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Coronavirus Update: U.S. Cases Top Two Million, Stocks Drop on Fed Plans

  • Coronavirus Update: U.S. Cases Top Two Million, Stocks Drop on Fed Plans Coronavirus Update: U.S. Cases Top Two Million, Stocks Drop on Fed Plans 2:16
6:59 a.m. Jan. 15, 2021 - By Michael Ashbaugh
Charting a (modest) market downturn, S&P 500 retests 20-day average Focus: Materials digest decisive January breakout, XLB, QCOM, ALK, CVX, RUNU.S. stocks are on the defensive early Friday, pressured amid a sell-the-news response to President-elect Joe Biden’s $1.9 trillion stimulus proposal, and after a mixed batch of quarterly earnings reports. The early downturn punctuates largely sideways week-to-date price action, and has thus far inflicted limited damage in the broad sweep.
6:48 a.m. Jan. 14, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt: Nasdaq, Dow industrials press record highs Focus: Homebuilders break out even amid rising interest rates, XHB, ZBRA, KSS, WSM, JNPR, FATEU.S. stocks are higher early Thursday, rising amid renewed optimism over fiscal-stimulus prospects. Against this backdrop, each big three U.S. benchmark has challenged its prevailing range top — levels defining record highs — amid a slow-motion breakout attempt.
6:48 a.m. Jan. 13, 2021 - By Michael Ashbaugh
Charting a bull flag: S&P 500 digests two standard deviation breakout Small- and mid-cap benchmarks extend statistically unusual 2021 breakoutU.S. stocks are mixed early Wednesday, largely treading water in the wake of powerful breakouts, registered last week. Against this backdrop, each big three U.S. benchmark has asserted a bull flag — a relatively tight four-session range — amid a still comfortably bullish bigger-picture backdrop.
7:53 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
7:29 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
7:06 a.m. Jan. 11, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests break top 20-day volatility bands Focus: Gold violates key trendline, Transports challenge record highs, GLD, IYT, CHGG, AMBA, NXST, MU.S. stocks are lower early Monday, pressured modestly to punctuate an otherwise strong January start. Against this backdrop, each major U.S. benchmark is digesting last week’s statistically unusual breakout, pulling in from previously uncharted territory.
7:01 a.m. Jan. 8, 2021 - By Michael Ashbaugh
Charting a strong January start, big three U.S. benchmarks tag record highs Focus: Metals & Mining ETF digests decisive breakout, Energy sector presses key resistance, XME, XLE, TDOC, DLTR, PLUGU.S. stocks are mixed early Friday, vacillating after a softer-than-expected monthly jobs report. The sluggish start punctuates otherwise bullish early-January price action, amid a rally placing each big three U.S. benchmark at its latest record high.
6:54 a.m. Jan. 7, 2021 - By Michael Ashbaugh
Charting January breakouts, U.S. benchmarks tag round-number milestones Focus: Financials and regional banks take flight amid surging Treasury yields, Health care sector tags record highs, XLF, KRE, XLV, AMAT, SWKS, DXCMU.S. stocks are firmly higher early Thursday, rising to punctuate an early-week whipsaw. Against this backdrop, each big three U.S. benchmark has tagged its latest record high as well as a round-number milestone — S&P 3,800, Nasdaq 13,000 and Dow 31,000.
7:00 a.m. Jan. 6, 2021 - By Michael Ashbaugh
Charting a bullish reversal, S&P 500 challenges record highs Focus: 10-year yield takes flight, Oil & Gas Exploration ETF extends uptrend, TNX, XOP, DVN, AA, LITEU.S. stocks are higher early Wednesday, rising as Treasury yields take flight amid a receding U.S. election overhang. Against this backdrop, the S&P 500 has tagged a nominal record high early Wednesday, while the Dow industrials have broken more firmly to record territory, rising within view of the 31,000 mark.
