The Dow Industrial Average has been down 8 of the last 9 trading days. That's the bad news. The good news is that the one up day was worth about 546 points.
Nevertheless, the Dow is still down -2.31% over the nearly 2 weeks in the new trading month ("Sell in May and go away?"). Meanwhile the order indices are not as weak. The S&P is down -0.93%, and the NASDAQ index is up 0.83%.
Today the,
- Dow Industrial Average fell -221.82 points or -0.66% to 33309.52
- S&P index fell -7.0 points are -0.17% to 4130.63
- NASDAQ index rose 22.05 points or 0.18% to 12328.50
The Dow Industrial Average was influenced heavily by the sharp fall in Disney shares after their disappointing earnings numbers after the close yesterday. Disney shares fell -$8.84 or -8.74%. Having said that, there were only 6 of the 30 stocks in the Dow industrial average which were higher on the day-to-day led by Coca-Cola and Boeing which rose by 0.57% and 0.50% respectively. On the negative side, there were a total of 7 Dow stocks that fell over 1% on the day.
Alphabet today outperformed with a gain of $4.82 or 4.31% to $116.57 after trading as high as $117.92 intraday. Investors were encouraged by the developer and new product conference yesterday. Shares moved up 4.10% yesterday.
Meanwhile Microsoft-0.70%. Nvidia felt -1.06%, Apple rose 0.15%, Meta increased 1.16% and Amazon rose 1.79%
Regional banks were under pressure with the KRE regional bank ETF falling by -2.48%. Concerns about PacWest Bancorp deposit base sent shivers down dip buyers. PACW shares fell -22.7% to $4.70. The low reached $4.00 early in the session before bouncing modestly higher.
