The major US stock indices are closing lower on the day, but higher for the week. This week, both the S&P and NASDAQ indices traded to the new all-time high levels.
The S&P index reached a site today of 5375.08. That is its new all-time record high. The gains could not be maintained and the price moved into negative territory by the close.
The NASDAQ index traded to a new record high yesterday at 17235.73. Today it’s high-price could only get to 17229.31 before rotating lower into the close.
The final numbers are showing:
- Dow industrial average fell -87.20 points or -0.22% at 36799.00
- S&P index fell -5.97 points or -0.11% at 5346.98
- NASDAQ index -39.99 points or -0.23% at 17133.13
For the trading week, the major indices rebounded from last week’s declines:
- Dow Industrial Average rose 0.29%
- S&P index rose 1.32%
- NASDAQ index rose 2.38%
Looking at some of the major large-cap stocks this week:
- Nvidia +10.29%.The company moved above $3T for the first time ever and was the second largest capitalized stock overtaking Apple, but has reversed positions into the close
- CrowdStrike, +11.42%
- Apple, +2.41%
- Microsoft, +2.10%
- Meta Platforms, +5.6%
- Palantir, +7.52%
- Amazon +4.455%
- Alphabet, +1.14%
- Tesla, -0.33%
The meme stock, Gamestop closed the week higher by 21.95% after falling -39.3% today. Roaring Kitty (ie.Keith Gill) went live on YouTube and rambled on and on with the best of them, but was not able to ignite any buying interest. Shares are closing the week at $28.22. .