5:45 a.m. Jan. 6, 2021 - By Mark DeCambre
Dow industrials surge to record high Wednesday near 31,000 as investors digest Democratic win in GeorgiaThe Dow Jones Industrial Average [: DJIA] touched an intraday record on Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia's runoff elections. The tech-heavy Nasdaq Composite also briefly edged higher after opening with short losses on Wednesday shortly after the opening bell on expectations for higher taxes and tighter regulations on tech giants. On top of that, government bond yields were surging, suggesting higher costs for businesses and also provide some resistance for investors weighing buying bonds versus stocks. The Dow was up over 400 points late-morning Monday at 30,804, propelled by a surge in banks, including Goldman Sachs Group Inc. , JPMorgan Chase & Co. and American Express Co. , which were benefiting from rates rising, with the 10-year Treasury yield note [: TMUBMUSD10Y] hitting its highest level since March in early trade around 1.05%. The Nasdaq Composite was up about 0.1% at 12,832 after hitting an intraday low at 12,649.99, while the S&P 500 index gained 0.9% to reach 3,759, trading in record territory and just about 10 points shy of its intraday record high at 3,769.99. Democrat Raphael Warnock defeated incumbent Republican Kelly Loeffler for one U.S. Senate seat and Democrat Jon Ossoff held a narrow lead over Republican Sen. David Perdue in the other race, according to the Associated Press. A Democratic sweep of both seats in Georgia would give the party control of the Senate as Vice President-elect Kamala Harris would cast tiebreaking votes as the chamber's president.
7:55 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, though the initial downturn has inflicted limited damage, writes Michael Ashbaugh.
7:21 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, pulling in respectably from recent record highs. Against this backdrop, the S&P 500 has reversed to its former December range, though amid a downturn that has inflicted limited damage in the broad sweep.
7:10 a.m. Jan. 4, 2021 - By Michael Ashbaugh
Charting a shaky 2021 start: S&P 500 sells off from record highs Focus: Emerging markets challenge 12-year highs, Micron tags 20-year peak, EEM, MU, CHKP, SYNA, CDAYU.S. stocks are firmly on the defensive early Monday, pressured amid an inauspicious 2021 start — at least for the very near-term. The early downturn punctuates an otherwise constructive 2020 finish, placing each big three U.S. benchmark at, or near, its latest record high.
4:35 a.m. Jan. 4, 2021 - By Mark DeCambre
Dow, S&P 500 kick off first trade in 2021 at record highs U.S. stocks briefly rose to records on Monday, the first major trading day of 2021 on hopes that continued government stimulus and the rollout of coronavirus vaccines will help propel stocks to fresh records. The Dow Jones Industrial Average rose to an intraday high at 30,674.28, while the S&P 500 index also notched an intraday all-time high at 3,769.99. The Nasdaq Composite Index traded up 0.4% at 12,934.
10:23 p.m. Dec. 28, 2020 - By Steve Goldstein
European stocks rise after new U.S. records, with DAX also at peak European stocks rose in early action Tuesday following a record-setting day on Wall Street. The German DAX moved higher after it also closed at a record on Monday, with the U.K. FTSE 100 and French CAC 40 also gaining ground. Advancers included travel stocks such as TUI and Lufthansa , while U.K. banks including Lloyds Banking Group and Barclays fell. Futures on the Dow Jones Industrial Average rose 147 points.
8:47 a.m. Dec. 28, 2020 - By Mark DeCambre
Gold settles lower to start last week in 2020, succumbing to bounce in stocks, U.S. dollars Gold futures finished slightly lower Monday, snapping a two-session win streak, giving up early gains in a choppy trading session as investors deemed some firmness in the U.S. dollar and a global stock rally sufficient headwinds for bullion. Gold prices had briefly scored a modest bounce toward its highest level in about six weeks intraday after President Donald Trump signed a coronavirus relief package over the weekend, ending a brief standoff between the White House and Congress. Bullion is viewed as a hedge against devaluation of dollars and large deficits being run up by governments to curb the harmful economic effects of the COVID-19 pandemic. However, some metals dealers believe that the fiscal-spending package, which includes around $900 billion in relief for American companies and workers, was largely priced into gold's recent advance toward a psychological round-number level at $1,900. Gains for the Dow Jones Industrial Average and the S&P 500 index also may be tempering enthusiasm for haven assets as those perceived as risky ride higher in 2020's final trading week. February gold finished off $2.80, or 0.1%, to end at $1,880.40 an ounce.
