Stock Market Update Wednesday, March 13th, 2019
Stocks opened higher and never looked back today.
After the strong start, stocks rallied all morning. There was a pause in the rally mid-day and a small pullback in the afternoon. But the S&P finished strong with its 3rd winning session in a row.
The S&P and NASDAQ finished with new highs for the year. The DOW was also higher but has struggled this week because of Boeing (BA).
And today President Trump added to Boeing’s concerns.
The President decided to issue an executive order to ground the 737 Max aircraft. The order came after the President talked with Boeing’s President and the FAA. Boeing said the recommendation came out of “an abundance of caution.” The decision came after Canada decided to close its airspace to the plane earlier in the day.
Boeing was down as much as 3.2%, dipping below the lows set on Monday after the 737 Max crash. But Boeing bounced back to finished the day with 0.5% gain.
Here’s where the major indices ended the day:
- The S&P finished with a 0.7% gain. Up 19 points, the S&P ended at 2,811.
- The DOW ended higher by 0.6%. Adding 148 points, the DOW closed at 25,703.
- The NASDAQ was up 0.7%. With a 52 point gain, the NASDAQ finished at 7,643.
Crude Oil (CL) finished higher for the 3rd day in a row. Up 0.2%, CL ended at $57.86 a barrel.
In happy state news, Hawaii took the top spot in a Gallup poll surveying overall well-being. The worst state for overall well-being? West Virginia. The poll took careers, relationships, finance, community and health into consideration.
And in Facebook (FB) is down news, Facebook experienced an outage earlier today. But the news didn’t have much of an impact on the stock. FB finished the day with a 0.8% gain with its best close of the year.
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.