Higher by 163 points in the 11:00 am hour, Dow stocks gave back nearly 100 points, or roughly two-fifths of their value by the end of the day.
With most major companies having already reported first quarter earnings, this may turn into a rather dull week, though Tuesday's trifecta of economic data releases - NY Fed Manufacturing, Retail Sales, and Durable Goods - may provide suitable trading fodder.
On Wednesday, Macy's (M) reports prior to the market open, while Cisco Systems (CSCO) reports after the close.
Thursday may be the most impactful session, as retailers Wal-Mart (WMT), Nordstrom (JWN), and JC Penney (JCP) each report before the opening bell.
Thus far, nearly at the halfway point of the month, "sell in May" has not been the preferred trading regimen. Rather, a family strong counter-rally has been tearing along, leaving the Dow at its best level in nearly two months.
Dow Jones Industrial Average May Scorecard:
Date | Close | Gain/Loss | Cum. G/L |
5/1/18 | 24,099.05 | -64.10 | -64.10 |
5/2/18 | 23,924.98 | -174.07 | -238.17 |
5/3/18 | 23,930.15 | +5.17 | -233.00 |
5/4/18 | 24,262.51 | +332.36 | +99.36 |
5/7/18 | 24,357.32 | +94.81 | +194.17 |
5/8/18 | 24,360.21 | +2.89 | +197.06 |
5/9/18 | 24,542.54 | +182.33 | +379.39 |
5/10/18 | 24,739.53 | +196.99 | +576.38 |
5/11/18 | 24,831.17 | +91.64 | +668.02 |
5/14/18 | 24,899.41 | +68.24 | +736.26 |
At the Close, Monday, May 14, 2018:
Dow Jones Industrial Average: 24,899.41, +68.24 (+0.27%)
NASDAQ: 7,411.32, +8.43 (+0.11%)
S&P 500: 2,730.13, +2.41 (+0.09%)
NYSE Composite: 12,772.04, +10.22 (+0.08%)
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