The major US stock indices are ending lower on the day led by the NASDAQ index with a decline of about -1.6%. However, that comes after some pretty strong gains including a 3.25% gain yesterday.
The final numbers are showing:
- Dow Industrial Average fell -127.93 points or -0.38% at 33926.00
- S&P index fell -43.26 points -1.03% at 4136.49
- NASDAQ index fell -193.85 points or -1.59% at 12006.96
- Russell 2000 fell -15.68 points or -0.78% at 1985.53
For the trading week, the S&P and NASDAQ closed higher, but the Dow Industrial Average had a small decline as traders rotated away from the relative safety of the down into the tech heavy NASDAQ:
- Dow Industrial Average fell -0.15%
- S&P index rose 1.62%
- NASDAQ index rose 3.31%
Technically, for the NASDAQ index enclosed above its 200 day moving average at 11465.53 for the second consecutive week. Last week, the price closed above on Friday, but traded back below the moving average on Monday and Tuesday before rotating back to the upside. Stay above the 200 day moving average keeps the buyers in firm control. The NASDAQ index has been up for five consecutive weeks. The price is up 17.6% from the low during the week of December 27, 2022.
NASDAQ is up for the fifth consecutive week