NASDAQ on pace for its first down week after 7 weeks higher

Although the major indices are higher to start the new trading day helped by US employment report which was neither too strong or too weak, the indices for the trading week are lower.

For the NASDAQ index, its seven week win streak is on pace to be broken. All good things have to end.

A snapshot of the market currently shows:

• Dow industrial average is up 332.23 points or 0.80% at 42095.69
• S&P index is up 40.25 points or 0.71% at 5745.70
• NASDAQ index is up 150.66 points or 0.83% at 18245.81

For the trading week:

• Dow industrial average near unchanged at -0.03%
• S&P index -1.07%
• NASDAQ index -1.47%

The small-cap Russell 2000 is up 22.80 points or 1.04% at 2219.62. For the trading week the index is positive by 0.53%.

Looking at some of the major large-cap stocks:

• Nvidia, +2.20%
• Meta, -0.32%
• Apple after earnings -1.17%
• Amazon after earnings +6.57%
• Alphabet, +0.35%
• Microsoft +1.30%
• Tesla +1.52%

Intel shares are up 6% after earnings, but 6% at $22.72 is a lot different than 6% at $50 where the price was at the end of December 2023

Chevron shares are up 4.266% after earnings. Exxon is up 0.87% after the earnings.

Super Micro Computers is down another -4.64%. For the week the shares are down -40.34% after they lost their auditor who quit. SMCI denies any problems.

This article was written by Greg Michalowski at www.forexlive.com.