Original Link | RockwellTrading by Markus Heitkoetter
U.S. stocks were quiet today. Stocks began the day mixed and then moved sideways. A small rally lifted the major indices to record highs late morning. And stocks continued to move higher throughout lunch before pulling back in the afternoon.
Although the major indices pulled away from all-time highs, the major indices were able to end the day with small gains and a new record close.
Tech stocks weren’t very active today. But gains from healthcare, consumer staples and automakers helped the S&P finish higher for the seventh straight day.
Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 5 points, the S&P ended at 2,535.
- The DOW ended 0.4% higher. Adding 84 points, the DOW closed at 22,642.
- The NASDAQ was up 0.2%. With a 15 point gain, the NASDAQ finished at 6,532.
Today Crude Oil (CL) was all over the place. CL edged higher in the morning after a bigger than expected decline in Crude Oil Inventories (inventories dropped by 6 million barrels vs. the 0.5 million barrel decrease expected).
But after the inventory report, Crude Oil dropped on news that Libya has restarted production from its largest oilfield. CL finished the day with a 0.9% loss at $49.95 a barrel.
Tesla (TSLA) was up nicely today with a 1.9% gain. The rally came after a strong deliveries report.
Mylan (MYL) was another nice mover after jumping 16.2% on an FDA drug approval.
Tomorrow’s economic calendar brings us…
- Unemployment Claims at 8:30am ET,
- FOMC Member Powell Speaking at 9:10am ET,
- FOMC Member Harker Speaking and Factory Orders at 10:00am ET.
— TRENDING NOW—
SHOCKING: Federal Reserve #2 Resigns Because of…
What I’m about to show you could have a huge impact on your life.