Stocks make small gains as everyone waits for the Fed – Here’s what you need to know…

Stock Market Update Monday, July 22nd, 2019

how to trade stocksStocks were slightly higher today with traders focused on earnings this week.

After a slightly higher open, the major indices pulled back in the morning.

Stocks were trading at session lows around lunch, then rallied. 

Trading was quiet in the afternoon, and stocks eventually finished slightly higher than today’s open.

Today tech stocks led the way today with stocks like Micron (MU) up 3.7%. Apple (AAPL) also got a nice boost after Morgan Stanley raised its price target. Apple finished with a 2.3% gain.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.3% gain. Up 8 points, the S&P ended at 2,985.
  • The DOW ended higher by 0.1%. Adding 18 points, the DOW closed at 27,172.
  • The NASDAQ was up 0.7%. With a 58 point gain, the NASDAQ finished at 8,204.

Crude Oil (CL) traded back above $56 with traders keeping an eye on Iran and possible developments in the Middle East. With an 0.8% gain, CL ended at $56.19 a barrel. 

Today President Trump was targeting the Fed again. This morning the president tweeted “…they missed it (Big!). Don’t miss it again!”

The Fed will hold their 2-day Fed Meeting next Tuesday and Wednesday, announcing their Fed decision Wednesday afternoon.

In earnings news, Halliburton (HAL) jumped 9.2% after reporting better than expected numbers.

This week Facebook (FB) is set to release earnings on Wednesday. And Amazon (AMZN) will report on Thursday.

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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