🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Stocks And ETFs Hit Ceiling Again

Published 10/18/2012, 02:15 AM
Updated 05/14/2017, 06:45 AM
NDX
-
DJI
-
US2000
-
INTC
-
IBM
-
AXP
-
NWSA
-
DIDA
-
US stock indexes and ETFs hit the ceiling again today, unable to climb above recent highs

U.S. stocks advanced slightly yesterday on strong economic news from the home builder sector but weak earnings news.

New construction hit a high not seen since 2008 while IBM and Intel disappointed. In the after hours session, American Express added to the companies missing earnings expectations.

Spain remains a question mark as the country tries to dodge a formal bailout request and Moody’s kept the country out of junk status.

Major U.S. Index ETFs:

Dow Jones Industrial Average (NYSEARCA:DIA) +0.04%

S&P500 (NYSEARCA:SPY) +0.4%

Nasdaq 100 (NYSEARCA:QQQ) -0.1%

Russell 2000 (NYSEARCA:IWM) +0.85%.

So stocks remain stalled at recent resistance levels and VIX, the CBOE S&P 500 Volatility Index, also known as the “fear” indicator, fell slightly, dropping below its 50 day moving average of around 15.

Bottom line: It was a quiet day on Wall Street as earnings news dampened positive economic reports. The interplay between earnings and economic reports will continue today.

Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer, Terms of Service, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.