There is every possibility that all the three indices, Dow Jones Industrial Average 2 Minute (INDEXDJX:DJI), S&P 500 (INDEXSP:INX) NASDAQ Composite (INDEXNASDAQ:IXIC) could close with a weekly gain reversing the previous two weeks trend of losing streak. However, it would be the Nasdaq that would outperform the other two indices this week.
Nasdaq closed in the red only on Tuesday with a loss of about 0.12 percent. On Monday, the index gained 0.89 percent while the gain on Wednesday and Thursday was 0.23 percent and 0.98 percent respectively. On the other hand, the Dow Jones closed higher on Monday and ended in the negative territory in the following two days to recover on Thursday.
In the second quarter of the current year, the Dow, S&P 500 and the Nasdaq dropped 0.03 percent, 0.30 percent and 0.57 percent respectively in the first week ended April 7. In the following week, the three indices shed 0.98 percent, 1.13 percent and 1.24 percent restively. Though the current week could ensure a gain for all the three indices if the current trend continued until the day of the trading session, the quarterly performance in the second quarter could still be in the negative.
At time of writing this, the Dow could close the week with a gain of 0.63 percent while S&P 500 could add 1.10 percent at the end of the current week. However, it would be the Nasdaq that could end the week with a strong gain of about 1.92 percent.
On the sectoral performance, while five sectors traded in the red, the other five traded in the green. Energy, Basic Materials, Cyclical Cons. Goods, Healthcare and Telecommunications services have shed 0.42 percent, 0.11 percent, 0.20 percent, 0.22 percent and 0.28 percent respectively. On the other hand, industrials, non-cyclical cons. Goods, financials, technology, and utilities have gained 0.10 percent, 0.21 percent, 0.07 percent, 0.01 percent and 0.38 percent respectively.
It was a lackluster trading on Friday. Therefore, the trend could change in the afternoon trading session that could alter the closing percentage.