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Stocks opened higher on Friday after Thursday's positive reversal day. The indices couldn't really hold the opening prices as the Dow closed slightly lower on the day while the S&P gave up about half of its early gains. The Nasdaq and small caps led the way while bonds pulled back.
Stocks were mixed this week with modest gains in small caps while large caps fell short in their fight to break even. A news conference from Donald Trump mixed stocks up Wednesday with his vilified statements about the pharmaceutical industry that catalyzed a sell off in bio-tech stocks. The rise in stocks since the election has been attributed to investors betting on the economy friendly policies expected from the Trump administration. The news conference was an opportunity for investors to get
The market has been a little confused lately with big intraday swings the last few days. The nearly 200-point decline on Thursday morning was followed by a strong afternoon rally that recouped most of those losses, but the indices did close with modest losses. The Dow gave up 63-points while small caps lagged with a 0.53% decline.
It was quite a roller coaster ride for stocks on Wednesday as they rallied out of the gate in early trading and the Dow was up 117 by mid-morning. Comments from Donald Trump during a press conference about pharmaceutical companies sent bio-tech stocks plummeting and it triggered a "sell first, ask questions later", sell off. The volatility continued until about 1 PM when the buyers stepped up and took the indices toward intraday highs by the close. The Dow closed
Stocks were mixed again on Tuesday with the Dow shedding 32-points, the S&P 500 was flat, and the the Nasdaq was up solidly. Small caps and the Transportation Index had big days. Biotech stocks have been doing well helping the Nasdaq while recent weakness in the price of oil has held back the Dow and S&P.