Stocks got off to a rough start but ended in positive territory thanks to a tech rally.
The major indices opened the day with losses and the S&P was down as much as 0.7%. There was an attempted rally mid-morning, but the push higher fizzled and stocks were trading back near the open the around 1pm ET.
In the afternoon stocks finally started to move, and the major indices finished the day at their best levels of the day.
It was the NASDAQ leading today’s rally, with stocks like Apple (AAPL) up 1.1%. Amazon (AMZN) higher by 0.8%, and Facebook (FB) up 1.6%.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.3% gain. Up 8 points, the S&P ended at 2,727.
- The DOW ended 0.2% higher. Adding 36 points, the DOW closed at 24,307.
- The NASDAQ was up 0.8%. With a 57 point gain, the NASDAQ finished at 7,568.
- Bitcoin ended 12.6% higher. Adding $740, Bitcoin is trading at $6,625.
Crude Oil (CL) pulled back a little after last week’s 4-day win streak. With a 0.3% loss, CL ended at $73.91 a barrel.
The DOW was higher today but it has been a rough year. Down 1.7% during the first 6 months of 2018, the DOW just had its worst first half of the year since 2010.
Tesla (TSLA) was up early this morning, rallying after CEO Elon Musk shared that the company hit their Model 3 target of 5,000 cars a week. But the stock reversed course and ended the session with a 2.3% loss.
Things are quiet tomorrow looking at the economic calendar. Trading is typically quiet ahead of the Independence Day holiday (markets are closed July 4th). But things should pick un Thursday and Friday, especially with the June Jobs Reports released early Friday morning.
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Source: RockwellTrading by Markus Heitkoetter | Original Link