15 minutes ago
The S&P 500 is still more than 12% above its major moving averages, according to BTIG.
The S&P 500 is still more than 12% above its 200-day moving average, a level that historically has not remained above for long, according to BTIG.
This figure is calculated from the average closing price of the S&P 500 over the past 200 sessions. A broad index trading above this level is generally considered to be in an uptrend.
Currently, the S&P 500 is well above its 200-day average, so theoretically, the S&P 500 could pull back without falling below this key level. The S&P 500 closed at a new record on Monday, bringing its year-to-date gains to 12.4%.
“While this is not a sell signal in and of itself, historically the stock has not spent long above this level,” chief market technician Jonathan Krinsky told clients. “We remain tactically cautious here while opportunistically exploring individual stock ideas.”
Alex Harring
23 minutes ago
DXC rises on Reuters report of Apollo-Kindrill takeover bid
Information technology stock DXC Technology rose nearly 4 percent in after-hours trading after Reuters reported a joint takeover bid by Apollo Global and Kindrill Holdings.
The two companies are reportedly considering offering $22 to $25 a share for DXC, according to Reuters. Apollo shares were little changed in after-hours trading, while Kindrill was down more than 1 percent.
Alex Harring
56 minutes ago
Stock futures little changed
Stock futures were roughly flat just after 6 p.m. ET.
Dow futures were down nearly 0.1%, while S&P 500 and Nasdaq 100 futures traded just below flat.
Alex Harring
