Today the markets were all over the place.
Stocks were higher out of the gate after the Financial Times reported that a trade deal is almost done.
There are still some items to be ironed out – China wants the U.S. to remove existing U.S. duties on imports and the U.S. wants China to agree to enforcement measures so they stick to any deal – but the news was definitely positive, and traders responded to the news.
The major indices opened higher, then pulled back in the morning session.
There was a rally during lunch, and stocks were trading at session highs. But a dip in the afternoon brought the major indices to lows of the day.
At the end of the session stocks were higher, but trading right around where they opened. The S&P finished higher for the 5th day in a row, closing at highs of the year.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 6 points, the S&P ended at 2,873.
- The DOW ended higher by 0.2%. Adding 39 points, the DOW closed at 26,218.
- The NASDAQ was up 0.6%. With a 47 point gain, the NASDAQ finished at 7,896.
Crude Oil (CL) pulled back after making multi-month highs. Down 0.2%, CL ended at $62.45 a barrel.
Is Bitcoin was on the move again today. Up another 10%, Bitcoin is up 26.9% in just two days. Crypto traders haven’t seen moves like this since 2017!
Lyft (LYFT) had its first winning day today. Up 1.5%, the stock finished at $70 a share, but still below its $72 IPO price.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link