It was another roller coaster of a day.
Futures this morning were deep in the red. The DOW was down over 150 points before the open. And it looked like things were going to get ugly.
But about 15 minutes before U.S. markets opened things turned around.
A rally into the open helped erase the DOW’s overnight losses. And off we went in the afternoon.
The DOW ripped higher. And after a 300 point swing, the DOW was up 144 points on the day. But around at 1:30pm ET, things fell apart pretty quickly, and the major indices turned red across the board.
In the end, the major indices were mixed with the DOW 0.1% higher. The NASDAQ was the big loser on the day with a 0.4% loss.
With one more trading day left in the week it looks like we might see our first losing week of the year. As we head in to Friday, the S&P is down 1.8%, the DOW is 1.6% lower, and the NASDAQ is down 1.6%.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.4% loss. Down 2 points, the S&P ended at 2,822.
- The DOW ended 0.1% higher. Adding 37 points, the DOW closed at 26,187.
- The NASDAQ was down 0.4%. With a 27 point loss, the NASDAQ finished at 7,384.
- Bitcoin was down 10.4%. Dropping $1,045, Bitcoin is trading at $8,960.
Crude Oil (CL) was higher for the 2nd day in a row. Up 1.7%, CL ended at $65.80 a barrel.
Amazon (AMZN) got smoked into the close, and finsihed with a 4.2% loss. But Amazon reported some stellar numbers and is trading around 6% higher in after-hours trading. We’ll see if the gains stick tomorrow.
Paypal (PYPL) got demolished last night after eBay (EBAY) said they’re terminating their partnership. They were down over 15% after reporting earnings, but finished the day with an 8.1% loss.
In other earnings news, Alibaba (BABA) closed 5.9% lower after missing profit estimates.
Facebook (FB) was choppy last night after reporting. But today FB opened up this morning to close at new highs with a 3.3% gain.
Microsoft (MSFT) was mostly green today until the market dump mid-afternoon. They reported results last night and ended the day with a 0.8% gain.
Google (GOOGL) and Apple (AAPL) reported earnings this afternoon. So these will be two stocks traders will keep an eye on tomorrow (in addition to Amazon).
All eyes turn to tomorrow’s Jobs Report consisting of Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate released at 8:30am ET. We also have Revised Consumer Sentiment at 10:00am ET.
Source: RockwellTrading by Markus Heitkoetter | Original Link
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