Today stocks were slammed and the DOW finished lower for the 8th day in a row.
We had a pretty quiet open and stocks were trading right around yesterday’s close. But once trading got underway, stocks dropped and the major indices continued to slide during the first hour of the day.
The rest of the day was pretty sideways. But the damage had been done and the major indices finished near session lows.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.6% loss. Down 18 points, the S&P ended at 2,750.
- The DOW ended 0.8% lower. Dropping 196 points, the DOW closed at 24,462.
- The NASDAQ was down 0.9%. With a 68 point loss, the NASDAQ finished at 7,714.
- Bitcoin ended 0.2% lower. Dropping $15, Bitcoin is trading at $6,740.
Crude Oil (CL) opened lower then rallied throughout the day. Erasing most of today’s early losses, CL finished 0.2% lower, ending the session at $65.61. Today was the first day of OPEC meetings in Vienna.
E-Commerce stocks took a hit after the Supreme Court ruled that states can enforce sales tax for online shopping. eBay (EBAY) was down 3.2%, Overstock.com (OSTK) lost 7.2%, and Amazon (AMZN) was down 1.2%.
Although most stocks struggled today, there were some earnings surprises. Kroger (KR) jumped 9.7% on earnings and Darden Restaurants (DRI) finished 14.8% higher.
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Source: RockwellTrading by Markus Heitkoetter | Original Link