Stocks bounced around quite a bit on Thursday, although the range was on the tight side, but we see that's there's a lot of indecision out there. The Dow ended the day down 40-points with minimal to modest losses across the board.
After the close Microsoft posted a big earnings report and in after hours trading it moved up to a level not seen since 1999. The Nasdaq futures jumped in sympathy because of its exposure to tech stocks, but the S&P
Once again we saw the indices fade into the close after some solid gains earlier in the day, but for a second day they held onto some of those gains despite the afternoon selling. It doesn't make for very bullish short-term charts, but it does still add to the Fund returns. The Dow gained 41-points.
Stocks gapped open higher on Tuesday but immediately we saw some profit taking during the first hour of trading. There was another round of buying but once again things deflated into the close and the big early gains turned into a moderately higher day. The Dow, up 139 early, finished the day up 76-points.
Stocks dipped on Monday with the Dow shedding 52-points while the broader indices gave up 0.20% to 0.30% on the day. For a second straight trading day stocks hit their highs near the open but drifted lower the rest of the day. Oil lost 1.6% on the day and the pressure on energy stocks seemed to be enough to guide the market lower.
Stocks closed higher on Friday, but it was far from a bullish day as we saw a 164-point early rally in the Dow turn into a 39-point gain by the close, which was the lows, while the S&P 500 and Nasdaq lost virtually all of their early gains as they both closed up less than a point.
S&P 500 (C fund)
||Dow Completion (S fund)
||EFA (I fund)
||Bonds (F fund)