Stock Market Update Thursday, April 18th, 2019
This morning Attorney General William Barr and the Mueller report were in the spotlight.
Barr held a press conference at 9:30am ET and released a redacted Mueller report at 11am ET.
Was there collusion and was there an obstruction of justice by the President?
Well, it’s safe to say that the Mueller report helped support exactly what you already believed.
If you’re Republican the report supports the President’s claims and the whole thing was a waste of time and money. If you’re a Democrat, you probably can’t believe the whole thing. And so goes politics…
What’s safer to assume is that the markets shrugged off the news.
Stocks were slightly higher at the open and drifted higher. There was a drop late morning and then a mid-day rally. And by the end of the day, the major indices were trading back near session highs.
Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 5 points, the S&P ended at 2,905.
- The DOW ended higher by 0.4%. Adding 110 points, the DOW closed at 26,560.
- The NASDAQ was down 0.1%. With a 4 point loss, the NASDAQ finished at 7,997.
Crude Oil (CL) was quiet before settling at $64 a barrel with a 0.4% gain.
Aside from the political news, it was a big day for earnings and IPOs.
Honeywell (HON) jumped 3.8% after better than expected numbers, United Rentals (URI) was up 8.2% on an earnings beat.
American Express (AXP) finished higher by 1.7%, Travelers (TRV) was up 2.3%, and Snap-On (SNA) rallied 6.5% (all rallying because of earnings).
In IPO news, Pinterest and Zoom were big winners on their first day of trading
ZOOM (ZM) was up 72.2% from its original IPO price and Pinterest (PINS) was up 28.7% from its IPO price.
Markets are closed tomorrow for Good Friday. Enjoy the 3-day weekend!
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.