The correction was one day – at least for the S&P and the Nasdaq.
Today, all the major indices are enjoying strong gains.
- For the S&P, it erased its -49.37 or -0.88% decline yesterday. It is currently up 70.83.41.27 percent at 5655.26. That would be good enough for a new record close. The high close from Wednesday was at 5633.92.
- For the Dow industrial average, it is the following up gains of 429 points on Wednesday, 32 points on Thursday with a gain of 467 point currently or 1.17%. That has the price trading at 40,220. The all-time high close going back to May 17 was at 40,003.60. Today the index is on pace for a record close.
Meanwhile the NASDAQ index is the best performer with a gain of 1.39% or 254 points at 18538.50. However, yesterday it plunged 364.04 points. So despite the large gain (and the largest percentage gain since June 12). The index is on pace to close below its all-time record reached on Wednesday at 18647.45.
Nevertheless, the gains today in all the indices are impressive, WITH the broader market participating including the Dow 30.
By the way:
- The small-cap Russell 2000 this up 26.24 or 1.24%after surging 3.57% yesterday. For the week the index is up 6.14%
European indices all closed higher on the day and for the week:
- German DAX, +1.15% today and up 1.48% for the week
- France CAC, +1.27% for the day and +0.63% for the week
- UK FTSE 100, +0.36% for the day and +0.60% for the week
- Spain’s Ibex, +0.72% for the day and +2.06% for the week
- Italy’s FTSE MIB +0.76% for the day and +1.74% for the week
This article was written by Greg Michalowski at www.forexlive.com.
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