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Stock Market Update Tuesday, July 23rd, 2019
Stocks finished higher for the 2nd day in a row today.
After a strong open, stocks were sideways for most of the day.
But then U.S. – China trade news helped fuel a rally.
The Bloomberg report said that US Trade Rep Lighhthizer will go to China next week for high-level talks Monday thru Wednesday.
Stocks rallied on the report and the major indices finished the day at session highs.
The S&P closed above the closely watched 3,000 mark for the first time in a week.
Here’s where the major indices ended the day:
- The S&P finished with a 0.7% gain. Up 20 points, the S&P ended at 3,005.
- The DOW ended higher by 0.7%. Adding 177 points, the DOW closed at 27,349.
- The NASDAQ was up 0.6%. With a 47 point gain, the NASDAQ finished at 8,251.
Crude Oil (CL) traded higher for the 3rd day in a row. With a 0.9% gain, CL ended at $56.71 a barrel.
There were some big earnings moves today.
Coca Cola (KO) jumped 6.1% after an earnings beat. And Sherwin Williams (SHW) was up 7.8%.
Apple (AAPL) finished with its 3rd best close of the year after a Wall Street Journal report said that the company is looking into buying Intel’s (INTC) smartphone modem chip business. Apple finished higher by 0.8% and Intel was up 0.8% as well.
Visa (V), Chipotle (CMG), and Snap (SNAP) are reporting after the bell.
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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