The major US indices are closing with solid gains led by the Dow Industrial Average which rose by over 500 points or 1.58% on the day. The NASDAQ index lagged but still closed higher with a gain of 1.26%..
The gains today, head of the key CPI data which were released at 8:30 AM tomorrow expectations for 0.3% for the headline and the core number. Year on year the headline numbers is expected to fall to 7.3% from 7.7%. The core is expected to dip to 6.1% from 6.3%.
The final numbers are showing:
- Dow Industrial Average up 528.34 points or 1.58% at 34004.81. The index closed above its 100 hour moving average at 33934.69
- S&P index closed up 56.19 points or 1.43% at 3990.58. Like the Dow it also closed above its 100 hour moving average currently at 3986.75 (bullish)
- NASDAQ index rose 139.13 points or 1.26% at 11143.75. Unlike the Dow and the S&P, it closed just below its 100 hour moving average at 11148.59
Leading the Dow 30:
- Boeing, +3.72%
- Microsoft, +2.89%
- Visa, +2.81%
- Caterpillar, +2.58%
- Nike +2.39%
Other oversize gainers today included:
- Box, +7.51%
- Roblox, +5.34%
- DoorDash +5.01%
- American Airlines +4.95%
- Schlumberger, +4.52%
- Snowflake +4.44%
losers today included
- Moderna, -6.9%
- Tesla, -6.27%
- Rivian, -6.16%
- Alibaba, -2.03%
- Netflix -1.51%