The major indices are closing sharply higher on the day as gains accelerated into the close and last day of the trading month. Although the major indices are still down on the month, the losses have been slashed in the last few days of the trading month.
- All 11 sectors of the S&P close higher
- S&P and Nasdaq have their worst month since March 2020
- Nasdaq has its worst January since 2008
- S&P and Nasdaq have their best 2-day gain since November 2020
- Tesla fell 11% in January
- Amazon fell 10%.
The final numbers are showing:
- Dow rose 406.37 points or 1.17% at 35131.85
- S&P rose 83.67 points ro 1.89% at 4515.53
- Nasdaq rose 469.32 points or 3.41% at 14239.89
- Russell 2000 rose 59.94 points or 3.05% at 2028.45
Looking at the 11 sectors today were:
- Consumer discretionary rose 3.9%
- Technology rose 2.6%
- Communication rose 2.3%
The worst performers today were:
- Health care, +0.6%
- Energy, +0.5%
- Consumer staples, +0.4%
For the month,
- Dow, -3.32%. The Dow was down -8.77% at the month's low
- S&P -5.3%. The S&P was down -11.4% at the month's low
- Nasdaq -8.98%. The Nasdaq was down -16.3% at the month's low
- Russell 2000, -9.8%. It was down -15.34% at the month's low
Both the S&P and Dow closed back above their 200 day MAs.
For the Dow, the 200 day MA comes in at 34977.70. The 100 day MA is above at 35344.19. Getting above the 100 day MA would give buyers more confidence.
Looking at the S&P, its 200 day MA comes in at 4436.76 and the 100 day MA at 4567.37. Like the Dow, get above the 100 day MA would give the buyers more confidence going forward.
