Major stock indices are closing higher with the S&P index closing at another record level. Shares of Palantir did not fare as well as it tumbled -10.08% after present from said that the Pentagon should look to cut spending by 8%. With the price at the highs today up nearly 100% from the January low, a corrective move of 10% is the price of the gains (and the price can still go lower).
A snapshot of the closing levels shows:
- Dow industrial average up 71.25 points or 0.16% at 44627.59.
- S&P index of 14.57 points or 0.24% at 6144.15.
- NASDAQ index up 14.99 points or 0.07% at 20056.25.
- Russell 2000 down 7.89 points or -0.34% at 2282.45.
Meta, which has also been on a run higher with a 20 day when streak is now down for the second consecutive day. Shares felt $-12.60 or -1.76% to $703.77.
The software ETF high GV also fell indicative of lower software prices (inclusive of Palantir) fell -1.75%