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Wall Street Close: Benchmarks mixed on conflicting sentiment

  • S&P 500 unofficially closes up 15.75 points, or 0.51%, at 3,116.04.
  • NASDAQ unofficially closes up 94.92 points, or 0.94%, at 10,153.69.
  • Dow Jones unofficially closes down 74.66 points, or 0.29%, at 25,738.22.

US markets were mixed overnight with the US benchmarks eeking out small gains at the start of a new month and quarter at the heels of an easing European session and a haphazard Asian session.

On the one hand, US data was yet again better than expected, lifting spirits ahead of the mid-day consolidation. on the other hand, the positive US data was tempered by a lift in COVID-19 cases.

However, there was some optimum in the encouraging preliminary trial results of an experimental coronavirus vaccine from Pfizer — a Dow component stock — which rallied 5% on the day.

There are some expectations that a safe and effective treatment can be found, even though it’s unlikely one will be available before 2021.

Subsequently, the S&P 500 unofficially closed up 15.75 points, or 0.51%, at 3,116.04, the NASDAQ unofficially ended up 94.92 points, or 0.94%, at 10,153.69 and the Dow Jones unofficially fell, losing 74.66 points, or 0.29%, to end at 25,738.22.

US economy is rapidly recovering

As for the US data, a reading of 52.6 pts for the ISM manufacturing index indicates the US economy is rapidly recovering, noted analysts at ANZ Bank.

The 9.5 pt lift was the largest monthly rise since August 1980. New orders lifted sharply lifting to 56.4 pts from 31.8 while production increased from 33.2 pts to 57.2. The employment sub-index was not so rosy with jobs still being shed but at a slower rate.

DJIA levels

 

Overview
Today last price25812
Today Daily Change228.00
Today Daily Change %0.89
Today daily open25584
 
Trends
Daily SMA2026084.8
Daily SMA5025019.08
Daily SMA10024605.26
Daily SMA20026268.72
 
Levels
Previous Daily High25714
Previous Daily Low25442
Previous Weekly High26428
Previous Weekly Low24976
Previous Monthly High27628
Previous Monthly Low24562
Daily Fibonacci 38.2%25545.9
Daily Fibonacci 61.8%25610.1
Daily Pivot Point S125446
Daily Pivot Point S225308
Daily Pivot Point S325174
Daily Pivot Point R125718
Daily Pivot Point R225852
Daily Pivot Point R325990

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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