Stocks were all over the place today.
The major indices dropped after the open but turned on a dime just 20 minutes into the trading session. And around 11am ET, the major indices were trading at new highs of the year.
But after the S&P and NASDAQ hit highs for 2019, stocks dropped again during lunch.
There was a rally back to today’s open during the last hour of the day. But another pullback in the last 15 minutes of trading left the major indices with a 0.2% loss across the board.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.2% loss. Down 6 points, the S&P ended at 2,927.
- The DOW ended lower by 0.2%. Dropping 59 points, the DOW closed at 26,597.
- The NASDAQ was down 0.2%. With a 19 point loss, the NASDAQ finished at 8,102.
Crude Oil (CL) dropped for the first time in 3 days. Down 0.7%, CL ended at $65.83 a barrel. Today’s Crude Oil Inventories showed a 5.5 million barrel increase in U.S. stockpiles compared to the 0.9 million barrel increase expected.
Earnings were mixed today.
Boeing (BA) reported worse than expected earnings but ended with a 0.4% gain. Caterpillar (CAT) reported better than expected earnings but finished with a 3.0% loss. And AT&T (T) suffered a 4.1% drop after disappointing numbers.
Tesla (TSLA) reported earnings after the bell. The company reported a bigger loss than expected and lower revenue because a tax credit that expired on January 1st is having an impact on sales. In after-hours trading Tesla us up almost 2.0%.
Facebook (FB) also reported after the bell and is up big in after-hours trading (up more than 9.0%). Facebook had a strong quarter in spite of concerns that the company might take a $3-5 billion hit because of its ongoing FTC inquiry.
Tomorrow will be another big day for earnings. Amazon (AMZN), Ford (F), and Starbucks (SBUX) are just a few of the big names set to report.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link