Original Link | RockwellTrading by Markus Heitkoetter
It was another day for the record books as stocks bounced back from yesterday’s losses.
Similar to yesterday, the major indices pulled back after a strong open. Stocks then traded sideways for most of the session. But this time, a small rally late afternoon helped the major indices finish the session with gains.
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The S&P, DOW, and NASDAQ all made new intraday highs. But the DOW was the only index to finish the day with a new record close.
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 2,551.
- The DOW ended 0.3% higher. Adding 70 points, the DOW closed at 22,831.
- The NASDAQ was up 0.1%. With an 8 point loss, the NASDAQ finished at 6,587.
Crude Oil (CL) finished higher after Saudi Arabi said it would slash exports. CL finished the day with a 2.7% gain at $50.89 a barrel.
Shortly after the market opened, the Dow Jones shared a story saying Google was buying Apple. And yes, this was FAKE NEWS. Minutes after the story ran a Dow Jones spokesman confirmed that the headline and story were the result of a “technical” error.
Walmart (WMT) helped the DOW lead the major indices today. Walmart was up 4.5% after unveiling a $20 billion stock buyback plan and forecasting that U.S. online sales will rise by 40% in the next year.
In world news, traders are keeping an eye on events in Spain as the government decides what steps should be taken after Catalonia’s independence referendum. And President Trump is expected to make an announcement on the Iran deal by Friday.
Tomorrow Blackrock (BLK) and Delta (DAL) will kick off earnings season with reports before the open. In the afternoon, traders will keep a close eye on the FOMC Minutes release.
Here are tomorrow’s key reports: JOLTS Job Openings at 10:00am ET and FOMC Meeting Minutes at 2:00pm ET.
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