Dow closes at record high, Nasdaq leads afternoon up move


Stocks finished with modest gains but they were enough to lift the Dow to a new record close, in a session marked by little economic news to digest and the end of earnings season drawing near.

The consumer discretionary and health care sectors led late-day gains, and momentum stocks bounced back after a three-day slide; the Nasdaq led the major indexes higher but still ended its biggest weekly drop in four weeks after investors dumped tech and small-cap shares.

Treasurys spent most of the day anchored to their flat lines; the benchmark 10-year yield edged slightly higher to ~2.62%.

Comments (2)
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    Yellen gave the orders to buy buy buy into the close. BS manipulated low volume squeeze is most of what today was about! The easy money is over in the small cap momo names and the FED is just trying to avoid a real meltdown in a matter of days
    9 May 2014, 04:22 PM Reply Like
  • tjn6175
    , contributor
    Comments (46) | Send Message
     
    The S&P has had some wild intraday rides the last several weeks, despite the relatively flat day to day close activity. Momos and smalls finally started to outpace it today, while treasury prices hung low and flat. Barring weekend Ukraine, are we finally going to crack 1890 and gain support next week? Nasdaq, Russell, and treasury indices at least today seemed to be lined up for an S&P rise.
    9 May 2014, 11:14 PM Reply Like
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