Stocks just don’t move!

Stock Market Update Monday, September 23rd, 2019

Stocks opened the day with losses after weak economic data in Europe.

In Germany, flash Manufacturing PMI data came in at the lowest levels since the financial crisis. With weak manufacturing indicating contraction instead of expansion, European markets were down more than 1.0%.

But after the rocky start, stocks clawed their way higher. And after a small pullback in late trading stocks ended the day mixed.

Over the last few trading days the push to record highs has definitely stalled.

The S&P and DOW are now 1.0% away from record highs, and the NASDAQ is trading 2.7% below its record.

Here’s where the major indices ended the day:

  • The S&P finished flat. Down less than a point, the S&P ended at 2,992.
  • The DOW ended higher by 0.1%. Adding 15 points, the DOW closed at 26,950.
  • The NASDAQ was down 0.1%. With a 5 point gain, the NASDAQ finished at 8,112.

Crude Oil (CL) bounced back after a down day on Friday. With a 1.0% gain, CL ended at $58.64 a barrel.

American Express (AXP) helped the DOW lead the major indices today. The stock rallied 1.2% after increasing its dividend and reporting a buyback program of 120 million shares.

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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