New highs for the year! – Here’s what you need to know…

Stock Market Update Thursday, April 4th, 2019

The S&P closed higher for the 6th day straight. But like yesterday, stocks were all over the place.

After rallying in the morning, stocks dropped. The major indices were at session lows with losses mid-day. 

But around 12:50pm ET stocks turned on a dime. The afternoon rally helped bring the DOW and S&P back into positive territory.

The S&P closed at a new high for the year. And the DOW led the major indices with a 0.6% gain.

But it wasn’t all green for the indices. The NASDAQ lagged behind the major indices and actually finished with a small loss.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.2% gain. Up 6 points, the S&P ended at 2,879.
  • The DOW ended higher by 0.6%. Adding 167 points, the DOW closed at 26,385.
  • The NASDAQ was down 0.1%. With a 4 point loss, the NASDAQ finished at 7,892.

Crude Oil (CL) finished lower for the 2nd day in a row. Down 0.6%, CL ended at $62.11 a barrel. 

Tesla (TSLA) was hammered today after reporting a 31% drop in 1st quarter deliveries. The stock finished lower by 8.2%

Boeing (BA) was a big contributor to today’s DOW gains.

The stock was up 2.9% after reports that a software fix for its 737 MAX plane was successful. There was also news that Ethiopian Airlines released initial investigation results that showed that the pilots were not responsible for the crash and that they followed procedures recommended by Boeing and the FAA.

The major indices are off to a great start in April, with gains ranging from 1.6% to 2.1%.

Now traders will turn their attention to the Jobs Report released tomorrow at 8:30am ET.

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.

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