Stock Market Update for Monday, July 16th, 2018

The world has been keeping an eye on two things recently: the World Cup and President Donald Trump.

The World Cup wrapped up on Sunday with France beating Croatia. And President Trump’s whirlwind European trip came to an end after a meeting with Russian President Vladimir Putin.

Although Trump’s meeting with Putin made headlines, there was actually little new information that moved the market. And after a slightly higher open, the major indices traded sideways for most of the session and stocks ended the day mixed.


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Here’s where the major indices ended the day:

  • The S&P finished with a 0.1% loss. Down 3 points, the S&P ended at 2,798.
  • The DOW ended 0.2% higher. Adding 45 points, the DOW closed at 25,064.
  • The NASDAQ was down 0.3%. With a 20 point loss, the NASDAQ finished at 7,806.
  • Bitcoin ended 7.8% higher. Adding $480, Bitcoin is trading at $6,660.

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Crude Oil (CL) dropped to new lows for the month. Down 4.0%, CL ended at $68.20 a barrel. Ths drop came after Treasury Secretary Steven Mnuchin said that some Iranian oil importers may receive waivers.

Bank of America (BAC) rallied on better than expected earnings today. The bank finished with a 4.3% gain.

Amazon (AMZN) hit new records on one of its busiest shopping days of the year – Amazon Prime Day. Amazon ended the day 0.5% higher with a record close of $1,822.49.

But Amazon wasn’t the only one setting records. Jeff Bezos (the founder of Amazon) became the richest person in modern history.

If this sounds familiar, Bezos technically became the richest man a year ago. But some questioned whether or not Bezos officially became richer than Bill Gates in his heyday since the ranking didn’t account for inflation. But today, Bezo’s fortune topped $150 billion (currently $55 billion more than Gates), making Bezos the clear leader.

Netflix (NFLX) was slammed in after-hours trading after worse than expected earnings and subscriber growth.  Traders will keep an eye on the NASDAQ and tech stocks tomorrow, with Netflix down as much as 14% after hours.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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Stock Market Update for Sunday, July 15th, 2018

It was a great week for stocks.

On Monday, traders set the tone for the week with nice gains across the board. Tuesday was higher as well, and the major indices were sitting on a 4-day win streak.

But the win streak came to an end on Wednesday, with stocks trading back around where the week started.

Wednesday’s loss was just a blip on a bull’s radar though. Stocks bounced right back with back-to-back winning days to end the week.

By the end of the week, the NASDAQ was at record highs and the S&P was trading at 5-month highs.


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Here’s where the major indices ended the week:

  • The S&P finished with a 1.5% gain. Up 41 points, the S&P ended at 2,801.
  • The DOW ended 2.3% higher. Adding 563 points, the DOW closed at 25,019.
  • The NASDAQ was up 1.8%. With a 138 point gain, the NASDAQ finished at 7,826.
  • Bitcoin ended 6.0% lower. Dropping $395, Bitcoin is trading at $6,180.

Crude Oil (CL) finished lower for the 2nd week straight. Down 3.7%, CL ended at $71.01 a barrel.


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Tech stocks were busy making new records last week. Amazon (AMZN) was up 6.0% with a new record, Microsoft (MSFT) was higher by 4.2% at record levels, and Facebook (FB) was up 2.% with a new entry in the record books as well.

On Friday, traders were waiting for banks to report earnings and results were mixed. JPMorgan Chase (JPM)beat profit estimates and was down 0.5%, Citigroup (C) beat expectations as well but was down 2.2%, and Wells Fargo (WFC) had an earnings miss and ended with a 1.2% loss.

AT&T (T) was also lower after news that the Justice Department has appealed AT&T’s acquisition of Time Warner. AT&T was down 1.7% on Friday.

In addition to the economic calendar, we’ll have more earnings to digest this week. Although banks didn’t do too well Friday, traders are expecting a strong earnings season.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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