US Stocks Finish Flat to Unchanged Ahead of Memorial Day Weekend

US Stocks Finish Flat to Unchanged Ahead of Memorial Day Weekend

US Stocks Finish Flat to Unchanged Ahead of Memorial Day Weekend

$DIA, $SPY, $QQQ, $VXX

US consumer sentiment according to a University of Michigan (MSI) report Friday.

  • Consumers anticipated income gains of 1.6%, down from 2.2% in April and 2% last year
  • 51% expected the jobless rate to stabilize at current 18-year lows
  • Inflation rate over next five to 10 years seen at 2.5% for a 5th month running

American’s consumer sentiment remains elevated by historical standards, retaining most of the gains made since Donald Trump was elected President.

At the same time, Americans are taking note of rising costs for some items: Consumer references to low or discounted prices for household durables, cars and homes dropped to the lowest in 10 years.

Favorable buying conditions declined a bit for big-ticket goods, vehicles and houses.

While purchase plans remain at elevated levels, the widespread declines were due to households’ assessments of the pricing environment, according to the report.

Gasoline prices advanced to the highest since Y 2014, though they are yet to set back consumer spending at a time households are benefiting from lower tax withholding from paychecks and a strong labor market.

“Net price references were the least favorable for household durables since just prior to the Great Recession, for vehicles since Y 1997, and for homes since Y 2006, although higher home prices brightened prospects for selling homes,” the Director of the University of Michigan consumer survey (MSI), said in his statement.

Friday, the major US stock market indexes finished at:DJIA -58.67 at 24753.09, NAS Comp +9.42 at 7433.85, S&P 500 -6.43 at 2721.33

Volume: Trade on the NYSE came in at 720-M/shares exchanged

  • NAS Comp +7.7% YTD
  • Russell 2000 +6.0% YTD
  • S&P 500 +1.8% YTD
  • DJIA +0.1% YTD

HeffX-LTN Major US Stock Market Indexes’ Technical Analysis for Week Ended 25 May 2018H

Date Symbol Price Technical Analysis Support Resistance
25 May 2018 QQQ 169.61 Bullish (0.27) 169.18 170.72
25 May 2018 DIA 247.28 Neutral (0.11) 244.69 247.58
25 May 2018 SPY 271.74 Neutral (0.19) 270.25 274.41

To our US readers, have a terrific Memorial Day weekend, and to our Vets, thank you for your service.

Semper fi

Paul Ebeling

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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.

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