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Week ago today, the month of April ended with the NASDAQ index down over 13%. The market rallied on Monday, Tuesday, and Wednesday getting the month of May off to a good start. However yesterday’s sharp declines, and follow through selling today push the major indices lower on week. In other words the markets snatched defeat from the jaws of victory.
A look at the final numbers shows:
- Dow industrial average -98.6 points or -0.3% at 32899.38. The index close at 32977 last Friday. The index fell -0.23% this week.
- S&P index -23.51 points or -0.57% at 4123.35. The index closed at 4131.92 last Friday. The index fell This week -0.21% this week
- NASDAQ index -173.02 points of -1.4% at 12144.67. The NASDAQ closed at 12334.64. The index fell -1.54% this week.
- Russell 2000 fell -31.58 points -1.69% at 1839.56. It settle that 1864.10 last Friday. The index fell 1.37% this week.
This was the first stretch of five weekly declines in the S&P 500 since May-June 2011 and the first five-week losing streak in the Nasdaq since 2012.
Next week CPI data takes center stage. More Fed speak as well.
This article was originally published by Forexlive.com. Read the original article here.