For the DOW, the advance/decline ratio was about 50%, with Travellers (insurer) and United Health being just two stand outs by adding about 118 points to the DOW, whereas the 4 biggest decliners (Amazon, Apple, IBM and Microsoft) subtracted 42 points from the DOW.
Had those 6 companies traded fairly neutral, the DOW would have closed down about 76 points.
It’s a quirky, flighty index for sure.
Company quarterly reporting builds steam all next week. Tuesday to Thursday there are quite a few economic indicator reports due out, and the Friday biggies are the PCE inflation reports.
Imo, expect volatility to continue as company profits and forward guidance act ying & yang with inflation/interest rates/timing concerns.
