Market Recap for Thursday, February 16th, 2017
Stocks took a breather today, and the major indices ended the session slightly lower.
With today's close, the 7-day win streak in the S&P and NASDAQ came to an end. But the DOW managed to end the session slightly positive, and extended its win streak to 6 consecutive days.
After the recent run up, it's normal to take a break.
But some might argue that the day actually ended in favor of the bulls...after a sell off late morning, stocks made their way higher. And a late session rally helped the major indices finish strong back near the flatline.
Here's where the major indices ended the day:
- The S&P finished with a 0.1% loss. Down 2 points, the S&P ended at 2,347.
- The DOW ended flat. Adding just 8 points, the DOW closed at 20,620.
- The NASDAQ was down 0.1%. With a 5 point gain the NASDAQ finished at 5,815.
Crude Oil (CL) was all over the place today. A big slide near the open led to a 1.7% swing that sent CL into negative territory for the session. But a strong rebound midday pushed Crude Oil right back into positive territory. And at the end of the session CL was looking at a 0.3% gain and close of $53.78 a barrel.
Apple (AAPL) finished higher for the 3rd day in a row. Trading at new all-time highs, AAPL was up 0.3% and ended at $135.51 a share.
In the IPO world, Snapchat made headlines with a lower than expected IPO valuation of $14-$16 a share.
To some "selfies" are a joke. But the valuation of Snapchat is no laughing matter...based on $14-16 a share, the company is expected to be worth $19.5 to $22.5 billion!!!
There are no major reports on tomorrow's economic calendar.
This Week's Economic Calendar
Real Time Economic Calendar provided by Investing.com.
Have a great trading week!11111111111111111111