It was another roller coaster of a day for the major indices.
Stocks sold off quickly in the first 15 minutes of trading. But after finding support, the major indices were slightly higher late morning. From there, stocks chopped around until the S&P and DOW finished higher on the day.
After today, the DOW’s losing streak comes to an end after 5 consecutive losses.
But the NASDAQ is another story. With a 0.1% loss, the NASDAQ extends its losing streak to 5 days.
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Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 5 points, the S&P ended at 2,639.
- The DOW ended 0.3% higher. Adding 60 points, the DOW closed at 24,084.
- The NASDAQ was down 0.1%. With a 4 point loss, the NASDAQ finished at 7,004.
- Bitcoin ended 3.7% lower. Losing $352, Bitcoin is trading at $9,088.
Crude Oil (CL) had a little comeback after yesterdays drop. With a 0.5% gain, CL ended at $68.06 a barrel. Today’s Crude Oil Inventories showed a 2.2 million barrel increase in U.S. stockpiles compared to the 1.6 million barrel decrease that was expected.
The 10-year yield remains in the spotlight. And today, the 10-year closed above 3% for the first time in over 4 years. The 2-year yield was also on the moving, climbing to 2.49% which is the highest close in almost 10 years!
There was a bit of surprise today after trading of Amazon (AMZN), Google (GOOG), and Booking Holding (BKNG) was halted at the New York Stock Exchange over a trading quote bug.
Looking at earnings, Boeing (BA) crushed earnings and was up 4.2% today. Texas Instruments (TXN) and Anthem (ANTM) reported better than expected earnings as well and were up 4.7% and 6.2% respectively.
PayPal (PYPL) and Facebook (FB) reported better than expected earnings after the bell, so we’ll see how the stocks respond tomorrow. We’ll also get earnings from Amazon (AMZN).
Source: RockwellTrading by Markus Heitkoetter | Original Link