Trading got off to a nice start today, with the major indices all higher at the open. Stocks rallied throughout the morning and were trading at highs 75 minutes into the session. But a steep sell-off around lunch erased morning losses and the major indices turned negative for the day.
Trading was choppy in the afternoon, but a final push lower brought the major indices to lows of the day.
The NASDAQ led the major indices with a 1.5% loss. And with today’s drop, the S&P joined the DOW in negative for the month of June.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.9% loss. Down 23 points, the S&P ended at 2,700.
- The DOW ended 0.7% lower. Dropping 166 points, the DOW closed at 24,118.
- The NASDAQ was down 1.5%. With a 117 point loss, the NASDAQ finished at 7,445.
- Bitcoin ended 1.1% lower. Dropping $70, Bitcoin is trading at $6105.
Crude Oil (CL) finished higher after another impressive rally.Up 2.5%, CL ended at $72.28 at a barrel. Today’s Crude Oil Inventories showed a 9.9 million barrel decrease in U.S. stockpiles compared to the 2.4 million barrel drop that was expected.
ConAgra Brands (CAG) dropped 7.3% after announcing a deal to acquire Pinnacle Foods (PF).
Today the Walt Disney (DIS) offer for 21st Century Fox (FOXA) assets got a boost with the DOJ approving the deal on the condition that Disney sell 22 regional sports networks.
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Source: RockwellTrading by Markus Heitkoetter | Original Link