- DJIA was climbing 73.92 points, or 0.3%, to 26,909.43.
- The Nasdaq Composite index dropped back a modest 3.28 points, or less than 0.1%, to 8,084.15.
- The S&P 500 index put up 0.96 points, or less than 0.1%, to 2,979.39.
On a relatively subdued day, U.S. stocks ended at the session highs on Tuesday with the Dow scoring a higher high, but only just. The Dow has now extended its win streak to five sessions, climbing 73.92 points, or 0.3%, to 26,909.43, while the S&P 500 index put up 0.96 points, or less than 0.1%, to 2,979.39. The Nasdaq Composite index dropped back a modest 3.28 points, or less than 0.1%, to 8,084.15.
US data disappoints
There was not a great deal in the way of US data, but the US NFIB small business optimism index dropped 1.6 pts to 103.1 in August. “Weakening expectations and a softer sales outlook contributed to the drop. On the positive side, hiring improved and the number of firms reporting profit increases rose. A record 57% of small business said that there were few or no qualified applicants for openings.” analysts at ANZ explained.
The US JOLTS for July also disappointed and fell to 7.22m, from 7.25m in June. “That was the lowest level in five months. However, the quits rate rose to 2.4%, its highest level since April 2001, suggesting that workers are confident in their ability to find a new job,” the analysts at ANZ explained.
DJIA levels
The DJIA has printed another higher high while climbing up above the psychological 26500s and holds in the 26900s target which guards the 27200s, and specifically, 27398 level. On the flip side, the 200-DMA is located at 25667. Deeper, the 21-monthly moving average is located at 25232 ahead of the May and Jun lows in the 24700s as a double-bottom target.
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