Major indices close higher on the day and rally into the close

Technical Analysis

Dow up nearly 600 points as Fed concerns ease a bit.

All the major indices are closing higher on the day led by the Dow industrial average which rallied near 600 points. Stocks were supported by less hawkish than expected comments from Feds Bullard and Kaplan.

  • S&P rises for the first time five trading days
  • S&P has its best day since May 14.
  • S&P is now positive for the month of June
  • All S&P sectors close higher
  • Dow steps a five-day losing streak
  • All 30 Dow stocks close higher on the day
  • Dow has its biggest day in 3 months

The final numbers are showing

  • S&P index rose 58.25 points or 1.4% at 4224.70
  • NASDAQ index rose 111.10 points or 0.79% at 14141.48
  • Dow industrial average rose 586.57 points or 1.76% at 33876.65
  • Russell 2000+48.35 points or +2.16% at 2286.09

Leading the way in the Dow is American Express which rose 4.25%.  The tops 10 gainer include:

Others winners today include:

  • Schlumberger, +5.78%
  • Charles Schwab, +4.17%
  • Wells Fargo, +3.64%
  • DoorDash, +3.44%
  • PNC financial, +3.27%
  • General Dynamics, +3.07%
  • Marriott +2.96%
  • Emerson, +2.88%
  • Fed Ex +2.74%
  • Bank of America, +2.5%

Some of the losers today include:

  • GameStop, -6.44%
  • AMC, -6.01%
  • Uber, -3.2%
  • Crowdstrike, -2.96%
  • AMD, -2.45%
  • Biogen, -1.94%
  • AirBnB, -1.85%
  • Tencent, -1.8%
  • Square, -1.39%
  • Zoom, -1.3%

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