Stocks dropped for the first time this week, giving back around a third of their weekly gains.
The weakest sector today was “consumer staples” with a loss of 3.1%.
Tobacco giant Philip Morris (PM) was responsible for the slide in consumer staples. PM reported a decline in cigarette shipment volume for the first quarter, and plunged 15.6% to its lowest level since late 2015. Seems that the latest trend of vaping has less and less people smoking real cigarettes.
In political news, Bloomberg claims that Deputy Attorney General Rod Rosenstein told President Donald Trump last week that he isn’t a target of any part of Special Counsel Robert Mueller’s investigation
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Here’s where the major indices ended the day:
- The S&P finished with a 0.5% loss. Down 13 points, the S&P ended at 2,695.
- The DOW ended 0.3% lower. Losing 70 points, the DOW closed at 24,678.
- The NASDAQ was down 0.6%. With a 47 point loss, the NASDAQ finished at 7,248.
- Bitcoin ended 1.5% higher. Adding $121, Bitcoin is trading at $8,311.
Crude Oil (CL) prices fell 0.4% and closed at $68.30 a barrel.
Apple (APPL) fell more than 2% today.
And Amazon (AMZN) today reported that they have 100 million Prime members, which has experts speculating that Amazon could be worth $1 trillion dollar market value.
Source: RockwellTrading by Markus Heitkoetter | Original Link