Dow and S&P end at fresh record highs, lifted by Netflix earnings and tech stocks

Dow and S&P end at fresh record highs, lifted by Netflix earnings and tech stocks

By David French

Fri October 18, 2024 4:49 PM

Tech got a big boost today mainly due to a great report from Netflix for blowing through estimates for subscriber additions. Netflix has now become the best performing of all the Magnificent 7 stocks, outstripping even Apple, far outstripping Alphabet and achieving more than triple the return of the S&P index, which itself has also done quite well. In fact, both the Dow and S&P reached record highs again with all three indexes securing a sixth weekly gain.  

Dow ends at another record high as chip stocks, retail data support

Dow ends at another record high as chip stocks, retail data support

By David French

Thu October 17, 2024 4:00 PM

Healthier than expected retail sales data confirming a continuing robust economy combined with an unexpected drop in unemployment benefits boosted the Dow to another record close, its 4^th in the last 5 sessions, and an optimistic forecast from the world largest chipmaker (Taiwan Semiconductor) buoyed the chip index too, though overall the tech indexes were choppy and closed flat. But solid Q3 data gave the Dow another nice 3-digit gain. More banks also turned in solid Q3 reports shooting the bank index to a 5^th straight advance. Volume came in at 11.3 billion, again shy of the 12 billion average. 

DJ: 43,077.70  +337.28      NAS: 18,367.08  +51.48      S&P: 5,842.47  +27.21        10/16

DJ: 43,239.05  +161.35      NAS: 18,373.61  +6.53        S&P: 5,841.47  -1.00          10/17

Thu 10-17-24 4:00 pm Dow ends at another record high as chip stocks, retail data support | Reuters

Dow ends at another record high as Wall Street buoyed by banks, small-caps

Dow ends at another record high as Wall Street buoyed by banks, small-caps

By David French

Wed October 16, 2024 5:45 PM

It was a shot straight up on all three indexes today following yesterday’s substantial decline when banks came in with less than stellar Q3 and tech also taking a hit. But, Wednesday saw more banks with terrific Q3 and that combined with another renewed optimism in tech, particularly AI, with the Dow reaching still another record. Nvidia also had a very good day recouping much of Tuesday’s losses. 

Wall Street indexes end lower as chip, oil stocks drop 10-15-24

Wall Street indexes end lower as chip, oil stocks drop  

By Sinéad Carew and Lisa Pauline Mattackal

Tue October 15, 2024 6:56 PM

After both the Dow and S&P reaching record highs yesterday, Tuesday saw a pullback with downward pressure from chip stocks and energy bringing down the tech indexes, particularly with Nvidia falling nearly 5%, bringing the overall chip index down over 5% and creating a ripple effect into the other indexes.  

S&P 500 ends at fresh record high, as Dow scales 43k for first time

S&P 500 ends at fresh record high, as Dow scales 43k for first time

By David French

Mon October 14, 2024 4:56 PM

It was a straight shot up on all the indexes with the Dow and Nasdaq both achieving respectable 3-digit gains again and the Dow passing 43,000 for the first time, both the Dow and S&P once achieving scaling new records. It was the market still riding the wave of enthusiasm from Friday’s terrific Q3 reports from the banks and looking for more of the same in the weeks ahead. More bank data is due on Tuesday. The big concern right now is that valuations are stretched so far above the historical average that Q3 must prove they are justified. In any event, today was a holiday with the bond markets closed so volume at 9.5 billion remains well below the 12 billion average. 

DJ: 42,863.86  +409.74      NAS: 18,342.94  +60.89      S&P: 5,815.03  +34.98          10/11

DJ: 43,065.22  +201.36      NAS: 18,502.69  +159.75    S&P: 5,859.85  +44.82          10/14

Mon 10-14-24 4:56 pm S&P 500 ends at fresh record high, as Dow scales 43k for first time | Reuters

S&P 500, Dow hit records, boosted by bank earnings surprise

S&P 500, Dow hit records, boosted by bank earnings surprise

By Sinéad Carew and Lisa Pauline Mattackal

Fri October 11, 2024 4:33 PM

Q3 earnings got started with a bang today with several big banks exceeding estimates and, as the financial sector is considered a bellwether for the rest of the market, this increased confidence and shot all three indexes substantially into positive territory and to pushing both the Dow and the S&P once again to new record highs. All three indexes also marked five straight weeks of gains while today’s PPI reading has now got the market convinced of the coveted soft (or no) landing and that inflation will continue to be moderate. As Q3 is just getting started, volume remains below the 12 billion-average, coming in at 10.27 billion. 

Wall Street ends slightly lower after higher than expected inflation, jobless claims

Wall Street ends slightly lower after higher than expected inflation, jobless claims

By Sinéad Carew and Lisa Pauline Mattackal

Thu October 10, 2024 4:39 PM

It was quite a volatile day with the indexes swinging back and forth wildly, the Dow ranging 3 times between a minus 200 and near break-even. Today’s triggers were just slightly off CPI and unemployment claims reports and, though just slightly, the CPI showed inflation heating up a little while the unemployment claims pointed to a mildly weakening economy. There were also conflicting messages from two Fed governors today regarding future rate cuts, and this might have accounted for the sudden surge at 3 pm to break-even after big losses prior to that. Investors now look to Q3, which begins on Friday. Volume remains below the 12.06 billion 4-week average at 11.02 billion. 

DJ: 42,512.00  +431.63      NAS: 18,291.62  +108.70      S&P: 5,792.04  +40.91        10/9

DJ: 42,454.12  -57.88         NAS: 18,282.05  -9.57           S&P: 5,780.05  -11.99        10/10

Thu 10-10-24 4:39 pm Wall Street ends slightly lower after higher than expected inflation, jobless claims | Reuters