US stocks close sharply higher. NASDAQ prints a new all-time high

Technical Analysis

Dow, S&P best week in 2 months

The major US stock indices closed sharply higher after the much better-than-expected employment report. 

  • The gains propel the NASDAQ index to a new all time high. 
  • The Dow is now on its longest winning streak since January (5 day win streak). 
  • The S&P and Dow had their best week in 2 months. 
  • The S&P is within 1.14% of the closing level from 2019.   
  • The NASDAQ 100 index close at an all-time record high
The nasdaq index

A look at the final numbers are showing:

  • S&P index rose 81.58 points or 2.62% at 3193.93
  • NASDAQ index rose 198.26 points or 2.06% at 9814.08
  • Dow industrial average rose 829.16 points or 3.15% at 27110.98.

For the week, rotation into to Dow stocks was the storyline.

  • Dow rose by 6.81%
  • S&P rose by 4.91%
  • Nasdaq rose by 3.42%

For the year to date, the Nasdaq is up over 9%.  The other indices are still down on the year but the S&P is getting close to the unchanged level:

  • Nasdaq, +9.38%
  • S&P, -1.14%
  • Dow, -5.0%

Oversized winners today included:

  • US steel, +13.73%
  • Ford motor, +11.87%
  • Boeing, +11.46%
  • United Airlines +8.52%
  • Exxon Mobil, 8.21%
  • Daimler +7.28%
  • Raytheon technologies, +6.75%
  • Citigroup, +5.71%
  • Delta Air Lines, +5.43%

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