Fear is back - Here's what you need to know...

Market Recap for Thursday, May 18th, 2017

Stocks bounced back after the worst single session decline in almost a year.

In early trading, it looked like things were only going to get worse. The sell-off continued overnight, and the major indices opened lower for the 2nd day in a row.

But it looks like traders saw the dip as a buying opportunity.

Led by the NASDAQ, the major indices mounted a comeback and finished the day with gains across the board. But when it comes down to it, today's gains recovered just a fraction of the losses from yesterday.

Here's where the major indices ended the day:

  • The S&P finished with a 0.4% gain. The S&P added 9 points and ended at 2,366.
  • The DOW ended 0.3 higher. With a 56 point gain, the DOW closed at 20,663.
  • The NASDAQ was up 0.7%%. Adding 44 points, the NASDAQ finished at 6,055.

Crude Oil (CL) ended higher for the 2nd day in a row. With a 0.5% gain, CL finished at $49.67.

How bad was it yesterday? According to the Bloomberg Billionaires Index, the world's 500 richest people lost $35 Billion from yesterday's sell-off. Mark Zuckerberg, founder of Facebook (FB), had the roughest day losing $2 billion.

Although we didn't have the huge moves that we did yesterday, one thing is for certain - volatility is back!

Day traders saw bigger ranges and had some nice swings to trade during the trading session. And although the VIX (aka Fear Index) retreated a bit, the VIX remains near highs of the year.

Tomorrow's economic calendar is quiet, with no major report scheduled.

This Week's Economic Calendar

Real Time Economic Calendar provided by Investing.com.

Have a great trading week!

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