Stock Market Update Monday, April 8th, 2019
Stocks looked pretty weak this morning, dropping during the first 20 minutes of trading. But after the rocky start, the major indices bounce back in in the afternoon.
A slow afternoon rally helped the major indices close at their best levels of the day. And the S&P and NASDAQ finished at new highs of the year.
With today's win, the S&P closed higher for the 8th day in a row. But the DOW was another story.
The blue-chip index struggled once again because of Boeing (BA). The DOW was down 0.3% after Boeing announced that it will cut production for its 737 MAX. Boeing finished the day with a 4.4% loss.
Here's where the major indices ended the day:
- The S&P finished with a 0.1% gain. Up 3 points, the S&P ended at 2,896.
- The DOW ended lower by 0.3%. Dropping 84 points, the DOW closed at 26,341.
- The NASDAQ was up 0.2%. With a 15 point gain, the NASDAQ finished at 7,954.
Crude Oil (CL) rocketed past $64 for the first time since November. Up 1.6%, CL ended at $64.10 a barrel.
A big drop in General Electric (GE) was another reason the DOW lagged behind the other major indices. GE lost 5.2% after J.P. Morgan downgraded the stock.
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.