S&P and NASDAQ hit record highs – Here’s what you need to know…

Market Recap for Tuesday, July 18th, 2017

Stocks had an uphill battle today.

After beginning the day in negative territory, stocks drifted lower. But a rally led by the NASDAQ helped the major indices recover from early losses. And after the dust settled, the S&P and NASDAQ closed at record highs.

It was another day where the DOW and NASDAQ moved in opposite directions. While the DOW was ended in negative territory, the NASDAQ finished higher for the 8th day in a row and closed with a new record for the first time since early June!

Here’s where the major indices ended the day:

  • The S&P finished 0.1% higher. Adding 1 point, the S&P ended at 2,461.
  • The DOW ended 0.3% lower. Down 55 points, the DOW closed at 21,575.
  • The NASDAQ was up 0.5%. Adding 30 points, the NASDAQ finished at 6,344.

Crude Oil (CL) finished 0.9% higher at $46.41 a barrel.

Amazon (AMZN) was a big catalyst in today’s tech move. Up 1.4%, AMZN closed with a new record at $1024.38.

Today health care was back in the news, after 2 key Republicans announced that they will not support the bill. The announcement kills the bill.

In earnings news, Netflix (NFLX) beat expectations and was up as much as 14% because of better than expected subscriber growth.

Earnings will continued to be in focus. We also have Building Permits and Housing Starts at 8:30am ET, and Crude Oil Inventories at 10:30am ET on the economic calendar.

This Week’s Economic Calendar

Real Time Economic Calendar provided by Investing.com.

Have a great trading week!

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