Stock Market Update for Monday, February 12th, 2018
Picking up right where we left off on Friday, stocks were on the move again.
After opening the day higher, stocks rallied and then pulled back mid-morning. There was the same type of volatility that we've grown accustomed to over the last week, but today the bulls were definitely in charge.
Following the early dip, stocks rallied for most of the day. Aside from pullback into the close, stocks were strong for most of the session.
Gains of 1.4% to 1.7% would normally be great for most days. But after the worst week in 2 years we're still just chipping away at last week's losses.
The NASDAQ popped back into positive territory for the year. But the S&P is still negative, and 7.6% below January's high.
Here's where the major indices ended the day:
- The S&P finished with a 1.4% gain. Up 36 points, the S&P ended at 2,656.
- The DOW ended 1.7% higher. Adding 410 points, the DOW closed at 24,601.
- The NASDAQ was up 1.6% With a 107 point gain, the NASDAQ finished at 6,982.
- Bitcoin was up 7.0%. Adding $580, Bitcoin is trading at $8,868.
Crude Oil (CL) was off to a great start this morning, up as much as 2.3%. But it was a close one. CL couldn't manage to hold onto to early gains and drifted lower throughout the day. But a win is a win. With a 0.2% gain and close of $59.29 a barrel, Crude Oil's 6-day losing streak comes to an end.
Apple (AAPL) was a big mover today, up 4.0%. And Qualcomm (QCOM) and Broadcom (AVGO) were up nicely after reports that the two companies will meet to discuss a merger. Broadcom has reportedly committed financing for the merger and was up 2.8%, while Qualcomm finished with a 2.6% gain.
Looking at the economic calendar there are no major reports.
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.