The major US
indices are all closing higher on the day and near session highs.
- The Dow is up for the third consecutive day
- The Russell 2000 is up for the fourth consecutive day
- the Dow is closing 2.8% from its record high close
- S&P is closing 4.4% from its record high close(4.8% from its all-time intraday high)
NASDAQ closes 9.8% from its record high close- S&P closed above its 100 day moving average at 4571.93
The final numbers for the day are showing:
- Dow industrial average up 305.26 points or 0.86% at 35768.05
- S&P index up 65.64 points or 1.45% at 4587.19
- NASDAQ index up 295.93 points or 2.08% at 14490.38
- Russell 2000 up 38.12 points or 1.86% at 2083.49
Looking at the daily chart of the S&P index, it moved up to test the high price from last week at 4595.31. the 100 day moving average comes in at 4571.93. Last Wednesday, the price also closed above its 100 day moving average only to open below that moving average on Thursday and run down to test the 200 day moving average on Friday. Support buyers came in against the 200 day moving average and have pushed the price up three of the last four trading days.
The move higher in stocks led to some risk on flows into the AUD and the NZD. The CAD also moved higher on a relative basis. The GBP, JPY and USD were the weakest.