Stock Market Update Thursday, June 6th, 2019
Stocks are having quite a week.
After Monday’s drop, the S&P and NASDAQ have finished higher for 3 days straight, and the DOW is on a 4-day winning streak.
Today’s rally came after reports that the U.S. might postpone the 5% tariff on imports from Mexico. The news comes after Mexico asked for more time to reach ideal.
Stocks were higher at the open. But it was a rally in the afternoon that sent the major indices to session highs, locking in another win for the week.
With a 906 point gain in the last 4 sessions, the DOW is on track to have its best week of the year!
Here’s where the major indices ended the day:
- The S&P finished with a 0.6% gain. Up 17 points, the S&P ended at 2,843.
- The DOW ended higher by 0.7%. Adding 181 points, the DOW closed at 25,721.
- The NASDAQ was up 0.5%. With a 41 point gain, the NASDAQ finished at 7,617.
Crude Oil (CL) found support around the $52 mark and finished the day higher. Up 1.8%, CL ended at $52.63 a barrel.
Speaking of rebounds, Tesla (TSLA) is experiencing a nice rebound this week, finishing higher by 4.8% today. This rally comes after last months’ 22.4% slide.
Advanced Micro Devices (AMD) was a nice mover as well, rallying 7.9% after an upgrade from Morgan Stanley.
In after-hours trading, Beyond Meat (BYND) was up as much as 23% after reporting better than expected earnings. In the first earnings report for the company since its IPO, the company reported a net loss of $6.6 million but announced that they expect revenue to double in 2019.
Tomorrow traders will keep a close eye on the Jobs Report 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.