Stock Indices Recap – 8/2/2017Posted 08/02/2017 3:40PM CT |
September S&P finished up 1.2 at 2473.5, 2.1 off the high and 9 up from the low.
September S&P E-Mini closed up 1.25 at 2473.5. This was 10.25 up from the low and 2.5 off the high.
After the Dow Jones industrial cash average broke through the 22,000 level, it appeared as if some investors decided to bank profits. In retrospect, the NASDAQ/”FANG” stocks have to be extremely disappointed in the lack of optimism following the latest Apple results and new all-time high in the shares of Apple. Perhaps the market in general decided to bank profits rather than hold through the near term wrangling between the US and China, or perhaps the broad market has fully factored the current earnings cycle.