13 May 2014
Wall Street extends divergences in major indexes
FXStreet (San Francisco) - The US stocks market closed mixing green and red numbers as the Dow and the S&P set new highs while the Nasdaq logged a negative day.
Investors' confidence was fueled by the bottom line in the retail sales number as April data was weaker than expected but March number was revised up. The S&P 600 hits the 1,900 levels fir first time while the Dow closed at record high for second day.
With the DJIA and S&P reaching fresh all-time highs, it is significant that the Nasdaq, and the Russell 2000 (-1.02% on the day) are losing ground. It seems correlation in between major indexes is being broken.
The Dow Jones advanced 19.97 points or 0.12% to finish the day at 16,715.44; the S&P 500 added 0.80 pts or 0.04% to close at 1,897.45; while the Nasdaq Composite declined 13.69 points or 0.33% to end the session at 4,130.17.
Investors' confidence was fueled by the bottom line in the retail sales number as April data was weaker than expected but March number was revised up. The S&P 600 hits the 1,900 levels fir first time while the Dow closed at record high for second day.
With the DJIA and S&P reaching fresh all-time highs, it is significant that the Nasdaq, and the Russell 2000 (-1.02% on the day) are losing ground. It seems correlation in between major indexes is being broken.
The Dow Jones advanced 19.97 points or 0.12% to finish the day at 16,715.44; the S&P 500 added 0.80 pts or 0.04% to close at 1,897.45; while the Nasdaq Composite declined 13.69 points or 0.33% to end the session at 4,130.17.