6:40 a.m. Dec. 23, 2020 - By Michael Ashbaugh
Charting a bullish 2020 finish, S&P 500 digests break to record territory Focus: Biotech sector extends late-year breakout, Apple approaches record territory, IBB, AAPL, LITE, RUN, SWAVTechnically speaking, the major U.S. benchmarks are closing out 2020 on a largely bullish note. Consider that wide-ranging, and at times, historically volatile early-year price action, has been punctuated by an orderly December range, as each big three U.S. benchmark digests a recent break to all-time highs.
8:43 a.m. Dec. 22, 2020 - By Mark DeCambre
Gold logs sharpest one-day slide in two weeksGold futures on Tuesday logged their first consecutive losses in about two weeks, marking the steepest slide for the metal since early December, as a perkier U.S. dollar and an attempted rebound in equities kept the haven metal under selling pressure in the session. February gold closed off $12.50, or 0.6%, to settle at $1,870.30 an ounce, producing the first consecutive declines and the sharpest slide since early Dec. 9, FactSet data show. The dollar rose 0.6% on the day, as measured by the ICE U.S. Dollar Index , and is one pace for a weekly gain of 0.7%. A stronger dollar can be a headwind for assets priced in the currency like precious metals. Meanwhile, stocks were trying to recovery from volatile trading on Monday that was sparked by worries about a new more transmissible strain of coronavirus spreading from the U.K.
8:04 a.m. Dec. 22, 2020 - By Michael Ashbaugh
Charting a bullish backdrop as the S&P 500’s wild 2020 ride concludes Focus: Silver extends trendline breakout, JPMorgan Chase challenges key resistance, SLV, JPM, COUP, PAGS, CSIQTechnically speaking, the major U.S. benchmarks have pulled in from recent record highs amid still largely bullish year-end price action, writes Michael Ashbaugh.
7:34 a.m. Dec. 22, 2020 - By Michael Ashbaugh
Charting a bullish backdrop as the S&P 500’s wild 2020 ride concludes Focus: Silver extends trendline breakout, JPMorgan Chase challenges key resistance, SLV, JPM, COUP, PAGS, CSIQTechnically speaking, the major U.S. benchmarks have pulled in from recent record highs amid still largely bullish year-end price action. Against this backdrop, the S&P 500 has maintained major support (3,646) rising respectably from its second successful retest in as many weeks.
7:12 a.m. Dec. 21, 2020 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 retests the breakout point Focus: Materials sector sustains late-year breakout, XLB, DE, LPSN, BLDP, UTHRU.S. stocks are lower early Monday, though well off the session’s worst levels, pressured amid renewed virus concerns. Against this backdrop, the S&P 500 has extended a downturn from record highs, pulling in to a second — and thus far successful — test of its breakout point (3,646).
4:37 a.m. Dec. 21, 2020 - By Mark DeCambre
Dow loses grip on 30,000 early Monday as investors worry about coronavirus spread; Tesla sees first trade as S&P 500 memberU.S. stocks early Monday opened lower to start Christmas week as coronavirus stimulus deal overshadowed worries over a new COVID-19 strain in Europe. The Dow Jones Industrial Average was trading 200 points, or 0.7%, lower at 29,985, the S&P 500 retreated 1% to reach 3,673. The Nasdaq Composite Index lost 102 points, or 0.8%, early Monday to reach 12,652. Congressional efforts toward a fresh aid package to combat the detrimental economic effects of the pandemic were coupled with a roughly $1.4 trillion annual fiscal spending package, with lawmakers set to vote on a bill later Monday. However, investors are focused on tightened lockdown measures in London, where reports of a novel strain of the coronavirus that causes COVID-19 has rattled investor confidence. Markets also are focused on Tesla Inc. , which is seeing its first trading day as an S&P 500 member.
6:54 a.m. Dec. 18, 2020 - By Michael Ashbaugh
Bull trend pauses: U.S. benchmarks digest rally to latest record close Focus: Homebuilders edge to record territory, XHB, SHOP, PLUG, CYBR, FLT, APLSU.S. stocks are lower early Friday, pressured to conclude otherwise constructive week-to-date price action. Against this backdrop, each big three U.S. benchmark has pulled in relatively modestly from its latest record close.
