Market Recap for Thursday, July 20th, 2017
The S&P and NASDAQ rallied to all-time highs today. But in the end, the major indices finished the session mixed.
Today’s trading session was rather quiet. But we did see a quick slide lower in the morning, with stocks reacting to more news about President Trump.
The sell off came after news hit that Special Counsel Robert Mueller is considering using President Trump’s business ties in his investigation into Russia’s involvement in the Presidential election. Stocks reacted to the news by moving lower, but then quickly recovered.
Once again, it was the NASDAQ leading the indices. The NASDAQ is up over 5.0% from lows this month. And the NASDAQ was the only major index to finish the day with a new record close.
Here’s where the major indices ended the day:
- The S&P finished flat. Less than half a point lower, the S&P ended at 2,473.
- The DOW ended 0.1% lower. Down 29 points, the DOW closed at 21,612.
- The NASDAQ was up 0.1%. Adding 5 points, the NASDAQ finished at 6,390.
Crude Oil (CL) struggled after a strong open and finished back below $47 a barrel. With a 0.8% loss, CL ended at $46.95.
In early trading, traders were keeping an eye on central bank decisions overseas. But with the Bank of Japan and European Central Bank keeping rates unchanged, there weren’t any surprises and there was little reaction in the U.S.
Earnings had a big impact on the stock market this week, and will be the main focus tomorrow. Especially since there are no major items scheduled on the economic calendar.
This Week’s Economic Calendar
Real Time Economic Calendar provided by Investing.com.
Have a great trading week!