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Make it 10 for the Dow. The Dow gained 35-points on the day for a 10th straight day of gains. The broader indices were mixed with the S&P 500 up 1 while the Nasdaq, small
It's getting difficult to write these market summaries lately, without sounding like a broken record, but once again stocks got stronger as the day went along. The difference yesterday was that we finally saw a little bit of selling in the broader market indices despite the Dow being up for a 9th straight day gaining another 33-points.
The consistency of strong closes in the stock market over the last several weeks has been remarkable. No matter how much pressure the bears may try to put on during the day, we have seen buying into the close repeatedly. The Dow ended the day up another 119-points with gains at or near 0.50% across the board.
Stocks spent most of the day on Thursdays with modestly negative returns but rallied into the close to end the day mixed and nearly flat. The S&P was down for the first time in 8 days while the Nasdaq 100 (QQQ) was down for the first time in 10, if you want to call -0.03% a loss. The Dow was up 8-points so that's 6 positive days in a row.
Stocks opened lower again on Wednesday but it didn't take long for that to turnaround, and more comments from President Trump about his new tax plan sent stock flying into the afternoon with solid gains and new highs across the board.