It looks like yesterday’s sell-off was just a minor blip on a bull’s radar.
After kicking off the day with the major indices slightly higher, trading was a little sideways in the morning. But by late morning the rally was on, and it was business as usual.
With traders buying the dip, stocks rallied to new record highs. The S&P closed above 2,800 for the first time ever and the DOW finished above 26,000 in record territory.
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Here’s where the major indices ended the day:
- The S&P finished 0.9% higher. Up 26 points, the S&P ended at 2803.
- The DOW ended with a 1.3% gain. Adding 323 points, the DOW closed at 26,116.
- The NASDAQ was up 1.0%. With a 75 point gain, the NASDAQ finished at 7,298.
- Bitcoin was up 4.0%. Adding $430, Bitcoin is trading at $11, 269.
Yesterday’s cryptocurrency sell-off continued in early trading, with Bitcoin sinking below $10,000. But a move higher in the afternoon helped push Bitcoin into positive territory and above $11,000.
Crude Oil (CL) managed to close higher after yesterday’s dip. CL finished with a 0.3% gain at $63.94 a barrel. Traders will keep an eye on tomorrow’s Crude Oil Inventories at 11:00am ET which is being released a day later than normal because of Monday’s holiday.
Boeing (BA) is moving like a tech stock these days! With another upgrade, Boeing was up 5.0% today. That’s 19% for the year!!!
Today Apple (AAPL) announced that they are repatriating $38 billion and create 20,000 jobs over the next 5 years. They said they’ll be contributing $350 billion to the US economy. They also told employees they’re issuing $2,500 worth of restricted stock as a bonus. Traders liked the news, and AAPL finished 1.9% higher with a new record high.
Morgan Stanley (MS) is out with earnings before the open tomorrow. And looking at the calendar, we have Philly Fed Manufacturing, Housing Starts, Building Permits and Unemployment Claims tomorrow at 8:30am ET.
Source: RockwellTrading by Markus Heitkoetter | Original Link
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