The midterm elections are behind us. And with Democrats controlling the House, we have a split Congress (which was expected).
But traders don’t seem to care. Stocks rallied all day long, closing at session highs.
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With today’s win, the S&P has finished higher for 3 days straight and is up 3.8% in November. We’re still more than 4% away from record highs. But this rally has made a pretty decent dent in October’s losses!
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Here’s where the major indices ended the day:
- The S&P finished with a 2.1% gain. Up 58 points, the S&P ended at 2,814.
- The DOW ended higher by 2.1%. Adding 545 points, the DOW closed at 26,180.
- The NASDAQ was up 2.6%. With a 195 point gain, the NASDAQ finished at 7,571.
- Bitcoin finished higher by 1.3%. Up $85, Bitcoin ended at $6,500.
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Crude Oil (CL) closed lower for the 8th day in a row. Down 0.7%, CL finished at $61.76 a barrel. Today’s Crude Oil Inventories showed a 5.8 million barrel increase in U.S. stockpiles (vs. a 2 million barrel forecast).
Amazon (AMZN) was a big winner today, up 6.7% and closing at its best level since reporting earnings on October 25th.
Humana (HUM) was up 6.7% after better than expected earnings. Etsy (ETSY) was a big earnings winner today, up 23.7% after better than expected numbers.
Cannabis company Tilray (TLRY) jumped 30.6% with some positive pot news. Several states voted to legalize marijuana for medical and recreational use. And cannabis critic Attorney General Jeff Sessions resigned today.
Source: RockwellTrading by Markus Heitkoetter | Original Link