We’re off to a great start this week with stocks rallying for the third day in a row. And this time it was the DOW leading the way.
Helped out by Goldman Sachs (GS – up 2.8%) and JPMorgan Chase (JPM – up 3.1%), the DOW had its best day in over a month. With today’s gains, the DOW is back in positive territory for the year (up 0.2% YTD).
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Here’s where the major indices ended the day:
- The S&P finished with a 0.9% gain. Up 24 points, the S&P ended at 2,784.
- The DOW ended 1.3% higher. Adding 320 points, the DOW closed at 24,777.
- The NASDAQ was up 0.9%. With a 68 point gain, the NASDAQ finished at 7,756.
- Bitcoin ended 1.4% higher. Adding $95, Bitcoin is trading at $6,670.
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Crude Oil (CL) sold off early this morning but eventually finished the day in positive territory. Up 0.2%, CL ended at $73.91 a barrel.
Caterpillar (CAT) has been hit pretty hard over trade war concerns. But in spite of the first round of tariffs directed at China going into effect last week, it looks like traders are shrugging off trade worries. Caterpillar ended today’s session with a 4.1% gain, its best day since October.
Twitter (TWTR) was hit with a sizable loss today. The drop came after the Washington Post reported that the company suspended 70 million accounts in May and June in its battle against fake accounts. Twitter ended the day with a 5.4% loss.
The economic calendar is pretty quiet this week. But earnings should make things interesting, with traders turning their attention towards earnings and reports from big banks like JPM Morgan (JPM), Wells Fargo (WFC) and Citigroup (C) on Friday.
Source: RockwellTrading by Markus Heitkoetter | Original Link