The major averages tried to find firmer footing under October's slide this week but a steep selloff in technology stocks left the S&P 500 and NASDAQ at their lows for the month.
The major averages tried to find firmer footing under October's slide this week but a steep selloff in technology stocks left the S&P 500 and NASDAQ at their lows for the month.
An earnings miss from Intel (INTC) overnight triggered another steep selloff in technology and AI-related stocks today.
The technical condition of the market remains mixed as the period came to a close. Despite record highs from the NASDAQ and NDX 100, underlying breadth remains extremely weak. Fresh record highs in the tech heavy indexes were accompanied by more new 52-lows than new highs, a divergence that has occurred only twice before in market history...
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| Index | Close | Day Change | Day % Change | YTD % Change |
|---|---|---|---|---|
| NASDAQ COMPOSITE | 25437 | -747.72 | -2.86% | 9.44% |
| DJ UTILITIES | 1111.5 | 7.25 | 0.66% | 4.07% |
| DJ TRANSPORT | 20329.33 | 95.85 | 0.47% | 17.12% |
| DJ INDUSTRIALS | 51770.31 | -572.25 | -1.09% | 7.71% |
| NYSE COMPOSITE | 24293.09 | -224.13 | -0.91% | 10.4% |
| S & P 100 INDEX | 3737.4 | -76.71 | -2.01% | 8.89% |
| RUSSELL 2000 | 2811.84 | -47.38 | -1.66% | 13.29% |
| S&P 500 | 7580.07 | -140.32 | -1.82% | 10.73% |
| CBOE MKT VOLATILITY | 19.42 | 2.22 | 12.91% | 29.9% |
| AMEX COMPOSITE | 8588.94 | 263.53 | 3.17% | 25.08% |
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