The major US indices are closing mixed ahead of Nvidia earnings after the close tomorrow and that Powell’s Jackson Hole speech on Friday.
The Dow industrial average and S&P index both closed lower today giving up earlier gains. The NASDAQ index maintained a modest gain despite Nvidia, AMD, Adobe, Meta moving lower. On the other side, however, Alphabet, Microsoft, Apple, Tesla, Netflix all gained today. So I guess it makes sense that the NASDAQ index closed with a modest gain.
The final numbers are showing:
- Dow industrial average fell -174.88 points or -0.51% at 34288.82
- S&P index fell -12.22 points or -0.28% at 4387.54
- NASDAQ index rose 8.27 points or 0.06% at 13505.86
Looking at some of the leaders:
- Nvidia fell $-12.83 or -2.73% at $456.84. The video below outlines the technicals that are in play through the earnings tomorrow
- Charles Schwab -4.93%
- PNC financial -3.17%
- First Solar -2.86%
- Palo Alto Networks -2.6% after a surge yesterday.
- Citigroup -2.47%
- Bank of America -2.44%
Gainers today included:
- Moderna, +4.65%
- AirBNB, +2.48%
- Paypal, +2.47%
- Marriot, +2.07%
- DoorDash +1.63%
- Boeing, +1.25%
Looking at the big growth stocks:
- Netflix +1.20%
- Tesla +0.83%
- Apple +0.79%
- Alphabet +0.55%
- Microsoft +0.18%
US yields start the day lower and are ending the day with mixed results:
- 2 year yield 5.043%, +5.2 basis points
- 5 year yield 4.487%, +2.9 basis points
- 10 year yield 4.33%, -1.2 basis points
- 30 year yield 4.406%, -0.5 basis points