Technical Analysis

Major indices close lower led by Amazon and concerns about Covid variant

Stocks close near session lows

Highlights for the day:

  • Dow S&P close lower for the third day in four sessions
  • Major averages post weekly losses
  • S&P has six straight monthly gain
  • NASDAQ snaps two day win streak
  • Dow S&P, NASDAQ post gains for July

Hurting the indices and market today was Amazon which fell -7.5% or $-269.94 after revenue shortfall and expectations towards lower revenue growth ahead. 

Airlines also fell sharply with American Airlines down -3.73% and United Airlines down -3.63%.  Concerns about Covid and restrictions starting to weigh on the airlines more.

The final numbers for the day are showing:

  • Dow -149.45 or -0.43% at 34935.08
  • S&P -23.88 points or -0.54% at 4395.27
  • NASDAQ -105.59 points or -0.71% at 14672.68
  • Russell 2000 -13.70 points or -0.62% at 2226.24

For the week: 

  • Dow fell -0.36%
  • S&P index fell -0.33%
  • NASDAQ index fell -1.11%

For the month:

  • Dow rose 0.87%
  • S&P index rose 1.8%
  • NASDAQ index rose 1.04%

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