Although the S&P 500 was headed for a fourth-straight gain, to within a fraction of its record close, the number of NYSE-listed stocks hitting new 52-week lows in intraday trade is above the number of stocks hitting new lows for a sixth-straight session. That would be the longest streak of new lows topping new highs since the eight-day stretch ending Nov. 4, 2016. On Wednesday, new lows reached 91 in morning trade, while new highs were at 65. The S&P 500 was up 0.3%, and has rallied 1.3% the past four sessions, and was just 0.4% away from its Aug. 7 record close of 2,480.91. On Nov. 4, the S&P 500 had closed at 2,085.18, or 4.8% below its previous record close of 2,190.15 on Aug. 15, 2016. During that streak of new lows above new highs, the S&P 500 had declined on each of those days.
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From:: Stock Market News