Stocks struggled during the first trading day of September. But things could have been worse.
After a weak start and mid-day sell-off, stocks bounced back and erased most of the day’s early losses.
Trade was in the spotlight again, after President Trump shared some negative comments about NAFTA over the weekend. The President tweeted that there’s “no political necessity” to keep Canada (the 2nd largest trade partner of the U.S.) in the new NAFTA deal. Talks between the U.S. and Canada will continue tomorrow.
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Here’s where the major indices ended the day:
- The S&P finished 0.2% lower. Down 5 points, the S&P ended at 2,897.
- The DOW ended with a 0.1% loss. Dropping 12 points, the DOW closed at 25,982.
- The NASDAQ was down 0.2%. Lower by 18 points, the NASDAQ finished at 8,091.
- Bitcoin ended 1.5% higher. Adding $110 Bitcoin is trading at $7,370.
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Crude Oil (CL) was up over $71 a barrel this morning but struggled after the open. Giving up all of today’s early gains, CL finished flat at $69.81 a barrel.
Nike (NKE) suffered a 3.2% loss today after unveiling a controversial ad campaign featuring San Francisco 49ers quarterback Colin Kaepernick.
Amazon (AMZN) just did it. Amazon became the 2nd U.S. company to reach the $1 trillion market cap. Amazon finished the day with a 1.3% gain at record highs.
Source: RockwellTrading by Markus Heitkoetter | Original Link