Market Direction: BULLISH alert
issued 1/10/2019
Is the stock market going to climb higher?
Vote BULLISH (Up) or BEARISH (Down) in the upper right side bar, the current stock market direction weekly closing numbers. Leave a comment. Now for the news…
The economy
The S&P 500 increased 0.2% on Thursday to close out the holiday-shortened trading week. Leadership from the industrials sector (+1.1%) and a turnaround in the health care sector (+0.1%) contributed to the upside bias, as most sectors finished little changed.
The Nasdaq Composite finished flat, and the Russell 2000 lost 0.1%. The Dow Jones Industrial Average outperformed with a gain of 0.4%, helped in part by the positive reactions to earnings reports from American Express (AXP 113.67, +1.91, +1.7%) and Travelers (TRV 138.93, +3.06, +2.3%).
The industrials sector also benefited from a host of solid earnings reports, which included those from Union Pacific (UNP 176.66, +7.38, +4.4%), Honeywell (HON 169.06, +6.17, +3.8%), United Rentals (URI 136.00, +10.24, +8.1%), Danaher (DHR 126.77, +1.89, +1.5%), Dover (DOV 97.78, +0.98, +1.0%), and Snap-On (SNA 168.07, +10.23, +6.5%).
Upbeat results from the economically-sensitive sector, coupled with better-than-expected retail sales for March and a decline in weekly initial claims, provided investors with some assurance that the U.S. economy remains in good shape.
The health care sector increased just 0.1%, but the group had been down as much as 1.3% shortly after giving up its early advance. Yesterday's decline in the sector wiped out its yearly gain, and its resiliency to follow-through selling amid political concerns helped the broader market overcome early weakness.
In IPO news, Zoom Video Communications (ZM 62.00, +26.00, +72.2%) and Pinterest (PINS 24.40, +5.40, +28.4%) made their public debuts on Thursday. Zoom opened at $65.00 after pricing at $36.00, and Pinterest opened at $23.75 after pricing at $19.00.
U.S. Treasuries finished on a higher note, pushing yields lower across the curve. The 2-yr yield declined two basis points to 2.38%, and the 10-yr yield declined three basis points to 2.56%. The U.S. Dollar Index rose 0.5% to 97.46. WTI crude increased 0.4% to $64.03/bbl, overcoming some intraday weakness.
$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, write us. Share with a friend.
The market direction weekly closing numbers for the indexes this week compared to the initial BULLISH recommendation closing numbers:
Stock Market Closing Numbers
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compared to Recommendation Numbers
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1/10/2019
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4/19/2019
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Difference
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24,001.90
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26,559.54
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2,557.64
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6,986.07
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7,998.06
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1,011.99
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2,596.64
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2,906.03
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309.39
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