The major US stock indices are closing mixed

The major US indices are closing with mixed results:

• the Dow industrial average is closing lower by -193.25 points or -0.56% at 34396.52
• the S&P index is down -3.33 points or -0.08% at 4076.78
• the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is up 14.46 points or 0.13% at 1482.46
• Russell 2000 is down 4.896 points or -0.26% at 1881.68

The next key event comes tomorrow with the US jobs report due out at 8:30 AM ET. A weaker number (estimate 200 K and 3.7% unemployment rate) would give stocks reason to move more to the upside. A less tight labor market with the unemployed rate near all-time lows at 3.7% is what the Fed is hoping for to help slow inflation.

Conversely, a stronger number would disappoint stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term and likely lead to sharp declines after the move to the upside this week in the major indices.

Technically, the NASDAQ index is closing just below its 100 day moving average at 11500.83. The high price today did extend above that level intraday, but could not sustain momentum. Tomorrow it will be a barometer for bullish or bearish for the tech heavy index.

For the broader S&P index, it closed above its 200 day moving average yesterday for the first time since April. Today the low price at 4050.87 was able to stay just above the 200 day moving average at 4048.33 keeping the technical bias in the favor of the buyers (see green line in the chart below).