Market Recap for Monday, July 24th, 2017
Stocks fixed mixed today.
The NASDAQ rallied and finished with a new record high. But the S&P and DOW ended the session with a small loss.
Although the NASDAQ was on the move, things were pretty quiet for the S&P and DOW. The S&P traded in just a 7 point range and the DOW was confined to an 88 point range.
With the small ranges and retreat from record highs, it looks like traders are being cautious ahead of some key reports and events this week.
In addition to earnings, we have another vote on health care reform tomorrow, the FOMC Statement on Wednesday, and Donald Trump Jr. and former Trump Campaign Chairman Paul Manafort are set to testify before the Senate committees on Wednesday.
Here’s where the major indices ended the day:
- The S&P finished with a 0.1% loss. Dropping 3 points, the S&P ended at 2,470.
- The DOW ended 0.3% lower. Down 67 points, the DOW closed at 21,513.
- The NASDAQ was up 0.4%. Adding 23 points, the NASDAQ finished at 6,411.
Crude Oil (CL) got off to a nice start this week. With a 1.3% gain, CL finished at $46.35 a barrel.
Today Alphabet (GOOGL) reported earnings after the bell. GOOGL’s revenue was down 28% from a year ago, after a $2.7 billion European anti-trust fine. GOOGL was trading more than 3% lower in after hours trading following the earnings release.
Tomorrow traders have earnings from 3M (MMM), McDonald’s (MCD), and Caterpillar (CAT) to digest.
Looking at the calendar, the most important report economic report is Consumer Confidence at 10:00am ET.
This Week’s Economic Calendar
Real Time Economic Calendar provided by Investing.com.
Have a great trading week!