It was a lively day in terms of price action as US stocks started very strongly, then sold off and eventually fell into negative territory in the mid-afternoon. Bids arrived late though and US stocks marched all the way back close (but not above) the intraday highs. In the last 10 minutes of trading, there was more selling.
- S&P 500 +0.3%
- Nasdaq Comp +0.7%
- DJIA +0.1%
- Russell 2000 +0.7%
- Toronto TSX Comp +0.3%
On the week:
- S&P 500 +0.7%
- Nasdaq Comp +2.2%
- DJIA +0.7%
- Russell 2000 -1.2%
- Toronto TSX Comp -0.3%
On the month:
- S&P 500 +2.3%
- Nasdaq Comp +4.7%
- DJIA +2.5%
The six-month winning streak in the S&P 500 is the longest since 2021.
I continue to think the Russell 2000 remains the most-compelling chart but I fear it’s being driven by a couple dozen meme stocks that are now the largest components.
