Record highs, Google Earnings and FOMC – Here’s what you need to know…

Stock Market Update Monday, April 29th, 2019

Bring out the record books!

The S&P and NASDAQ rallied to record highs and finished at record levels today.

This morning stocks rallied at the open. There was a pullback a little after 10am ET, then stocks drifted higher for most of the day.

The major indices gave up some gains in the last 15 minutes of the day but still managed to end the day with a win. While the S&P and NASDAQ cruised into the record books with new record closes, the DOW finished flat.

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 2,943.
  • The DOW ended flat. Adding 11 points, the DOW closed at 26,554.
  • The NASDAQ was up 1.9%. With a 148 point gain, the NASDAQ finished at 8,146.

Crude Oil (CL) found support around $63 a barrel and finished higher. Up 0.4%, CL ended at $63.57 a barrel.

Alphabet (GOOG) finished with a 1.2% gain ahead of today’s earnings report (reported after the bell). But the stock is down 6.0% in after-hours trading on worst than expected revenue.

Looking at the economic calendar, the FOMC Statement on Wednesday and the Jobs Report on Friday will be the key items to pay attention to this week.

It will also be a big week for earnings.

Tomorrow we’ll see the reaction to Alphabet (GOOG). We’ll also hear from Apple (AAPL), Advanced Micro Devices (AMD), and General Electric (GE).

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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