7:04 a.m. Dec. 17, 2020 - By Michael Ashbaugh
Charting bullish follow-through: S&P 500, Nasdaq scratch out record highs Focus: Silver’s trendline breakout, Okta tags uncharted territory, SLV, OKTA, CALX, ESTC, CERNU.S. stocks are higher early Thursday, rising amid continued optimism over fiscal-stimulus prospects. In the process, the S&P 500 and Nasdaq Composite have rallied to tag their latest record peaks, though in characteristically grinding-higher form.
11:04 a.m. Dec. 16, 2020 - By Mark DeCambre
Nasdaq ends at record, S&P 500 narrowly misses closing high as Fed emphasizes 0% interest rates through 2023 U.S. stocks finished at or near records on Wednesday, though the Dow closed nearly flat, as the Federal Reserve did little to indicate a change of the regime of ultralow interest rates amid the pandemic. The Fed said it was optimistic on the current recovery but emphasized that the outlook for the economy will hinge on how the U.S. deals with the worst viral outbreak in more than a century. Federal-funds rates were held at a range between 0% and 0.25%, as expected, as Washington tries to hammer out an agreement on another round of financial aid to combat the economic harm from the coronavirus. The central bank increased its GDP forecast but didn't adjust its $120 billion asset purchases, as had been expected by some Fed watchers. "Together these measures will ensure that monetary policy will continue to deliver powerful support for the economy until the recovery is complete," Fed Chairman Jerome Powell said at a news conference after Wednesday's statement was released. "A big yawn," is how Michael Arone, chief investment strategist at State Street Global Advisors, described the policy update to MarketWatch, immediately after the release. The Dow Jones Industrial Average closed down by about 44 points, or 0.2%, at around 30,155; the S&P 500 index rose 0.2% to 3,701, just shy of its Dec. 8 closing record at 3,702.25' while the Nasdaq Composite Index booked a 0.5% rise to a record close at about 12,658. In economic reports, a retail sales report showed that the economy may be slowing as coronavirus cases surge. U.S. retail sales dropped a seasonally adjusted 1.1% in November from the prior month. The data and Fed update come as congressional lawmakers were hammering out a roughly $900 billion deal that was expected to include another round of direct payments to households, The Wall Street Journal reported. In corporate news, Shares of Facebook Inc. were in focus after it launched a PR assault against Apple Inc. claiming the iPhone maker's upcoming mobile operating system update will hurt small businesses. Bond yields also edged higher, with the 10-year Treasury note yielding 0.92%.
9:23 a.m. Dec. 16, 2020 - By Mark DeCambre
Dow adds to slight losses Wednesday as Fed says path of economy next year depends on coronavirusU.S. stocks traded off their highest levels of the session on Wednesday, and losses deepened for the Dow, as investors parsed the last policy update of 2020 from the Federal Reserve, which did little to indicate a change of the regime of ultralow interest rates amid the pandemic. The Fed said it was optimistic on the current recovery but noted that the outlook for the economy will hinge on how the U.S. deals with the worst viral outbreak in more than a century. Federal-funds rates were held at a range between 0% and 0.25%, as expected, as Washington tries to hammer out an agreement on another round of financial aid to combat the economic harm from the coronavirus. The central bank increased its GDP forecast but did little to adjust its asset purchases, as had been expected by some Fed watchers. "A big yawn," is how Michael Arone, chief investment strategist at State Street Global Advisors, described the policy update to MarketWatch, immediately after the release. The Dow Jones Industrial Average was trading of by about 100 points, or 0.3%, lower at 30,104, the S&P 500 index slipped into negative territory at 3,693, while the Nasdaq Composite Index pared its gains, up 0.2% at 12,618. Fed Chairman Jerome Powell will host a news conference at 2:30 p.m.
7:05 a.m. Dec. 16, 2020 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 vies for latest record close Focus: Metals & Mining ETF forms bull flag, Apple builds on trendline breakout, XME, AAPL, UHS, THC, NOVAU.S. stocks are mixed early Wednesday, largely treading water after a soft batch of economic data. Against this backdrop, the S&P 500 and Nasdaq Composite are vying to register their latest record closes, rising from successful tests of major support.
