The major US indices opened higher. The Nasdaq was up for the 3rd day and the Dow and the S&P were following up the Friday gains with another solid start.
The S&P moved up 1.01% at the high. The Dow was up 1.14% and the Nasdaq was up 1.54%.
However, oil continued it's move to the upside. US yields remained in positive territory for the day and momentum started to fade. The major indices limped into the close with all the major indices closing in the red.
The closing levels are showing:
- Dow fell -215.66 points or -0.69% at 31072.62
- S&P fell -32.31 points or -0.84% at 3830.86
- Nasdaq fell -92.36 points or -0.81% at 11360.06
- Russell 2000 fell -5.95 points or -0.34% at 1738.41
Looking at the hourly chart of the Nasdaq index, the price decline moved down to test the near converged 100/200 hour MAs at 11314.93 and 11321.48 respectively. Those moving averages will be barometers for buyers and sellers in tomorrow's trading.
After the close IBM announced better top and bottom line earnings.