Wall Street ends mixed while the Dow and S&P are just 0.5% from their record highs


  • Nasdaq moved back by 17.75 points, or 0.2%.
  • The Dow Jones Industrial Average climbed 37.07 points, or 0.1%, at 27,219.52.
  • The S&P 500 fell 2.18 points, down by 0.1%, to 3,007.39.

On easing US Chinese tensions and improved US data, the tone was upbeat on Wall Street to end of a positive week for US stocks. The benchmarks are a stone throw away from their all-time highs, with the DJIA rising 1.6% for the week and the S&P 500 adding 1% while the laggard, Nasdaq, advanced just 0.9%.

The Dow Jones Industrial Average climbed 37.07 points, or 0.1%, at 27,219.52 while the S&P 500 fell 2.18 points, down by 0.1%, to 3,007.39, and the Nasdaq moved back by 17.75 points, or 0.2%. The Dow and S&P are just 0.5% from their record highs while the Nasdaq is 1.9% from its all-time closing high.

US data coming in strong

As for US data, Retail Sales impressed, beating expectations at 0.4% month-on-month gain versus the 0.2% consensus expectation and 4.1% year on year making for the sixth straight month of positive growth which will certainly be something for the Federal Reserve to consider next week. "Manufacturing may be weakening, but the consumer sector remains as firm as ever. Rising wages and employment mean households have the confidence and the cash flow to keep spending. It also means that the Fed will stick with its "mid-cycle adjustment" line when cutting rates 25bp next week," analysts at ING Bank argued. 

DJIA levels

Technically, the index may struggle from here is obeying the bearish doji candle formation through the 27200s target. On the flip side, the 200-DMA is located at 25708 below the 21-DMA that sits just above the pivot. Further below lies the May and Jun lows in the 24700s as a double-bottom target.

DJIA

Overview
Today last price 27204
Today Daily Change 28.00
Today Daily Change % 0.10
Today daily open 27176
 
Trends
Daily SMA20 26340.8
Daily SMA50 26575.2
Daily SMA100 26309.48
Daily SMA200 25746.98
Levels
Previous Daily High 27312
Previous Daily Low 27114
Previous Weekly High 26866
Previous Weekly Low 25978
Previous Monthly High 27178
Previous Monthly Low 25216
Daily Fibonacci 38.2% 27189.64
Daily Fibonacci 61.8% 27236.36
Daily Pivot Point S1 27089.33
Daily Pivot Point S2 27002.67
Daily Pivot Point S3 26891.33
Daily Pivot Point R1 27287.33
Daily Pivot Point R2 27398.67
Daily Pivot Point R3 27485.33

 

 

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