The NASDAQ was off 2% until the last hour of trade when someone purchased over $3 Billion worth of S&P 500 e-mini futures. There was no headlines or news to cause the spike. Fat finger> mistake? From Zero Hedge (emphasis mine),
Equities did it again - and no matter what narrative a mainstream media channel needs to comprehend the monkey-hammering that occurs every second in our 'market', it seems a fat-finger 50k block of S&P 500 e-mini futures (or around $3.3bn notional equivalent) was enough drive the nominal price index up 1% to close the day-session almost green (and rather notably right at yesterday's closing VWAP).
A look at the intraday action and late afternoon spike from my thinkorswim by TD Ameritrade screen,
Despite the pop, the market still finished in the red with the NASDAQ down .9% and the S&P 500 down .2%.
Late day spikes aside, today was big because of the decision on healthcare (won't elaborate here, for full details head over to the WSJ). Relevancy here is with healthcare stocks which have been outperforming the S&P 500 up to today and despite the decision were not affected too much before the close. Bespoke highlighted some of the leaders to keep an eye on,
As of the close HCA and AIRM, amongst other medical stocks were up big in favor of the ruling.
Updated market indices below. As usual there will be no recap tomorrow since it is Friday so stay frosty out there, have a fantastic weekend, and I will see you back here on Monday!