The major indices began the day with nice gains. But after a quiet start, stocks quickly dropped and were trading in negative territory 40 minutes later.
Then right around 10:20am ET, buying picked up. And by the end of the morning session, we were sitting at new highs for the day.
Trading was choppy until the afternoon. Then news hit that the White House isn’t considering new tax treatment for Amazon (AMZN)…at least for now. AMZN and the major indices took off on the news.
In the end, Amazon finished with a 1.5% gain and the major indices were higher across the board.
— TRENDING NOW—
|
[Free Download] The $2.4 Million Trader Playbook 
If you don’t make enough from your trades or you’re unhappy with your income, this is something you’ll really want to check this out… |
Here’s where the major indices ended the day:
- The S&P finished with a 1.3% gain. Up 33 points, the S&P ended at 2,614.
- The DOW ended 1.7% higher. Adding 389 points, the DOW closed at 24,033.
- The NASDAQ was up 1.0% With a 71 point gain, the NASDAQ finished at 6,941.
- Bitcoin ended 6.5% higher. Adding $450, Bitcoin is trading at $7,425.
Crude Oil (CL) was pretty quiet compared to the ranges we’ve seen recently. With a 0.6% gain, CL ended at $63.38 a barrel.
Tesla (TSLA) missed its Model 3 production goal for the quarter (2,5000 cars a week). Although Tesla fell short of its goal, the production of 2,000 cars a week seems to have kept investors satisfied. Tesla finished the day with a 6.0% gain.
Spotify (SPOT) was up 13% on its first day of trading. The music streaming service debuted today as a direct listing, instead of as a traditional IPO underwritten by a major bank.
Things pick up tomorrow with a busy economic calendar. We have ADP Non-Farm Employment Change at 8:15am ET, ISM Non-Manufacturing PMI at 10:00am ET, Crude Oil Inventories at 10:30am ET, and FOMC Member Speaking at 11:00am ET..
Source: RockwellTrading by Markus Heitkoetter | Original Link