US equity indexes closed mixed, SPX +52pts (0.7%) at 7489. Nasdaq comp' +1.0%. Dow +0.5%. The Transports settled -0.2%. R2K -0.5%
SPX – daily
VIX – daily
Summary
US equities opened moderately higher, and whilst there was a significant cooling wave, the bears could only manage 7399. There was a secondary push upward to 7512, and settling at 7489.
Volatility was mixed, the VIX printing an early high of 18.70, but cooling back to settle -6.4% to 15.99. –
US equity indexes mostly closed sig' higher, SPX +121pts (1.7%) at 7437. Nasdaq comp' +2.8%. Dow +1.2%. The Transports settled -1.7%. R2K +1.4%
SPX – daily
VIX – daily
Summary
US equities opened broadly higher. There was a cooling wave, but a stronger secondary push upward into the late afternoon to 7448, and settling at 7437.
Volatility was ground significantly lower, the VIX settling -17.3% to 17.09 –
US equity indexes closed mixed, SPX +15pts (0.2%) at 7429. Nasdaq comp' -0.2%. Dow +1.0%. The Transports settled -0.8%. R2K +0.2%
SPX – daily
VIX – daily
Summary
US equities opened choppy... leaning a little weak, but all the bears could manage was 7382. There was a bounce into the afternoon to 7452, and settling at 7429.
Volatility was a little mixed, the VIX settling -2.5% to 18.21. –
US equity indexes closed rather mixed, SPX +1pt (0.02%) at 7413. Nasdaq comp' -0.2%. Dow +0.5%. The Transports settled -1.8%. R2K +0.7%
SPX – daily
VIX – daily
Summary
An opening high of 7480, but gains rapidly eroded to marginally red to 7382, and settling +0.02% to 7413. Today was the latest example of big money sellers into another bounce.
Volatility was mixed, an early low of 17.68, spiking to 19.93, settling +0.5% to 18.67. –
It was a bearish week for most US equity indexes, with net weekly changes ranging from -2.1% (Nasdaq comp'), -1.1% (Trans), -1.0% (R2K), -0.6% (SPX), -0.4% (Dow), to +0.7% (NYSE comp').
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
Five US equity indexes were net lower for the week, with one net higher.
The Nasdaq lead the way down, whilst the NYSE comp' was moderately higher.
–
Looking ahead
An exceptionally busy week is ahead, with another truck load of earnings, and an FOMC that might see rates raised.
T - Wholesale & retail inventories, Case-Shiller HPI, consumer conf',
W - 2pm FOMC announcement. 2.30pm Press conf'
T - Q2 GDP (print'1), Pers' income/outlays, PCE, Weekly jobs,
F - Employment costs, Chicago PMI, consumer sent'.
*As Friday is end month, I'd expect dynamic price action on higher vol'.
-
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US equity indexes closed moderately mixed, SPX +3pts (0.05%) at 7411. Nasdaq comp' -0.6%. Dow +0.4%. The Transports settled -0.4%. R2K -0.3%
SPX – daily
VIX – daily
Summary
US equities opened a little choppy. All the bears could manage was a marginal low of 7397, bouncing to 7460, afternoon cooling to 7396, and settling fractionally higher at 7411.
Volatility saw a few swings, the VIX printing a low of 17.41, swinging to 18.94, and settling -0.6% to 18.58. –
US equity indexes closed broadly higher, SPX +65pts (0.9%) at 7509. Nasdaq comp' +1.3%. Dow +0.7%. The Transports settled +0.9%. R2K +1.5%
SPX – daily
VIX – daily
Summary
US equities opened on a positive note, and whilst the early gains were a little shaky, s/t momentum turned positive, carrying the market upward to 7515, and settling broadly higher at 7509.
Volatility was ground lower for a second day, the VIX settling -8.6% to 17.05.
US equity indexes closed on a weak note, SPX -14pts (0.2%) at 7443. Nasdaq comp' -0.05%. Dow -0.6%. The Transports settled -1.2%. R2K -0.5%
SPX – daily
VIX – daily
Summary
Equities opened positive, but it didn't take long for a few indexes to turn red. The afternoon saw renewed adverse war headlines, with even the SPX turning red, settling at 7443.
Volatility was a little mixed, the VIX printing a low of 17.41, but recovering to settle -0.6% to 18.65. –
It was a bearish week for most US equity indexes, with net weekly changes ranging from -2.9% (Nasdaq comp'), -1.5% (SPX), -0,9% (Dow), -0.7% (R2K), -0.4% (NYSE comp'), to +2.5% (Trans).
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
Five US equity indexes were lower for the week, with one net higher.
The Nasdaq was rather powerfully lower, whilst the Transports was very significantly higher.
A net bearish week for the collective of US equities, but nothing that merits any hysteria. Its mostly just multi-week chop... a little below recent historic highs.
Whilst I struggle to see a new historic high (this side of Labor day), even if we do, I'd still look for some degree of washout ahead of the midterms. The only issue is whether its a basic correction of around 10%, or something bigger... 15%, or even 20/25%. The latter looks a real stretch unless a major 'adverse event' occurs. The middle east and the Ukraine comes to mind.
Anyway, earnings are set to broadly come in fine. The econ-data is mostly non-recessionary, if skewed by monstrous Govt' deficit spending.
Ohh, and I shall be net bullish equities unless the Fed cut rates. It is ironically the case that higher rates would be inherently bullish for equities, especially the financials. I continue to expect a hike in Sept' and Dec'.
... as episode 2026 of Planet Krazy continues.
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Have
a good weekend --
*the next post on this page will likely appear 4.20pm EST on
Monday.
