It was another quiet day for the markets with big traders enjoying the holiday break.
The S&P stayed in a 5 point range today. But in spite of the small range, the S&P finished higher and is back in positive territory for the week. However, we still have ways to go for the S&P to be on track with its 1.5% Santa Claus Rally average.
On the news front, things were a little interesting after President Trump called out China for providing oil to North Korea.
Trump tweeted, “Caught RED HANDED – very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!”
Bitcoin was down again today after news that South Korea will ban anonymous trading accounts. Bitcoin was down as much as 11% overnight.
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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 2,688.
- The DOW ended with a 0.3% gain. Adding 63 points, the DOW closed at 24,838.
- The NASDAQ was up 0.2%. With an 11 point gain, the NASDAQ finished at 6,950.
- Bitcoin was down 6.6%. Losing $1004, Bitcoin is trading at $14,249.
Crude Oil (CL) finished the day slightly higher after today’s Crude Oil Inventories. The inventory released showed a 4.6 million barrel decrease in U.S. stockpiles compared to the 3.9 million barrel drop that was expected. Crude Oil ended with a 0.4% gain, closing at $59.85 a barrel as it tries to close above the $60 mark for the first time in over 2 years.
Energous Corp (WATT) went crazy again today, up 37.9% with another insane trading day. Netflix (NFLX) was on the move too, finishing 3.4% higher.
Gold (GC) was up for the sixth day in a row. With a 0.4% gain, Gold finished at $1297.1 an ounce as it tries to make its way back above $1300 for the first time in 6 weeks.
Looking at the economic calendar, there are no major reports tomorrow.
Source: RockwellTrading by Markus Heitkoetter | Original Link
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