Stocks finish the first trading day of the year higher with some wild moves.
After weak economic data in China, the major indices opened the year with losses…and things looked ugly.
At one point, the DOW was down 1.7% and trading below 23,000.
But after the lower start, stocks rallied and continued their push higher into the afternoon.
There was a pullback from session highs in the last hour of trading. But the major indices managed to hang onto gains and finish the session higher.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.1% gain. Up 3 points, the S&P ended at 2,510.
- The DOW ended higher by 0.1%. Adding 19 points, the DOW closed at 23,346.
- The NASDAQ was up 0.5%. With a 31 point gain, the NASDAQ finished at 6,666.
- Bitcoin finished higher by 3.9%. Up $145, Bitcoin ended at $3,835.
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Crude Oil (CL) was higher for the 3rd day in a row. Up 2.2%, CL ended at $46.39 a barrel.
Apple (AAPL) took a big hit in after hours trading after the company announced that is cutting revenue forecasts for the first quarter of 2019. The cuts are largely due to weaker sales in China. Apple finished the day higher by 0.1%, but is down more than 7% in after hours trading.
Tesla (TSLA) suffered losses on the first day of the year after reports that fewer Model 3 vehicles were delivered in the 4th quarter. The stock dropped 6.8% today.
Source: RockwellTrading by Markus Heitkoetter | Original Link