Wall Street Close: Bears take profits, bulls support tech


  • Unofficially, the Dow Jones Industrial Average lost  221.37 points or 0.8%.
  • The S&P 500 SPX lost 10.23 points, or 0.30%.
  • The Nasdaq put on 72.41 points, or 0.64%.

Wall Street was less eventful on Tuesday but managed to see stocks looking healthier, albeit little changed.

On Monday, all the three major stock indexes chalked up their biggest declines in about four weeks following the news that a record number of new coronavirus cases across Europe and in the United States and as the elusive stimulus rattled investors.

On Tuesday, both the Dow and S&P 500 were dipping on disappointing earnings while investors are a now holding very few hopes for a U.S.coronavirus stimulus before Election Day.

However, the Nasdaq managed to eke out a gain as investors looked ahead to the biotechnology company results.

The White House announced that COVID-19 relief would come in "weeks," rather than before the elections, in other words.

Sectors sensitive to economic growth took a hit, with both the S&P 500 banks index. However, the tech-heavy Nasdaq climbed as Microsoft Corp MSFT firmed in the run-up to its results after the closing bell, and the technology heavyweights supported the S&P500.

The Nasdaq rose in anticipation of results later this week from Apple Inc AAPL, Amazon.com AMZN, Google-parent Alphabet GOOG and Facebook Inc FB.

The tech bellwethers together account for about a fifth of the S&P 500's total value.

The Dow Jones Industrial Average lost  221.37 points or 0.8%, to 27,464.01, the S&P 500 SPX fell 10.23 points, or 0.30%, to 3,390.74 and the Nasdaq put on 72.41 points, or 0.64%, to 11,431.35.

Meanwhile, Wall Street's fear gauge VIX hovered at its highest level since early September on election jitters. 

S&P 500 levels

 

Overview
Today last price 3395.25
Today Daily Change 3.75
Today Daily Change % 0.11
Today daily open 3391.5
 
Trends
Daily SMA20 3439.22
Daily SMA50 3412.83
Daily SMA100 3306.84
Daily SMA200 3125.59
 
Levels
Previous Daily High 3439.25
Previous Daily Low 3366.5
Previous Weekly High 3505.5
Previous Weekly Low 3416
Previous Monthly High 3587
Previous Monthly Low 3209.5
Daily Fibonacci 38.2% 3394.29
Daily Fibonacci 61.8% 3411.46
Daily Pivot Point S1 3358.92
Daily Pivot Point S2 3326.33
Daily Pivot Point S3 3286.17
Daily Pivot Point R1 3431.67
Daily Pivot Point R2 3471.83
Daily Pivot Point R3 3504.42

 

 

 

 

 

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