Today stocks opened higher and never looked back.
Shaking off concerns over Syria, traders seemed to focus on positive earnings and retail growth instead. This morning retail numbers were released and they were better than expected, with Retail Sales jumping 0.6% after three straight months of declines.
With the major indices higher across the board, the S&P returned to positive territory for the year, closing at its highest level since March 22nd.
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Here’s where the major indices ended the day:
- The S&P finished with an 0.8% gain. Up 22 points, the S&P ended at 2,678.
- The DOW ended 0.9% higher. Adding 213 points, the DOW closed at 24,573.
- The NASDAQ was up 0.7%. With a 50 point gain, the NASDAQ finished at 7,156.
- Bitcoin ended 3.4% lower. Losing $280, Bitcoin is trading at $8,010.
Crude Oil (CL) pulled back a little after last week’s impressive rally. Down 1.8%, CL ended at $66.18 a barrel.
CVS Health (CVS) and Walgreens Boot Alliance (WBA) were up nicely today, after reports that Amazon (AMZN) put its plans to distribute pharmaceuticals to hospitals on hold. CVS ended with a 4.2% gain, and WBA was up 3.8%.
Looking at earnings, Bank of America (BAC) was up 0.4% after better than expected first-quarter earnings.
Netflix (NFLX) will be on the radar tomorrow, after reporting some impressive numbers today after the bell. NFLX is up as much as 7% in after-hours trading after adding 7.4 million new customers in the last quarter.
President Trump is also set to announce two nominees today for the Federal Reserve with Richard Clarida as vice chairman, and Michelle Bowman for community banker.
Source: RockwellTrading by Markus Heitkoetter | Original Link