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The US stock indices retraced some/all of the declines seen this week with a rebound in the major indices.

The NASDAQ index led the gains today, and has also erased the losses from Monday and Tuesday’s trade. The S&P and Dow are still on pace for a decline this week, but the declines have been pared.

A snapshot of the final numbers shows:

  • Dow industrial average rose 127.17 points or 0.39% at 33129.54
  • S&P index rose 34.27 points or 0.81% at 4263.73
  • NASDAQ index rose 176.53 points or 1.35% at 13236.00

For the trading week with 2 more days to go, the Dow and S&P are still negative, but the NASDAQ is marginally higher:

  • Dow industrial average is down -1.13%
  • S&P index is down -0.57%
  • NASDAQ index is up 0.13%

Lower interest rates today helped the indices:

  • 2-year yield 5.049%, -9.8 basis points
  • 5-year yield 4.720%, -8.2 basis points
  • 10-year yield 4.7 to 8% -7.3 basis points
  • 30-year yield 4.860% -7.6 basis points

Looking at the 11 S&P sectors, all but 2 or higher today led by:

  • Consumer discretionary up 1.97%
  • Communication services up 1.29%
  • Information technology up 1.25%
  • Materials up 1.20%
  • Real estate up 1.13%

Leading the downside were energy and utilities. Energy tumbled -3.36% as oil prices fell over 5%. Utilities, despite the fall in yields, was still down -0.09% as that sector deals with higher rates for longer increasing capital expenditure costs and the crowding out by other yield options to investors.

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