The major stock indices have erased their losses and are now trading positive on the day. Comments from Fed Jefferson were somewhat encouraging with hopes that the Fed may keep policy on hold. The chance of a hike by the end of the year is down to 27% (from 45% on Friday).
- Dow industrial average is up 144 points or 0.43% at 33547.68. The Index was down -153.90 points at session laws
- S&P index is up 19.36 points or 0.45% at 4328.00. The Index was down -24.70 points at session lows.
- NASDAQ index is trading up 32.45 points or 0.25% at 13464.93. It was down 153.86 points at session lows
Looking at some of the major large-cap stocks:
- Microsoft is up $2.50 or 0.76% at 329.74
- Apple is trading up $0.89 or 0.50% at $178.32
- Meta is trading up $2.82 or 0.88% at $318.24
- Alphabet is trading up $0.80 or 0.58% at $138.37
- Netflix is trading up $3.13 or 0.82% at $384.64
- Nvidia is still trading down by -$3.60 or -0.79% of $453.99. However, that is up from $-13.94 at session lows.
- Amazon is trading near unchanged but is up from -$3.19 at session lows.
Believe it or not, the end of the week will start the earnings calendar for the 3Q with JP Morgan and Citigroup earnings.
- JP Morgan is trading down -$0.15 or -0.10% at $144.95
- Citigroup is trading up $0.09 or 0.22% at $40.66.