Stocks were mixed after a slow trading day.
The S&P and NASDAQ started the day slightly lower, a first this year. But after the sluggish start, both indices edged higher and were trading in positive territory by 12:30pm ET.
In a bit of a twist, the DOW opened higher but could not hold onto early gains.
By the end of the session, the S&P and NASDAQ were higher, extending their 2018 win-streak to 5 consecutive sessions. But the DOW wasn’t so lucky, finishing with its first loss of the year.
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Here’s where the major indices ended the day:
- The S&P finished 0.2% higher. Up 5 points, the S&P ended at 2,748.
- The DOW ended with a 0.1% loss. Dropping 13 points, the DOW closed at 25,283.
- The NASDAQ was up 0.3%. With a 21 point gain, the NASDAQ finished at 7,157.
- Bitcoin was down 10.4%. Losing $1709, Bitcoin is trading at $14,704.
Crude Oil (CL) retreated after a strong start. But after erasing early losses and dipping into negative territory, Crude Oil managed to work its way back by the end of the session. Finishing with a 0.5% gain. CL closed at $61.74 a barrel.
Although the indices were slow today, there was a lot of company news.
Tesla (TSLA) surged 6.3% today after Chinese startup Byton unveiled its electric SUV at this year’s CES. This comes amidst news that Amazon (AMZN) is working with Toyota (TM) for driverless deliveries.
GoPro (GPRO) lost 12.8% after it announced plans to layoff employees in anticipation of weak earnings. On a positive note, GPRO managed to bounce back after being down almost 30% in early trading.
There was some controversy during last night’s Golden Globes after a tweet from a verified NBC account went out saying “nothing but respect for OUR future president”…the tweet was in reference to Oprah Winfrey. NBC took some heat for the tweet and has removed the comment, saying it was sent by a third party agency and was a reference to a joke made during a monologue.
But traders didn’t seem to mind. Weight Watchers (WTW) soared 12.2% after Oprah’s Golden Globes speech last night. The Stock has been on an absolute rampage since Oprah put her name on it. And the recent speculation/joke about a possible 2020 Presidential run, seems to have fueled today’s rally.
In political news, Special Counsel Mueller is reportedly ready to interview President Trump for his investigation into the Russia saga. This could come as early as “a few weeks.”
Looking at the economic calendar, there are no major reports.
Source: RockwellTrading by Markus Heitkoetter | Original Link
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