Stocks got off to a nice start but finished the day with small losses.
The major indices were higher at the open. But stocks dropped in the morning.
Then at 10:00am traders had New Home Sales and ISM Non-Manufacturing PMI to deal with.
The reports were both better than expected. Stocks got a little boost after the news but remained choppy for the rest of the day.
The S&P stayed in a 14 point range and eventually finished with a 0.1%. The index closed below 2,800 for the 2nd day in a row.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.1% loss. Down 3 points, the S&P ended at 2,790.
- The DOW ended lower by 0.1%. Dropping 13 points, the DOW closed at 25,807.
- The NASDAQ was flat. With a 1 point loss, the NASDAQ finished at 7,576.
Crude Oil (CL) traded in a less than a $1.00 range today and ended flat. CL finished just $0.02 higher at $56.55 a barrel.
In earnings news, retail was in the spotlight.
Target (TGT) jumped 4.6% on better than expected earnings. And Kohl’s (KSS) was also higher on earnings. KSS finished the day with a 7.3% gain.
In billionaire news, Kylie Jenner became the youngest self-made billionaire ever. At 21, Kylie Jenner topped the billion mark with a lot of help from her cosmetics line Kylie Cosmetics. She also charges $1 million for a sponsored Instagram, which probably didn’t hurt her net worth.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link