If trading didn’t “feel” normal today, you weren’t alone.
The S&P traded in less than a 21 point range for the first time in over a month! And yes, 20-point ranges were big days in 2017. But after a crazy February, a 21 point range is now considered boring.
Even news that North Korea is open to discussing an end to its nuclear program didn’t move the markets much. Instead, stocks teeter-tottered throughout the session.
After a back and forth session, the major indices managed to finish higher for the 3rd straight day. The NASDAQ led the major indices with a 0.6% gain, but the DOW ended flat.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.3% gain. Up 7 points, the S&P ended at 2,728.
- The DOW ended flat. Adding just 9 points, the DOW closed at 24,884.
- The NASDAQ was up 0.6% With a 41 point gain, the NASDAQ finished at 7,372.
- Bitcoin was down 7.0%. Dropping $809, Bitcoin is trading at $10,750.
Crude Oil (CL) finished higher for the 3rd day in a row. Up 0.3%, CL ended at $62.76 a barrel.
Today Netflix (NFLX) was a nice mover, doing what Netflix does best: surge higher! Another day, another upgrade, and another 3.2% gain.
We had some nice earnings action in a few names today – YY Inc (YY) was crushed with a 12.3% loss while Baozun (BZUN) surged higher 31.1%. Meanwhile, Target (TGT) took a 4.5% hit after reporting disappointing earnings this morning.
Ross Stores (ROST) is on deck with earnings after the close. And looking at tomorrow’s economic calendar, we have Unemployment Claims at 8:30 AM ET.
Source: RockwellTrading by Markus Heitkoetter | Original Link