US major indices snatch defeat from the jaws of victory

Technical Analysis

Major indices move lower on the day after Moderna results questioned by the scientific community

The US stocks were trading near session highs heading into the last hour of trading

The S&P index was near 2964.21. The NASDAQ index was making new session highs at 9317.25. Then there was a report from STAT that questioned the results from the Moderna coronavirus test results.  Stocks moved lower, and the major indices snatched defeat from the jaws of victory.

Suddenly there is a look or feel as good as it used to.

A final look at the numbers are showing:

  • S&P index -30.97 points or -1.05% at 2922.94
  • NASDAQ index -49.72 points or -0.54% at 9185.10
  • Dow -390.51 points or -1.59% at 24206.84.

Some losers today included:

  • Wells Fargo, -5.67%
  • FedEx -3.75%
  • Boeing -3.63%
  • Charles Schwab -3.57%
  • Gilead -3.28%
  • Procter & Gamble, -3.25%
  • Chevron -3.24%
  • Bank of America -3.14%
  • Exxon Mobil, -3.11%
  • PNC financial -2.88% 
  • Citigroup, -2.7%
  • Home Depot, -2.61%

Some winners today included:

  • Beyond meat, +4.62%
  • square, +3.39%
  • Southwest Airlines, +2.29%
  • Slack, +2.28%
  • Facebook, +1.76%
  • AMD, +1.5 and present
  • Adobe, +1.22%
  • Chipotle, +1.09%
  • AliBaba, +0.94%

Walmart which traded as high as 131.99 1 better earnings and revenue before the opening, is closing down at 124.87. That is down -2.19%.  

See here for global coronavirus case data

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