On Friday, the big news was President Trump and China going back and forth on tariffs. Although we didn’t really have any changes over the weekend, trade war concerns were on everyone’s mind heading into the new week. And things looked pretty ugly at the open.
The major indices were all lower this morning and continued their slide after trading got underway. But approximately 10 minutes after the U.S. open, buyers stepped in and major indices rallied.
By the end of the day, the NASDAQ was slightly positive. But the S&P and DOW never made it into positive territory and the DOW finished lower for the 5th day in a row. All things considered, it could have been a lot worse!
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Here’s where the major indices ended the day:
- The S&P finished with a 0.2% loss. Down 6 points, the S&P ended at 2,774.
- The DOW ended 0.4% lower. Dropping 103 points, the DOW closed at 24,987.
- The NASDAQ was flat. With less than a 1 point gain, the NASDAQ finished at 7,747.
- Bitcoin ended 3.0% higher. Adding $195, Bitcoin is trading at $6,735.
Crude Oil (CL) bounced back after a rough Friday. Up 1.2%, CL ended at $65.86 a barrel.
Elon Musk has a message for Tesla (TSLA) short sellers…you have “about three weeks before (your) short positions explodes!” The CEO tweeted the message over the weekend. Tesla was up 3.5% today and is up about 20% since Musk promised 3rd quarter profitability, vowing to hit Model 3 production targets by the end of June.
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Source: RockwellTrading by Markus Heitkoetter | Original Link