Stock Market Update Tuesday, June 11th, 2019
Stocks got off to a great start today.
With a higher open, the major indices rallied to 1-month highs. At one point, the S&P was up 0.8% and the NASDAQ was higher by 1.1%.
But after hitting session highs in the first 5-10 minutes of trading, stocks retreated. And the retreat lasted until early afternoon.
There was a small rally around 2pm ET, but the damage was done.
With today’s slide, the major indices finished slightly lower, snapping the DOW’s 6-day win streak and the S&P and NASDAQ’s 5-day rally.
There really wasn’t a clear reason for today’s drop, aside from the fact the S&P is up over 6.0% in just 6 trading sessions and due for a down day!
Here’s where the major indices ended the day:
- The S&P finished with a small loss. Down a point, the S&P ended at 2,886.
- The DOW ended lower by 0.1%. Dropping 14 points, the DOW closed at 26,049.
- The NASDAQ ended slightly lower. With less than a 1 point loss, the NASDAQ finished at 7,823.
Crude Oil (CL) opened higher then pulled back for the 2nd day in a row. But today CL ended with a small win. Higher by 0.1%, CL ended at $53.30 a barrel.
Facebook (FB) hung onto today’s gains. The stock finished higher by 1.9% after an analyst upgrade.
Beyond Meat (BYND) was hammered today. Following its impressive 2-day post-earnings rally, the stock dropped 25%, closing right below Monday’s open.
Tomorrow traders will keep an eye on inflation data. The Consumer Price Index (CPI) will be released before the bell 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.