for April (consensus 0.1%).

Stay tuned…


Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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