Stock Market Update Wednesday, February 6th, 2019
Stocks finished slightly lower after a slow trading session.
All eyes were on last night's State of the Union address. But the speech from President Trump did little to move the markets.
The S&P was stuck in a 14 point range during the trading session, which is the 2nd smallest trading range of the year.
With today's drop, the indices saw their 5-day win streak come to an end.
And here's where the major indices ended the day:
- The S&P finished with a 0.2% loss. Down 6 points, the S&P ended at 2732.
- The DOW ended 0.1% lower. Dropping 21 points, the DOW closed at 25,390.
- The NASDAQ was down 0.4%. With a 27 point loss, the NASDAQ finished at 7,375
- Bitcoin finished lower by 1.8%. Down $60, Bitcoin ended at $3,345.
Crude Oil (CL) snapped a 2-day losing streak. Up 0.6%, CL ended at $53.98 a barrel.
General Motors (GM) was up 1.6%, rallying to highs not seen since June of last year. The rally came on better than expected earnings even though sales in China were down 25%.
Snap (SNAP) reported a loss last quarter. But the 4 cent loss per share was much better than the 7 cent loss that was expected and the stock took off. Revenue was also better than expected and the stock finished the day with a 22.0% gain.
Chipotle (CMG) reported better than expected earnings after the bell today. A 6.1% increase in same-store sales was the best the company has seen in 6 quarters. The stock is up almost 10% in after-hours trading.
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.