The Nasdaq fell 0.44%, while the Dow gained 195 points? 😮 Micron dragged the Nasdaq down
Monday (U.S. Eastern time, 10/12) close: The Dow rose 0.38% to 51,850, the S&P was basically flat (-0.06% to 7,807), and the Nasdaq fell 0.44% to 27,246. Micron dropped nearly 4%. News that China’s CXMT plans to mass-produce a new generation of memory chips hit semiconductor stocks across the board, sending the Philadelphia Semiconductor Index down 2.7%. The Dow has no memory-chip stocks, and Salesforce helped prop it up with a gain of over 2%.
ETFs: $SPY closed at 778, down 0.06%; $QQQ closed at 746, down 0.7%; small caps $IWM closed at 278, down 0.4%. Oil kept surging, with Brent at 106. The conflict on the Saudi side is still ongoing, and tech stocks don’t like that.
In my last post, I said the S&P might test 7,845. It didn’t make it this time; the intraday high was only 7,822. To be honest, I underestimated it. On the chart, Nasdaq support is at 27,050, with resistance at 27,400; S&P support is at 7,730, with resistance at 7,845.
CPI comes out Wednesday at 8:30 p.m. (Hong Kong time), with expectations around 3.7%—higher than August’s 3.4%. I’m not chasing before the data comes out; I’m sitting on the sidelines. If the Nasdaq can’t hold 27,050, I’ll lean bearish. Which side are you on? See you in the comments.
⚠️Just my personal rambling; this is not investment advice.
#美股 #纳斯达克 #S&P500
$SPY $QQQ $IWM
Monday (U.S. Eastern time, 10/12) close: The Dow rose 0.38% to 51,850, the S&P was basically flat (-0.06% to 7,807), and the Nasdaq fell 0.44% to 27,246. Micron dropped nearly 4%. News that China’s CXMT plans to mass-produce a new generation of memory chips hit semiconductor stocks across the board, sending the Philadelphia Semiconductor Index down 2.7%. The Dow has no memory-chip stocks, and Salesforce helped prop it up with a gain of over 2%.
ETFs: $SPY closed at 778, down 0.06%; $QQQ closed at 746, down 0.7%; small caps $IWM closed at 278, down 0.4%. Oil kept surging, with Brent at 106. The conflict on the Saudi side is still ongoing, and tech stocks don’t like that.
In my last post, I said the S&P might test 7,845. It didn’t make it this time; the intraday high was only 7,822. To be honest, I underestimated it. On the chart, Nasdaq support is at 27,050, with resistance at 27,400; S&P support is at 7,730, with resistance at 7,845.
CPI comes out Wednesday at 8:30 p.m. (Hong Kong time), with expectations around 3.7%—higher than August’s 3.4%. I’m not chasing before the data comes out; I’m sitting on the sidelines. If the Nasdaq can’t hold 27,050, I’ll lean bearish. Which side are you on? See you in the comments.
⚠️Just my personal rambling; this is not investment advice.
#美股 #纳斯达克 #S&P500
$SPY $QQQ $IWM