Stock Market Update Monday, July 29th, 2019
Stocks were mixed today, with traders waiting for this week’s Fed decision.
The major indices traded lower immediately after the open. But after the early morning dip, stocks recovered and moved sideways for the rest of the session.
Although the S&P and NASDAQ never made it into positive territory, they were able to finish well off of today’s lows.
And while the S&P and NASDAQ struggled, the DOW managed to end the day with a small gain.
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 3,021.
- The DOW ended higher by 0.1%. Adding 29 points, the DOW closed at 27,221.
- The NASDAQ was down 0.4%. With a 37 point loss, the NASDAQ finished at 8,293.
Crude Oil (CL) found support around the $56 mark and finished higher for the 3rd day straight. With an 0.8% gain, CL ended at $56.67 a barrel.
Apple (AAPL) was higher today after UBS raised its price target for the stock. Apple finished the day with a 0.9% gain.
Beyond Meat (BYND) reported worse than expected earnings results after the bell. The stock is down 13% in after-hours trading.
The Fed will kick off its 2-day Fed meeting tomorrow. But Wednesday will be the real focus, with the interest rate decision coming at 2pm ET followed by a press conference at 2:30pm 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.