Major US stock indices dipped into the close and are snatching a modest defeat from the jaws of victory. Both the S&P and NASDAQ index had moved into positive territory with an hour or so left in the day. However, there was some selling and the major indices are closing lower on a day.
A snapshot of the close levels shows:
- Dow industrial average fell -96.71 points or -0.25% at 38990.70
- S&P index fell -6.13 points or -0.12% at 5130.94
- NASDAQ index fell -67.44 points or -0.41% at 16207.50
The Russell 2000 also moved into negative territory and is closing down -2.09 points or -0.10% at 2074.30.
- Super Micro Computers is closing up 170.02 points or 18.78% at $1075.50. However, it’s intraday I was about $1155 before selling off into the close. Nevertheless, it’s still a solid day.
- Nvidia – like Super Micro Computers – surged and reached a high of $876.95 before giving back some of the gains in closing that $852.37. It was still good enough for a $29.58 rise or 3.60%
- Apple was in trouble all day after being sued for $2 million in the EU for anti-competitive practices. It shares fell $4.51 or -2.51% to $175.06.
- Alphabet remains under pressure as well after their Gemini AI launch failed last week. It shares are trading at $133.31 down $-3.83 or -2.79%
- Meta-fell $-4.13 or -0.82% to $498.17.
- Becker’s outdoor Corporation surged by $22.83 or 2.53% to $926.12 after it was announced on Friday after the close that it would be joining the S&P 500