Stock Market Update for Tuesday, May 15th, 2018

Today the DOW’s impressive 8-day win streak came to an end.

Retail Sales were released this morning at 8:30am ET and they were slightly lower than expected.

Markets were on the move after the report. Gold (GC) tanked (down 2.1%) and interest rates spiked (the 10-year yield finished with its highest close since 2011).

With traders worried about higher interest rates, the major indices opened lower and continued to slide. Then right around 10:00 am ET, stocks found support.

But the damage had already been done. The major indices spent the rest of the day trading in a range before eventually finishing the day with losses.


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Here’s where the major indices ended the day:

  • The S&P finished with a 0.7% loss. Down 19 points, the S&P ended at 2,711.
  • The DOW ended 0.8% lower. Adding 193 points, the DOW closed at 24,706.
  • The NASDAQ was down 0.8%. With a 60 point loss, the NASDAQ finished at 7,352.
  • Bitcoin ended 0.6% lower. Dropping $50, Bitcoin is trading at $8,485.

Crude Oil (CL) opened at highs of the year and retreated. Down 0.4%, CL ended at $70.70 a barrel.

Agilent (A) was hit hard today after lowering its guidance for the year. Agilent ended the day with a 9.7% loss.

Home Depot (HD) was also hit after earnings. The retailer reported its first same-store earnings miss in 7 quarters and finished the day with a 1.6% loss.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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