The major US stock indices are off to a good start to the shortened trading week. The gains are led by the NASDAQ index which is up over 2.3%.
A snapshot of the market currently shows:
- Dow industrial average up 423 points or 1.41% at 30312
- S&P index up 71 points or 1.93% at 3746.30
- NASDAQ index up 251 points or 2.31% at 11051
- Russell 2000 up 21.1 points or 1.28% 1687.03
The gains today are a decent start, but the major indices have been anything but poignant. The Dow industrial average is down 11 of the last 12 trading weeks. The S&P and NASDAQ that's down 10 of the last 11 weeks. Each of the major 3 indices have been down the last 3 trading weeks.
The Dow industrial average has averted going into bearish territory. At the lows from last week, the index has moved down -19.75% from its all-time high reached the 1st week of January.
For the S&P index at the lows last week, the index was down -24.52%. The NASDAQ index reached a low of -34.83% from its all-time high.
For the NASDAQ index, it barely averted closing below its 200 week moving average for the 1st time since the week of March 16, 2020 at the start of the pandemic. The price did trade below its 200 week moving average at 10811.53 currently, but rallied into the close on Friday.
Him him him him