The 3 major US stock indices closed higher today and this week. The gains were led by the NASDAQ on both measures.
A summary of the day shows:
- Dow Industrial Average rose 450.02 points or 1.18% at 38675.69
- S&P index rose 63.61 points or 1.26% at 5127.80
- NASDAQ index rose 315.37 points or 1.99% at 16156.33
For the trading week:
- Dow Industrial Average average rose 1.14%
- S&P index rose 0.55%
- NASDAQ index rose 1.43%
Looking at the small-cap Russell 2000, it rose 0.97% for the day, and also closed higher for the week by 1.684%.
Looking at the daily chart of the S&P index, it is closing just below its 50-day moving average at 5129.98. Getting above that moving average is needed to increase the bullish bias from a technical perspective (see chart below).
For the NASDAQ index, it get above its 50-day moving average today and stayed above that moving average. That is more bullish technically.
For the trading week what major stocks had great weeks?
- Beyond Meat +26.56% (they announce earnings next week)
- Moderna, +15.77%
- Trump Media +15.38% (that despite the issuance of a more stock that was given to former Pres. Trump.)
- Amgen, +15.32%
- Snap +11.68%
- Pfizer +9.61%
- Roblox, +9.08% (they announce next week).
- Qualcomm +8.44% (they announced earnings this week)
- Apple +8.30%
- Tesla +7.64%
- Boeing, +7.50%
- Shopify 4.40% (they announce next week)
- Celcius 3.76% (they announce next week)
- Amazon, +3.69%
- Palantir (they announce next week)
This article was written by Greg Michalowski at www.forexlive.com.