Dow up more than 400 points!

Stocks bounced back today. And with today’s gains, the S&P and DOW are back in positive territory for the week.

The major indices were on the move early this morning with a nice rally to start the day. But 30 minutes into the trading session, stocks pulled back and had a hard time finding any direction.

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After the chop, stocks finally started to move late afternoon. With a little over an hour to go in the session, the NASDAQ rallied 1.5% and the DOW added more than 200 points.

Although we had a nice bounce today, its been a pretty rough month. With one more trading day left in October the S&P is down 7.9% for the month, the DOW has lost 6.0%, and the NASDAQ is looking at an 11% loss.



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Here’s where the major indices ended the day:

  • The S&P finished with a 1.6% gain. Up 41 points, the S&P ended at 2,683.
  • The DOW ended higher by 1.8%. Adding 432 points, the DOW closed at 24,875.
  • The NASDAQ was up 1.6%. With a 111 point gain, the NASDAQ finished at 7,162.
  • Bitcoin finished higher by 0.2%. Up $10, Bitcoin ended at $6,235.


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Crude Oil (CL) finished lower for the 2nd day in a row. Down 2.0%, CL finished at $65.68 a barrel.

Facebook (FB) finished 2.9% higher today, ahead of its Q3 earnings release after the bell. The report showed that Facebook beat earnings expectations, but revenue came in slightly lower than expected. The stock is up another 3.0% right now in after-hours trading.

Under Armour (UAA) was an earnings winner today. The stock jumped 27.7% after better than expected earnings.

FANG stocks were up nicely aside from Amazon (AMZN). AMZN ended well off of today’s lows but still finished with a 0.6% loss. Amazon is down 25% since making record highs in early September.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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