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