Stocks were up early but finished the day near session lows.
After a slightly lower start, the major indices rallied in the morning.
But a slow drop throughout the day left stocks in negative territory. Then a final push lower in the last 15 minutes of trading sent the major indices to session lows.
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With today’s loss, stocks snapped a 3-day winning streak.
Here’s where the major indices ended the day:
- The S&P finished with a 0.3% loss. Down 10 points, the S&P ended at 3,136.
- The DOW ended lower by 0.4%. Dropping 105 points, the DOW closed at 27,910.
- The NASDAQ was down 0.4%. With a 35 point loss, the NASDAQ finished at 8,622.
Crude Oil (CL) flirted with the $59 mark but finished lower. Down 0.4%, CL ended the day at $58.97.
This week traders are keeping an eye on the Fed and trade talks.
The Fed will release their Fed Statement on Wednesday and the expectation is that the Fed is done cutting rates. So traders will focus on the press conference and thoughts on rates for 2020.
There’s also the looming December 15th deadline on tariffs. Without a deal, additional tariffs will go into effect on Chinese goods on this date. Last Friday, White House economic advisor Larry Kudlow said the two countries are close to a deal, but that the U.S. is prepared to walk away if needed.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
Source: RockwellTrading by Markus Heitkoetter | Original Link