4:33 a.m. Dec. 16, 2020 - By Mark DeCambre
Dow struggles for altitude at Wednesday's open as investors watch reports on $900 billion COVID fiscal deal, Fed updateU.S. stocks on Wednesday traded tepidly higher, struggling to gain ground into substantially positive territory, as investors awaited key news that could provide a fresh catalyst for equities, including an update on a much-discussed coronavirus spending package and an update from the Federal Reserve at 2 p.m. Eastern on monetary policy headed into 2021. that Republican Sen. Steve Daines expressed optimism that congressional leaders will release a $900 billion coronavirus relief deal as soon as Wednesday morning. The Dow Jones Industrial Average [: DJIA] was trading less than 0.1% higher at 20,205, the S&P 500 index was trading 0.1% higher at 3,698, trying to rise above a psychological and technical level at 3,700, while the Nasdaq Composite Index was trading 0.2% higher at 12,617.
7:20 a.m. Dec. 15, 2020 - By Michael Ashbaugh
Charting a (bullish) holding pattern: S&P 500, Nasdaq nail major support Focus: Biotech sector extends to record highs, Netflix’ stealth breakout attempt, IBB, NFLX, XLNX, TM, WSMTechnically speaking, the S&P 500 and Nasdaq Composite have maintained major support against a still comfortably bullish intermediate-term backdrop, writes Michael Ashbaugh.
6:49 a.m. Dec. 15, 2020 - By Michael Ashbaugh
Charting a (bullish) holding pattern: S&P 500, Nasdaq nail major support Focus: Biotech sector extends to record highs, Netflix’ stealth breakout attempt, IBB, NFLX, XLNX, TM, WSMTechnically speaking, the major U.S. benchmarks have asserted a December holding pattern, digesting early-month rallies to record territory. In the process, the S&P 500 and Nasdaq Composite have maintained notable support matching the November peaks — S&P 3,646 and Nasdaq 12,244 — amid a still comfortably bullish intermediate-term backdrop.
6:59 a.m. Dec. 14, 2020 - By Michael Ashbaugh
Charting successful technical tests: S&P 500, Nasdaq maintain the breakout point Focus: Regional banks sustain late-year breakout, KRE, TWLO, TEAM, ETSY, ON, SURFU.S. stocks are higher early Monday, rising as U.S. vaccine distribution kicks off. The early-week upturn punctuates successful tests of major support for the S&P 500 and Nasdaq Composite — the S&P 3,646 and Nasdaq 12,244 areas.
11:06 a.m. Dec. 9, 2020 - By Mark DeCambre
Nasdaq logs worst day in 6 weeks, and Nasdaq-100 snaps 10-day win streak as tech stocks get wreckedU.S. stocks ended firmly Wednesday and technology shares were hammered after setting a fresh round of intraday records at the open, as investors migrated out of big large-cap outperformers into more value-oriented segments of the market ahead of any new fiscal stimulus plan from Congress and a vaccine rollout that could restore economic normality next year. The Nasdaq Composite Index Wednesday fell 1.9% at 12,338, marking its sharpest one-day fall since Oct.30, according to FactSet data. The S&P 500 index ended off 0.8% at around 3,673, while the Dow Jones Industrial Average closed 0.4% lower at 30,067. Wall Street is watching negotiations centered on a number of possible relief packages as the Trump administration proposed a $916 billion deal on Tuesday after Democrats rejected an effort by Senate Majority Leader Mitch McConnell to narrow the scope of the bill. The day's action comes after the S&P 500 and the Nasdaq finished at record closing highs on Tuesday. The day also saw the Nasdaq-100 index , representing the largest of the Nasdaq, finish 2.2% lower, snapping its longest win streak since the period ended Dec. 26, 2019.
7:32 a.m. Dec. 9, 2020 - By Michael Ashbaugh
Charting a grinding-higher uptrend: S&P 500 approaches next technical target Focus: Nasdaq 100 extends late-year breakout, QQQ, ADSK, MNST, TGT, XEC, PLUGTechnically speaking, the major U.S. benchmarks continue to press record territory, broadly rising amid grinding-higher late-year price action. Against this backdrop, the S&P 500 and Nasdaq Composite are digesting rallies to their latest record closes, while the Dow Jones Industrial Average has registered three straight closes atop the 30,000 mark for the first time on record.
