Stocks finished higher for the 2nd day in a row today.
An overnight rally put the major indices in a nice position at the open. With a late morning move and another push higher in the afternoon, the major indices were up almost 2.0% across the board.
He predicted the dot-com crash in January 2000… the gold boom of 2003… the bottom of the Great Recession in 2009… and the housing boom in 2011. And on Wednesday night, he made the boldest prediction of his career.
But the rally lost some steam in the last hour of trading, and the major indices finished the day right around where things opened with gains of 1.0%-2.0%.
Back-to-back wins have been nice. But it was a pretty lousy month for stocks.
Wrapping up October, the S&P lost 6.9%, the DOW was down 5.1%, and the NASDAQ ended the month with a loss of 9.2% – the worst monthly loss for the NASDAQ since 2008!
— TRENDING NOW—
FREE STOCK TRADING WEBINAR
Experienced Biotech stock investor, Kyle Dennis, will be showing you 3 easy-to-follow steps that you’re going to want in your playbook & he’s got the numbers to prove it!
Here’s where the major indices ended the day:
- The S&P finished with a 1.1% gain. Up 29 points, the S&P ended at 2,712.
- The DOW ended higher by 1.0%. Adding 241 points, the DOW closed at 25,116.
- The NASDAQ was up 2.0%. With a 144 point gain, the NASDAQ finished at 7,306.
- Bitcoin finished higher by 0.9%. Up $55, Bitcoin ended at $6,290.
— TRENDING NOW—
$330,000 per year trading part-time?
Crude Oil (CL) finished lower for the 3rd day in a row. Down 1.3%, CL finished at $65.31 a barrel. Today’s Crude Oil Inventories came in pretty much as expected with U.S. stockpiles seeing a 3.2 million barrel increase (vs. a 3.6 million forecast).
The rally in Facebook (FB) continued today, with the stock finishing the session with a 3.8% gain. Yesterday’s earnings release showed better than expected earnings, but slightly lower revenue.
eBay (EBAY) was an earnings winner as well, up 5.9% on numbers that were in-line with expectations. General Motors (GM) crushed it, rallying 9.1% after better than expected earnings. But they weren’t all earnings wins…Kellogg (K) was hammered with an 8.9% loss after some disappointing numbers.
Source: RockwellTrading by Markus Heitkoetter | Original Link