Steven Mnuchin helped move the major indices this morning, saying that there’s a “clear path” for a deal between the U.S. and China.
Stocks jumped at the open but pulled back in the first hour of trading. The major indices then traded sideways throughout lunch.
Another pullback in the afternoon left the S&P finished near lows, and the index closed lower for the 5th day in a row.
Continuing to trade in smaller ranges, traders had a “hurry up and wait” attitude for most of the day.
What are traders waiting for? The G-20 meetings starting Friday. Specifically, the meeting between President Trump and President Xi of China.
The S&P closed lower for the 4th day in a row.
Here’s where the major indices ended the day:
The S&P finished with a 0.1% loss. Down 4 points, the S&P ended at 2,914.
The DOW ended flat. Dropping just 11 points, the DOW closed at 26,537.
The NASDAQ wasup 0.3%. With a 25 point gain, the NASDAQ finished at 7,910.
Crude Oil (CL) finished higher for the 5th day in a row. With a 2.6% gain, CL ended at $59.24 a barrel. Today’s Crude Oil Inventories showed a 12.8 million barrel drop in U.S. stockpiles compared to the 2.7 million drop expected.
Apple (AAPL) was on the move today, finishing higher by 2.1%. Closing just below $200 a share, Apple ended with its best close in over 6 weeks.
Bitcoin jumped another 20.3% and is up 39.0% this week alone!
Micron: MU rallied in after-hours trading after reporting better than expected Q3 earnings, then continued its move higher today. The stock was up 13.3% today.
Fedex: FDX was also an earnings mover, jumping 2.5% on better than expected numbers.