Stock Market Update for Monday, August 6th, 2018
Stocks got off to a positive start this week.
After a higher open, the major indices traded sideways this morning. But stocks finally started moving during lunch. The rally continued into the afternoon session, and the major indices finished the day with gains.
With today's close, the S&P has finished higher for 3 days in a row and just 0.8% below its record high set in January
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 2,850.
- The DOW ended 0.2% higher. Adding 40 points, the DOW closed at 25,502.
- The NASDAQ was up 0.6%. Higher by 48 points, the NASDAQ finished at 7,860.
- Bitcoin ended 6.5% lower. Dropping $475, Bitcoin is trading at $6,900.
Crude Oil (CL) was up nicely and came within 8 cents of $70 before pulling back. Up 0.8%, CL ended at $69.02 a barrel.
Apple (AAPL) made new record highs with a 0.5% gain today, extending its win streak to 5 consecutive sessions. But Facebook (FB) was the big mover, having its best day in almost 2 weeks when it was crushed on disappointing earnings. Facebook ended the day with a 4.5% gain.
Today the VIX (aka Fear Index) finished lower by 3.2%, closing at its lowest level since January.
In earnings news, Tyson (TSN) jumped 3.3% after better than expected earnings.
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.