Major stock market indexes fell on Friday afternoon, weakening in the past hour and approaching their lowest levels today. Smaller companies led the gains in the session, the last trading day of the third quarter.
The Nasdaq Composite reversed 0.3% lower, while the S&P 500 fell 0.5%. The Dow Jones Industrial Average did worse, falling 0.9%. Small company Russell 2000 led the indexes, up 1.2% after yesterday’s heavy selling.
Stock market closed in the third quarter
Volume on the New York Stock Exchange and Nasdaq were lower against the same time on Thursday.
Nasdaq 100 Index Tracker Invesco QQQ Trust (QQQ) decreased by 0.6%. The 10-year US Treasury yield was unchanged at 3.74%.
European markets rose slightly, with the German DAX up 1.2%, the Paris CAC 40 up 1.5%, and the London FTSE 100 up 0.2% at the close of the trading day.
August personal income rose 0.3%, in line with expectations. Personal consumption expenditures, which include durable and non-durable goods and services, rose 0.4%, slightly above expectations of 0.2%, indicating that consumers did not cut back on their spending.
Consumer sentiment came in below economists’ expectations, at 58.6 versus the consensus estimate of 59.5, as Americans remain pessimistic about the economic outlook.
Crude oil lost 1.6% to $79.97 a barrel. SPDR Select Energy ETF (XLE) rose 0.2%. Bitcoin rose 1.8% to $7,720.
Stock Market Winners and Losers: Animal Health Leads S&P
animal health specialist Charles River Labs (CRL) leads the S&P 500, up 5.6% and up above 21-day exponential moving average On the MarketSmith Schedule. The stock rose after Jefferies upgraded the stock to buy from hold with a price target of 240. The stock is on track for its biggest one-day increase since May 2020.
Aspen technology (AZPN) Gain 1% on Light the sound It runs from cup base with buy point from 210.69. The line relative force It has been trending steadily since March. company Specialist in engineering, procurement and construction in the energy and chemical industries. The stock has a high relative strength rating of 98 and a composite rating of 96.
world wrestling entertainment (WWE) added 1.4%, setting a new high for it line relative forceas it seems from blue dot on the MarketSmith chart. The stock is at a flat base with 75.33 buying points on the chart. The company has 97 strong EPS rating and 95 composite rating. It was WWE on Thursday IBD stock today.
nike (NKE) is down 11.9% despite exceeding first quarter sales of fiscal 2023 and earnings per share. But Nike saw inventories rise 44% and gross margin fall 2.2%. The stock price is currently below the low on April 13, 2020, when it closed at $84.46, according to market data from Dow Jones.
50 IBD winners include electric vehicle charging and fiber optic inventory
The Innovator IBD 50 ETF (fifty) added 0.9% adding more than the major indices in the stock market today.
Solar charging and electric vehicles company Shoals Tech Group (SHLS) up 4% following news of eMobility certification. Stocks are testing resistance at the 21-day line. The arrow has 92 Rated relative strength.
Manufacturer of optical fiber components and systems The field is empty (CLFD) rose 9%. The stock posted a sharp drop after peaking in late August, but it’s starting to make its way back up. The stock price rose above the 50 day moving average today. The company ranks first in the Telecom-Fibre Optics group, which ranks #51 out of 197 industries of IBD tracks.
Shock Wave Medical (SWAV) rose by 3% in a lighter volume, which is higher than it 21-day exponential moving average. The stock has a 98 relative strength rating and a 96 composite rating. Mutual funds own 71% of the stock, which indicates institutional support, which could be a positive signal for the stock.
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