Stock Market Update for Tuesday, July 10th, 2018
Stocks finished higher for the 4th day in a row today. And once again, it was the DOW leading the way.
Energy stocks were up nicely with Crude Oil making a move back towards 3 1/2 year highs. Although this helped the S&P and DOW, the NASDAQ finished flat after a quiet day for tech stocks.
With today's close, the S&P is the highest its been since the sell-off that started February 2nd.
Here's where the major indices ended the day:
- The S&P finished with a 0.4% gain. Up 10 points, the S&P ended at 2,794.
- The DOW ended 0.6% higher. Adding 143 points, the DOW closed at 24,920.
- The NASDAQ was flat. With just a 3 point gain, the NASDAQ finished at 7,759.
- Bitcoin ended 4.5% lower. Dropping $300, Bitcoin is trading at $6,370.
Crude Oil (CL) was higher, closing back above the $74 mark for just the third time this year. Up 0.4%, CL ended at $74.12 a barrel.
Tesla (TSLA) was in the news today, with reports that the company has signed a deal to build a factory in Shanghai. Tesla ended the day with a 1.2% gain.
Pepsi (PEP) was up 4.8% today after reporting better than expected 2nd quarter earnings. And Biogen (BIIB) was a drag on the biotech sector after a downgrade. BIIB ended with a 2.6% loss and has finished lower for two straight days after Friday's big 19.6% gain.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.