The Dow Jones Industrial Average ($DJI) ended the day on Friday with a gain of 96.50 points, or 0.76%, and closed at 12,720.48. Just over half of the Dow's thirty index components posted a gain. The strongest performers were Microsoft (MSFT) (+5.65%), IBM (IBM) (+4.43%), and Hewlett-Packard (HPQ) (+3.61%). The losers were Home Depot (HD) (-1.98%) and American Express (AXP) (-1.79%). The Dow ended the week higher by 2.4%. Year-to-date, the index is up 4.12%.
The S&P 500 ($SPX) finished the session with a gain of 0.88 points, or 0.07%, and closed at 1,315.38. The top performing industry groups were the techs thanks to strong earnings from Intel (INTC), IBM (IBM), and Microsoft (MSFT), while utilities were the weakest. The top individual percentage performers were Sears Holdings (SHLD) (+13.03%), Microsoft (MSFT) (+5.65%), and Suntrust (STI) (+5.19%). The top decliners were Google (GOOG) (-8.38%), Intuitive Surgical (ISRG) (-6.10%), and Capital One Financial Corp. (COF) (-5.62%). Google (GOOG) had a rough session after its earnings fell short of analysts' estimates. The S&P 500 ended the week higher by 2.04% and is up 4.59% year-to-date.
The Nasdaq Composite ($COMPX) ended the session lower by 1.63 points, or 0.06%, on Friday and it closed at 2,786.70. The index ended the week higher by 2.8% and is up 6.97% year-to-date. The strongest performers in the Nasdaq-100 ($NDX) on Friday were Sears Holdings (SHLD) (+13.03%), Microsoft (MSFT) (+5.65%), and Monster Beverage Corp. (MNST) (+3.53%). The weakest were Google (GOOG) (-8.38%), Intuitive Surgical (ISRG) (-6.10%), and Life Technologies Corp. (LIFE) (-3.26%).
Nasdaq Composite (Figure 3)
Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.
Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.