Ding. Ding. Ding. Stocks close lower as debt ceiling talks stall.

The major US stock indices are ending the day lower. The excuse will be the debt ceiling talks stalling (for now), but if there was a lot of worry, the stock market would be down much more.

Technically, however, the S&P index could not close above the 4200 natural level (it is closing at 4191.99), nor could the price of the S&P close above its 100-week moving average at 4201.1. Close but no cigar. That could be problematic from a technical perspective. It will take a move above the 100-week moving average next week to give the buyers more ammunition for further upside probing. Absent that and we could be in store for a corrective week.

Although closing lower, the major indices are closing higher in the week.

The final numbers are showing:

• Dow industrial average -109.30 points or -0.33% at 33426.64.
• S&P index -6.07 points or -0.14% at 4191.99
• NASDAQ index -30.95 points or -0.24% at 12657.89

For the trading week, the major indices
Indices

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track
Read this Term are closing higher:

• Dow industrial average eked out a 0.38% gain.
• S&P index close up 1.65%
• NASDAQ index was the beginner with a 3.04% rise

Big winners included AI stocks:

• Nvidia up 10.31%
• Alphabet +4.48%
• Microsoft +3.03%

Another AI stock, Adobe rose 3.05% today and was up 10.73% on the week. Adobe will announce its earnings on June 15. Nvidia will announce its earnings next Wednesday after the close. Both earnings
Earnings

A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation’s operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price

A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation’s operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price
Read this Term will be important in the short term for the AI euphoria.

The KRE Etf of regional banks closed lower on the day by -1.78%, but was still up 7.81% on the week on less banking fear. Neverthless, Treasury Sec. Yellen did warn that there may be more consolidation in the banking sector, and that reversed earlier gains.

PS. Technically, the KRE price tested the 200-hour MA at the highs today (at $40.36 – green line) before rotating lower. That did not help as the recent price history shows, the 200 hour MA is a level for sellers to lean against. However, the price is closing above the 100-hour MA at $37.88. The price is in a neutral area technically between the 100 and 200 hour MAs.