Stocks finished mixed after a rough start this morning.
The major indices began the day with small losses then continued to slide. About an hour into the day, the selling slowed and stocks traded sideways.
After a choppy lunch, we saw a small rally early afternoon. This helped stocks recover some of the losses from the morning.
At the close, the S&P and NASDAQ finished lower, but the DOW managed to close with small gains.
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Here’s where the major indices ended the day:
- The S&P finished 0.3% lower. Down 8 points, the S&P ended at 2,889.
- The DOW ended with a 0.1% gain. Adding 23 points, the DOW closed at 25,975.
- The NASDAQ was down 1.2%. Lower by 96 points, the NASDAQ finished at 7,995.
- Bitcoin ended 5.9% higher. Dropping $435 Bitcoin is trading at $6,935.
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Crude Oil (CL) dropped over a $1 today. Down 1.6%, CL finished at $68.75 a barrel.
Trade talks between the U.S. and Canada resumed today, but with no major developments, traders will hope for some positive news tomorrow.
There was more than just trade talks going on in Washington today. Facebook (FB) and Twitter (TWTR) executives were testifying before Congress today, and based on the numbers, traders were a little worried. Facebook lost 2.3%, and Twitter was down 6.1% on the day. Today’s tech weakness was why the NASDAQ led the major indices with losses, suffering its worst drop in almost a month.
Source: RockwellTrading by Markus Heitkoetter | Original Link