With the Fed Statement behind us, stocks finished higher and the S&P and DOW snapped a 2-day losing streak. It was actually the first time this week that the major indices all ended the session with gains.
The NASDAQ led the way with a 0.7% win. But it could have been better. Stocks gave up early gains in the afternoon, erasing a large part the morning move.
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Here’s where the major indices ended the day:
- The S&P finished 0.3% higher. Up 8 points, the S&P ended at 2,914.
- The DOW ended with a 0.2% gain. Adding 55 points, the DOW closed at 26,440.
- The NASDAQ was up 0.7%. With a 52 point gain, the NASDAQ finished at 8,042.
- Bitcoin finished 3.2% higher. Up $205, Bitcoin ended at $6,695.
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Crude Oil (CL) rallied early and finished back above the $72 mark. Up 0.9%, CL ended at $72.18 a barrel.
Bed Bath & Beyond (BBBY) was hammered today. The stock dropped 21% after worse than expected earnings. Conagra (CAG) was also a loser, down 8.5% after earnings.
Tesla (TSLA) is getting beat up in after-hours trading. The stock is down over 13% after reports that the SEC is charging Elon Musk with fraud.
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In August, Musk tweeted that he’s considering taking the company private at a price that was 20% higher than the stock price at the time, claiming that funding was secured. The stock jumped on the news. The SEC complaint says that Musk’s “false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla’s stock and resulting harm to investors.”
Source: RockwellTrading by Markus Heitkoetter | Original Link