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Tuesday, September 21, 2021

DJIA +258 pts on No Market Moving News


US stocks finished on the highs Wednesday in a broad-based advance. The S&P 500 increased 0.7%, overcoming a negative start that was attributed to declining Treasury yields and finished near session highs. 

The DJIA increased 1.0%, the NAS Comp increased 0.4%, and the Russell 2000 finished +1.2%. 

Wednesday’s session did not include any market-moving news or notable economic data, and it was quiet on the US-China trade front. The action in the Treasuries signaled there are growth questions.

Events to keep an eye on this week are:

  • The 2nd reading of Q-2 US GDP Thursday is expected to refine estimates of slightly lower economic growth.
  • Bank of Korea policy decision and briefing is Friday.
  • Eurozone CPI data for August is due Friday too

We are a headline or a Tweet away from triumph or tragedy almost every single day right now,” said the chief market strategist at National Securities Corp.“We are really on a knife’s edge. And that is what makes trading really difficult.”

Wednesday, the major US stock market indexes finished at: DJIA +258.20 at 26036.08, NAS Comp +29.94 at 7856.91, S&P 500 +18.78 at 2887.94

Volume on the NYSE came in at 706-M/shares exchanged

  • NAS Comp +18.4% YTD
  • S&P 500 +15.2% YTD
  • DJIA +11.6% YTD
  • Russell 2000 +9.2% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bearish with a slight Bullish bias in here.

Stay tuned…

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