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Market indexes have turned around their slow start to the week, heading higher across the board: the Dow gained 254 points, +0.74%, the S&P was up an even +50 points, +1.13%, the Nasdaq won the day, +270 points or +1.95% and the small-cap Russell 2000 rose 22 points, or +1.08%. Should this trend continue throughout the week, it will be the second-straight weekly trading period in the green.
In fact, over the past five trading days, the Dow is +2.66%, the S&P +4.38%, the Nasdaq +6.76% and the Russell +4.14%. But year to date, the indexes are still all down, from -4.86% on the Dow to -10.89% on the Nasdaq. The tech-heavy Nasdaq was the biggest gainer in the past two years, getting big bids on present technologies designed to become only more relevant in the future.
But first supply-based inflation (which grew into something much less “transitory”), and now the war in Eastern Europe, are bringing the Nasdaq dow to harsher realities. So even though the tech-strong index was the biggest gainer on the day and for the past week, it’s still got the farthest way to travel before it’s back to its all-time highs set in November. The Dow and S&P both set their all-time closing records in the first trading days of 2022.
Year over year, all the major indexes are back in the green with the exception of the Russell, which is still off by -4.45%. That said, the most recent bearish sentiment coming from Ukraine and spreading out through the global economy has by far the least to do with the small-cap index, which tends to carry companies where nearly all their business is conducted within the U.S. Thus, in more trying days on the market — we’re certainly not finished with those for a while — we expect the Russell 2000 to generally fare better than its counterparts.
Flagship software developer Adobe Systems (ADBE - Free Report) posted record revenues in its Q1 earnings report issued after the closing bell, with earnings topping estimates by 3 cents to $3.37 per share on all-time high quarterly sales of $4.26 billion — up +9% year over year. Digital Media led the way with $3.11 billion of those revenue dollars. Yet shares are down more than -2% on the news, taking the company’s year-to-date total -17% and barely breakeven (+1.36%) year over year.
Image: Shutterstock
Indexes Turn Green 4th Day Out of Last 5
Market indexes have turned around their slow start to the week, heading higher across the board: the Dow gained 254 points, +0.74%, the S&P was up an even +50 points, +1.13%, the Nasdaq won the day, +270 points or +1.95% and the small-cap Russell 2000 rose 22 points, or +1.08%. Should this trend continue throughout the week, it will be the second-straight weekly trading period in the green.
In fact, over the past five trading days, the Dow is +2.66%, the S&P +4.38%, the Nasdaq +6.76% and the Russell +4.14%. But year to date, the indexes are still all down, from -4.86% on the Dow to -10.89% on the Nasdaq. The tech-heavy Nasdaq was the biggest gainer in the past two years, getting big bids on present technologies designed to become only more relevant in the future.
But first supply-based inflation (which grew into something much less “transitory”), and now the war in Eastern Europe, are bringing the Nasdaq dow to harsher realities. So even though the tech-strong index was the biggest gainer on the day and for the past week, it’s still got the farthest way to travel before it’s back to its all-time highs set in November. The Dow and S&P both set their all-time closing records in the first trading days of 2022.
Year over year, all the major indexes are back in the green with the exception of the Russell, which is still off by -4.45%. That said, the most recent bearish sentiment coming from Ukraine and spreading out through the global economy has by far the least to do with the small-cap index, which tends to carry companies where nearly all their business is conducted within the U.S. Thus, in more trying days on the market — we’re certainly not finished with those for a while — we expect the Russell 2000 to generally fare better than its counterparts.
Flagship software developer Adobe Systems (ADBE - Free Report) posted record revenues in its Q1 earnings report issued after the closing bell, with earnings topping estimates by 3 cents to $3.37 per share on all-time high quarterly sales of $4.26 billion — up +9% year over year. Digital Media led the way with $3.11 billion of those revenue dollars. Yet shares are down more than -2% on the news, taking the company’s year-to-date total -17% and barely breakeven (+1.36%) year over year.
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