Wednesday, the DJIA finished the day above 27,000 after Pfizer (NYSE:PFE) announced that it had struck a deal with the US government for the C-19 coronavirus vaccine it is developing with BioNTech SE.
The NAS Comp finished the day up 0.2%, the DJIA gained 0.6%, and the S&P 500 rose 0.6%.
Market breadth was good: More than 70% of the S&P 500’s stocks finished higher, 23 of the Dow’s 30 stocks finished in the Green.
The NYSE Cumulative Advance/Decline Line, a technical measure that grows or shrinks each day based on whether more stocks rose or fell hit an all-time high on Tuesday and continued rising Wednesday, suggesting that the underlying market is stronger than it looks to many.
Wednesday, the major US stock market indexes finished at: DJIA +165.44 at 27005.84, NAS Comp +25.76 at 10706.21, S&P 500 +18.72 at 3276.02
Volume: Trade on the NYSE came in at light at 830-M/shares exchanged
- NAS Com +19.3% YTD
- S&P 500 +1.4% YTD
- DJIA -5.4% YTD
- Russell 2000 -10.7% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here.
Looking Ahead: Investors will receive the weekly Initial and Continuing Claims report and Conference Board’s Leading Economic Index for June Thursday.
Have a healthy day, Keep the Faith!