The S&P and the Nasdaq remain lower on the week. The Dow and the small-cap Russell 2000 closed higher with the Russell 2000 the best performer on the rotation on hopes lower rates would help those companies going forward.
The final numbers are showing:
- Dow industrial average rose 654.27 points or 1.64% at 40,589.35.
- S&P index rose 59.86 points or 1.11% at 5459.09
- NASDAQ index rose 176.16 points or 1.03%17357.88
The small-cap Russell 2000 rose to 37.08 points or 1.67% at 2260.06.
For the trading week:
- Dow Industrial Average average rose 0.75%.The Dow closed higher for the fourth consecutive week
- S&P index fell -0.83%. The S&P index fell for the second consecutive week.
- NASDAQ index-2.08%. The NASDAQ index fell for the second consecutive week.
- Russell 2000 rose 3.466% and for the third consecutive week.
Next week is a huge week with Amazon, Apple, Meta Platforms, and Microsoft all scheduled to release earnings.
Today:
- Meta Platforms +2.75%
- Amazon, +1.47%
- Alphabet -0.17%
- Apple +0.22%
- Microsoft +1.64%
- Tesla -0.20%
- Nvidia +0.71%
For a list of the other companies scheduled to release can be found HERE. Of course the Fed interest rate decision on Wednesday will also be a key event. The week will also end with the US jobs report on Friday (177K estimate with the unemployment rate at 4.1%).
This article was written by Greg Michalowski at www.forexlive.com.