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.