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Stocks had their worst day since the Fed's rate hike two weeks ago. After opening in positive territory, the Dow ended the day with a 111-point loss pushing further away from its hyped 20,000 level. The broader indices like the S&P 500, Nasdaq, and small caps lost closer to 1%. There's no doubt that the early momentum has been fading into the close of late. Not usually a good sign but it could also change on a dime during a holiday week.
It was more typical light volume, positive biased, holiday action yesterday, although stocks peaked early in the day and drifted lower throughout the afternoon to close well off the highs. Still the Dow held onto an 11-point gain while small caps and the Nasdaq led the way again with solid gains.
Stocks were flat for most of the day on Friday, but some late buying pushed most indices into positive territory and the day ended with slight to modest gains. The Dow gained 15-points while the Nasdaq and small caps led the way.
It was another light volume, sideways to lower day for stocks as the normally strong week has been leaking in recent days, digesting the large gains it picked up leading into the holidays and since the election. The Dow lost 23-points while small caps were hit the hardest.
Stocks remained relatively flat most of the day before a late minor push lower. The Dow closed with a loss of 33-points and the 20,000 enthusiasts will have to wait another day. Volume was light and should remain light this week barring any surprises.