US Stocks Finished Flat to Unchanged on a Positive Week

US Stocks Finished Flat to Unchanged on a Positive Week

US Stocks Finished Flat to Unchanged on a Positive Week

$DIA, $SPY, $QQQ, $VXX

The S&P 500 eased a bit Friday, ending a 6-day run of record highs as the 1st monthly decliner in US NFPs in 7 years dampened sentiment and pharmacy shares fell on Amazon (NASDAQ:AMZN) competition concerns.

The benchmark’s slight decline follow a 6-day run of record closing highs, its longest since Y 1997.

The NAS Comp ended up for a 9th day running, and set its 6th straight record high closing, its longest such streak since 7 records in February.

The Labor Department’s jobs report showed NFPs (nonfarm payrolls) fell by 33,000 in September as hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring.

A bright spot was a better-than-expected rise in average wages.

  • September Jobs Report shows a decrease of 33,000 in NFPs and an increase of 0.5% in average hourly earnings

The CBOE Volatility (VIX) Index (NYSEArca:VXX) bounced sharply after setting a record low close Thursday session.

On the week, the S&P 500 rose 1.2%, the DJIA added 1.6% and the NAS Comp gained 1.5%.

Adding to the day’s concerns was a report that NKorea is preparing to test a long-range missile, and that the US military are ready and waiting for it. Let’s see what happens.

S&P energy index declined 0.8% as Crude Oil prices fell on profit taking and the return of oversupply worries.

Friday, the US major stock market indexes finished flat to unchanged at: DJIA -1.72 at 22773.67, NAS Comp +4.82 at 6590.18, S&P 500 -2.74 at 2549.33

Volume: Trade on the NYSE came in at a moderate to light number of 728-M/shares exchanged

Decliners outnumbered advancers on the NYSE by a 1.74-to-1 ratio

  • NAS Comp +22.4% YTD
  • DJIA +15.2% YTD
  • S&P 500 +13.9% YTD
  • Russell 2000 +11.3% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.56) Very Bullish (0.60) Very Bullish (0.69) Bullish (0.38)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.41) Neutral (0.21) Very Bullish (0.60) Bullish (0.42)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.39) Bullish (0.46) Bullish (0.31) Bullish (0.40)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.47) Bearish (-0.26) Bearish (-0.48) Very Bearish (-0.67)

Have a terrific weekend

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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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