Stocks caught a break on the last trading day of July, snapping a 3-day losing streak.
The major indices were slightly higher at the open, then worked their way higher after reports that the U.S. and China are working towards trade talks.
Although the NASDAQ has had a tough time since making record highs last week, July ended up being a great month.
The S&P ended the month with a 3.6% gain, the DOW was higher by 4.7%, and the NASDAQ was up by 2.2%. It was the 4th month in a row that the indices closed the month higher.
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ere’s where the major indices ended the day:
- The S&P finished with a 0.5% gain. Up 14 points, the S&P ended at 2,816.
- The DOW ended 0.4% higher. Adding 108 points, the DOW closed at 25,415.
- The NASDAQ was up 0.6%. Higher by 42 points, the NASDAQ finished at 7,672.
- Bitcoin ended 6.6% lower. Dropping $455, Bitcoin is trading at $7,700.
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Crude Oil (CL) dipped back below the $69 mark and erased yesterday’s gains. With a 2.1% loss, CL ended at $68.69 a barrel.
Chipotle (CMG) was messy today, after reports of another food-borne illness. Approximately 140 people claim they got sick after eating at a Chipotle in Ohio. The stock finished lower by 6.8%.
All eyes are on Apple (AAPL) with today’s earnings release after the close. Apple reported earnings that beat analyst expectations, although iPhone sales were slightly lower than expected for the quarter. Apple is up almost 4.0% in after-hours trading.
Tomorrow traders will also be focused on the Fed and the FOMC Statement released in the afternoon.
Source: RockwellTrading by Markus Heitkoetter | Original Link