Yesterday, stocks experienced their worst loss of the month. Today stocks were slightly higher. But the small bounce wasn’t enough to get excited about.
All eyes were on Facebook (FB) today as the FB sell-off continued.
Today’s 2.6% loss came after news that the FTC is investigating a possible violation of a 2011 data privacy settlement.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 4 points, the S&P ended at 2,717.
- The DOW ended 0.5% higher. Adding 116, the DOW closed at 24,727.
- The NASDAQ was up 0.3% With a 20 point gain, the NASDAQ finished at 7,364.
- Bitcoin ended 6.5% higher. Adding $551, Bitcoin is trading at $8,978.
Crude Oil (CL) opened strong and marched higher throughout the session. Up 2.2%, CL ended at $63.49 a barrel.
In earnings news, Oracle (ORCL) was hammered today with a 9.4% loss. Oracle reported better than expected earnings but weaker than expected growth in its cloud business.
Social media companies are having a rough few days. First, it was Facebook. And now its Twitter (TWTR).
Twitter was slammed with a 10.4% loss today. The drop comes after reports of possible Israeli sanctions. The sanctions are over allegations that Twitter is ignoring requests to remove posts and users promoting terrorism.
Tomorrow is a busy day for the economic calendar. We have Existing Home Sales at 10:00am ET, Crude Oil Inventories at 10:30am ET, and the Fed Statement at 2:00pm ET followed by a Press Conference at 2:30pm ET.
Source: RockwellTrading by Markus Heitkoetter | Original Link