U.S. markets were mostly weak during the first half of trading, but improved off the morning lows heading into the Fed minutes. The small-caps gave an early signal the major indexes could extend their winning streak for a 3rd-straight session as they traded in positive territory within an hour of the open. However, there was little reaction to the Fed news afterwards, despite a more cautious tone with the market finishing mixed for the session.
The Russell 2000 gained 0.2% after reaching a peak of 1,551 while closing higher for the 5th time in 6 sessions. The Nasdaq slipped 0.4% despite making a run to 7,128 but was able to hold the 7,000 level for the 2nd-straight session.
The Dow dropped 0.9% after trading in negative territory throughout the day with the low tapping 24,150. The S&P 500 stumbled 0.6% after testing a low of 2,639 with the 50-day moving average officially falling below the 100-day moving average and is typically a bearish development.
U.S. markets rallied and closed higher for a second-straight session after comments made by Chinese President Xi Jinping. His remarks suggested a lesser aggressive approach with respect to trade and tariffs, which helped to ease concerns about an escalating conflict between the world’s two largest economies. However, volatility remained slightly heightened and above a key level of support ahead of tomorrow’s FOMC minutes.
The Nasdaq jumped 2.1% after making an intraday push to 7,117 and its 100-day moving average while recovering the 7,000 level in the process. The Russell 2000 surged 1.9% after tapping an intraday high of 1,548 while closing back above its 50-day moving average for the first time in a dozen sessions.
The Dow rallied 1.8% on its run to 24,511 to regain the 24,000 level with last week’s peak of 25,611 the next key hurdle to clear. The S&P 500 soared 1.7% after testing a high of 2,665 but remains roughly 2% away from clearing its 50-day moving average.
U.S. markets showed strength on the open and throughout the first half of action as the official start of 1Q earnings season heats up this week. Today’s rebound from Friday’s drubbing was slightly bullish but the final hour pullback on light volume was more bearish with the indexes closing well off their intraday highs. The technical outlook remains shaky if the market can’t keep any momentum with volatility remaining slightly elevated.
The Nasdaq rallied 0.5% after reaching a peak just south of 7,075 intraday but closed below the 7,000 level for the second-straight session. The S&P 500 added 0.3% after trading to a high of 2,653 while holding the 2,600 level for a 5th-straight session.
The Dow advanced 0.2% after making a run to 24,373 but was unable to hold the 24,000 level for the second-straight session. The Russell 2000 was up 0.1% after tapping an intraday high of 1,533 and has been holding the 1,500 level for five-straight sessions.
U.S. markets suffered steep losses on the open but rebounded off the lows following another round of tough tariff talk. China‘s response on U.S. products worth about $50 billion renewed trade war concerns in retaliation for the U.S. tariffs on $50 billion worth of Chinese goods. Volatility spiked but settled lower as the major indexes revisited early February lows while closing higher for the session.
The Nasdaq was up 1.5% after trading to a low of 6,811 on the open before rebounding to clear and hold the 7,000 level afterwards. The Russell 2000 rallied 1.3% after testing a low of 1,491 but was able to hold 1,500 for the second-straight session.
The S&P 500 added 1.2% after bottoming at 2,573 on the opening but easily cleared and held the 2,600 level into the closing bell. The Dow gained 1% despite tapping a low of 23,523 while holding its yearly bottom of 23,360. The index easily held the 24,000 level on the rebound and it was the first time the index has finished higher after being down over 500 points intraday.