Stock Market Update Thursday, February 7th, 2019
Stocks pulled back today, erasing February gains.
The major indices kicked off the session with small losses. There was a small rally early morning, then the selling came.
From around 10:30am to 11:30am ET, stocks moved straight down. After finding support, the major indices were sideways for most of the afternoon. There was a small push higher into the close, but it didn't put much of a dent in the earlier losses.
Trade worries were a big part of today's drop.
There were reports that President Trump will not meet with Chinese President Xi before their March deadline. And the President's economic advisor Larry Kudlow said that the White House and China have a "sizeable distance to go" when it comes to trade talks.
And here's where the major indices ended the day:
- The S&P finished with a 0.9% loss. Down 26 points, the S&P ended at 2706.
- The DOW ended 0.9% lower. Dropping 221 points, the DOW closed at 25,170.
- The NASDAQ was down 1.2%. With an 87 point loss, the NASDAQ finished at 7,288.
- Bitcoin finished lower by 0.2%. Down $5, Bitcoin ended at $3,340.
Crude Oil (CL) finished lower again and is down 3 out of the last 4 sessions. Down 2.4%, CL ended at $52.69 a barrel.
Twitter (TWTR) dropped 9.8% after disappointing earnings.
Chipotle (CMG) bucked the overall trend today. The stock was higher by 11.4% after reporting 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.