S&P 500, DJIA Finish at Record Highs

S&P 500, DJIA Finish at Record Highs

$DIA, $SPY, $QQQ, $RUTX, $VXX

The S&P 500 (+0.2%) and DJIA (+0.9%) closed at record highs Thursday on rate-cut optimism.

The DJIA hit the 27,000 mark for the 1st time, but the NAS Comp (-0.1%) and Russell 2000 (-0.5%) lagged. 

Despite the record highs, Thursday’s session was ranged and the volume light.

The S&P 500 challenged its intra-day high at 3003 from Wednesday, which is also its all-time high, but was unable to surpass it as the market appeared tired after a big stretch of gainers.

Thursday’s leaders included most of the S&P 500 cyclical sectors.

The industrials (+0.7%), financials (+0.6%), and materials (+0.4%) sectors finished atop the standings. The real estate sector (-1.2%) was the day’s laggard amid higher US Treasury yields.

The markets were higher based on Fed Chairman Powell’s testimony and him confirming what the futures markets have been telling us for a whole month: That we were going to get a rate cut.

Thursday, the major US stock market indexes finished at: DJIA+227.88 at 27088.17, NAS Comp -6.49 at 8196.04, S&P 500 +6.84 at 2999.91

Volume: Trade on the NYSE came in lite at 685-M/shares exchanged

  • NAS Comp +23.5% YTD
  • S&P 500 +19.7% YTD
  • DJIA +16.1% YTD
  • Russell 2000 +15.5% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here.

Stay tuned…

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.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :  
CONNECT WITH