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NASDAQ 100 rallies on one earnings report, while Dow Jones Industrial Average barely moves
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FXStreet Forex & Commodities News
The Dow Jones Industrial Average (DJIA), which holds five of the same mega-cap constituents, is up around 200 points near 51,800.
The NASDAQ 100 carries all three of those stories and has still recovered more than 700 points from its low.
The Dow moves on dollars rather than percentages, at roughly six index points for every dollar of share-price movement across the thirty, so a 15% gain in one of its higher-priced constituents is worth north of 300 points on its own.
Above it, the declining 50-day EMA near 28,800 decides whether this is a rebound or a base, with the June peak just above 30,750 a distant reference.
The Dow Jones is the cross-check, its own 50-day EMA near 51,600 having held the session low exactly.