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Stocks Flat Ahead of G20 Meeting – Here’s what you need to know…

June 24, 2019 Stock Market Update


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Stock Market Update Monday, June 24th, 2019

Stocks finished the day mixed.

After a higher start, stocks chopped around in the morning.

Trading was pretty slow after a choppy morning, but a small drop in the afternoon pulled the S&P and NASDAQ into negative territory.

The DOW managed to finish a few points higher while the S&P pulled further away from its record high set on Friday. 

Today President Trump signed an executive order that will place sanctions against Iran. The sanctions come after Iran shot down an unmanned U.S. drone last week.

The last few weeks have been all about interest rates and the Fed.

But today…and this week…the attention turns to trade.

President Trump and President Xi of China will meet during the G-20 summit in Japan. The summit begins on Friday, and traders are anxiously awaiting news from the meeting, hoping the two countries can reach an agreement on trade.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.2% loss. Down 5 points, the S&P ended at 2,945.
  • The DOW ended flat. Adding just 8 points, the DOW closed at 26,728.
  • The NASDAQ was down 0.3%. With a 26 point loss, the NASDAQ finished at 8,006.

Crude Oil (CL) finished higher for the 3rd day straight. With a 6.8% gain, CL ended at $57.81 a barrel.

Trading was pretty quiet, but a few upgrades helped move stocks

DOW stock United Technologies (UTX) jumped 1.1% on an analyst upgrade.

And Deere (DE) was up 1.6% on an upgrade as well.

Bitcoin continued its march higher, jumping 9.5% today!

And Ceasars Entertainment (CZR) made headlines after news that the company will be acquired by Eldorado Resorts (ERI). CZR was up 14.5% and ERI lost 10.6% on the news.

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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