Stocks kicked off the short week with losses this morning.
But just 15 minutes into trading, it looked like the major indices were getting ready to extend their recent win-streak. The NASDAQ lead the major indices higher, and theS&P followed right behind. But the gains were short-lived.
Stocks couldn’t recover from an afternoon sell-off, and the S&P’s 6-day win-streak comes to an end.
Today it was the DOW looking ugly. The DOW’s 1.0% drop was significantly worse than the other indices, largely due to Walmart (WMT) having its worse day since 2015.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.6% loss. Down 16 points, the S&P ended at 2,716.
- The DOW ended 1.0% lower. Losing 255 points, the DOW closed at 24,965.
- The NASDAQ was down 0.1% With a 5 point loss, the NASDAQ finished at 7,235.
- Bitcoin was up 2.5%. Adding $328, Bitcoin is trading at $11,471.
Crude Oil (CL) extended last week’s gains with another 0.4% win today. CL finished at $61.81 a barrel.
Walmart (WMT) didn’t have anything good to report this morning and was hammered for it. WMT was down 10.2% on the day. Qualcomm (QCOM) upped its bid for NXP (NXPI) to $125 a share, which could keep Broadcom (AVGO) from a hostile takeover attempt.
As earning season winds down, we don’t have too many big names left. Dish (DISH) will report in the morning and Transocean (RIG) reports after the bell.
The economic calendar picks up tomorrow with Existing Home Sales at 10:00am ET and FOMC Meeting Minutes at 2:00pm ET.
Source: RockwellTrading by Markus Heitkoetter | Original Link