Bitcoin up, Apple down

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It was typical “day after” Christmas trading today.

With the major indices rangebound for most of the session, the S&P traded in less than a 5 point range (the 4th smallest range of the year).

While the S&P and DOW were quiet, there was a little more action in the NASDAQ. The move was largely due to news that Apple (AAPL) lowered iPhone X shipment projections.

The NASDAQ was down over 40 points at one point and AAPL finished 2.6% lower.

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Here’s where the major indices ended the week:

  • The S&P finished 0.1% lower. Down 3 points, the S&P ended at 2,681.
  • The DOW ended flat. Dropping just 8 points, the DOW closed at 24,746.
  • The NASDAQ was down 0.3. With a 23 point loss, the NASDAQ finished at 6,937.
  • Bitcoin was up 12%. Up $1696, Bitcoin is trading at $15,856.

Crude Oil (CL) jumped to new highs for the year today. WIth a 2.5% gain, CL ended at $59.90 a barrel.

Capital One (COF) announced that they’re lowering their proposed buyback plan to $1 billion, down from $1.85 billion. The stock closed 0.6% lower on the news. And AT&T (T) announced numerous layoffs today. The announcement was a bit of a surprise since they just shelled out $1,000 bonuses to 250k employees.

In cryptocurrency news, Coinbase continues to experience delays in transactions. And according to folks on Twitter, the customer service line is a complete disaster…Be careful out there in crypto-land!

It’s a quiet week for reports. But things pick up a little tomorrow with Consumer Confidence and Pending Home Sales tomorrow at 10:00am ET.

Source: RockwellTrading by Markus Heitkoetter | Original Link

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