Today the DOW’s impressive 8-day win streak came to an end.
Retail Sales were released this morning at 8:30am ET and they were slightly lower than expected.
Markets were on the move after the report. Gold (GC) tanked (down 2.1%) and interest rates spiked (the 10-year yield finished with its highest close since 2011).
With traders worried about higher interest rates, the major indices opened lower and continued to slide. Then right around 10:00 am ET, stocks found support.
But the damage had already been done. The major indices spent the rest of the day trading in a range before eventually finishing the day with losses.
— TRENDING NOW—
$330,000 per year trading part-time?
Check Out This Video to Learn Jason’s 3 Simple Trading Patterns
Here’s where the major indices ended the day:
- The S&P finished with a 0.7% loss. Down 19 points, the S&P ended at 2,711.
- The DOW ended 0.8% lower. Adding 193 points, the DOW closed at 24,706.
- The NASDAQ was down 0.8%. With a 60 point loss, the NASDAQ finished at 7,352.
- Bitcoin ended 0.6% lower. Dropping $50, Bitcoin is trading at $8,485.
Crude Oil (CL) opened at highs of the year and retreated. Down 0.4%, CL ended at $70.70 a barrel.
Agilent (A) was hit hard today after lowering its guidance for the year. Agilent ended the day with a 9.7% loss.
Home Depot (HD) was also hit after earnings. The retailer reported its first same-store earnings miss in 7 quarters and finished the day with a 1.6% loss.
Source: RockwellTrading by Markus Heitkoetter | Original Link