7:28 a.m. Dec. 8, 2020 - By Michael Ashbaugh
Charting a slow-motion breakout: S&P 500 challenges 3,700 mark Focus: Retail sector extends break to record highs, Apple sustains trendline breakout, XRT, AAPL, FFIV, SAIL, EMR, PDCOTechnically speaking, the S&P 500 has rallied to press the 3,700 mark, while the Nasdaq Composite vies to extend a more aggressive breakout, writes Michael Ashbaugh.
6:59 a.m. Dec. 8, 2020 - By Michael Ashbaugh
Charting a slow-motion breakout: S&P 500 challenges 3,700 mark Focus: Retail sector extends break to record highs, Apple sustains trendline breakout, XRT, AAPL, FFIV, SAIL, EMR, PDCOTechnically speaking, the U.S. benchmarks continue to trend higher, rising amid rotational price action, and persistent late-year strength. Against this backdrop, the S&P 500 has rallied to press its latest round-number milestone — the 3,700 mark — while the Nasdaq Composite vies to extend a more aggressive break to all-time highs.
6:51 a.m. Dec. 7, 2020 - By Michael Ashbaugh
Charting a bull-flag breakout, S&P 500 (almost) tags 3,700 mark Focus: Consumer staples sector sustains break to record highs, XLP, CAT, HON, ZS, FTNT, KLICU.S. stocks are mixed early Monday, vacillating amid largely familiar virus- and fiscal stimulus-related market headlines. Against this backdrop, the S&P 500 is digesting its latest break to record territory, thus far topping less than one point from the 3,700 mark.
9:07 a.m. Dec. 4, 2020 - By Mark DeCambre
A quartet of stock-market record closing highs? That hasn't happened in nearly 3 yearsU.S. stocks were zooming higher on Friday, putting four closely watched gauges of the equity market on track to finish the day at record closing highs on the same day for the first time since 2018, Dow Jones Market Data said. The Dow Jones Industrial Average was trading 164 points, or 0.5%, higher at 30,132, the S&P 500 index was gaining 22 points, or 0.6%, while the Nasdaq Composite Index was advancing 0.5% to 12,436. Throw in the Russell 2000 index of small-capitalization stocks, up 1.9%, at 1,882, and all four of the main indexes were on pace to finish at a record high for the first time since January 22, 2018. Markets were buoyant on Friday on the back of hope of a fresh round of fiscal relief from Washington lawmakers, which was combining with hope for vaccines for COVID-19 to deliver a shot in the arm for bullish investors.
7:03 a.m. Dec. 4, 2020 - By Michael Ashbaugh
Charting bullish follow-through, S&P 500 approaches 3,700 mark Focus: Airlines tag nine-month highs, Boeing extends recovery attempt, FedEx breakout attempt ahead of earnings, JETS, BA, FDX, DDS, SIMO, CALU.S. stocks are higher early Friday, rising after a lackluster monthly jobs report strengthened the case for fiscal-stimulus measures. Against this backdrop, each big three U.S. benchmark has extended its December breakout, rising to tag nominal new record highs.
6:55 a.m. Dec. 3, 2020 - By Michael Ashbaugh
Charting a successful technical test: S&P 500 nails the breakout point Focus: 10-year yield asserts uptrend, Apple’s stealth breakout, TNX, AAPL, SPOT, VLO, ALGNU.S. stocks are higher early Thursday, rising after better-than-expected weekly jobless claims and revived prospects for a potential stimulus package. Against this backdrop, the S&P 500 has sustained a December rally to record territory, rising from a successful test of its breakout point (3,646).
7:10 a.m. Dec. 2, 2020 - By Michael Ashbaugh
Charting a bullish December start: S&P 500, Nasdaq tag latest record highs Focus: QQQ challenges record highs, Gold maintains major support, Alphabet’s breakout attempt, QQQ, GLD, GOOGL, ADI, EXAS, GMEU.S. stocks are mixed early Wednesday, largely treading water in the wake of an otherwise strong December start. Against this backdrop, the S&P 500 and Nasdaq Composite have concurrently broken to record highs, extending persistent late-year rallies to previously uncharted territory.
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