: S&P 500, Nasdaq weakness belie bullish market breadth
The S&P 500 SPX and the Nasdaq Composite COMPare falling, in the aftermath of another Federal Reserve interest rate hike, but exchange data on market breadth suggest the broader stock market is actually rising. The number of advancing stocks outnumbered decliners 1,653 to 1,121 on the New York Stock Exchange and 2,226 to 1,735 on the Nasdaq. And volume in advancing shares made of 61.2% of the total NYSE volume and 58.0% of Nasdaq volume. Meanwhile, the S&P 500 slipped 0.2% and the Nasdaq shed 0.3%. Meanwhile, the Dow Jones Industrial Average rose 57 points, or 0.2%, with 20 of 30 components gaining ground. The Dow was on track for a 13th-straight gain, which would be the longest win streak seen since 1987.
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