Stocks hold onto gains and Crude Oil rallies!

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Stock Market Update Thursday, March 19th, 2020

Boeing Stock Analysis after the crashStocks finished the day higher.

On a positive note, the major indices were up across the board. But today’s gains only put a small dent in yesterday’s losses.

It was another wild ride in overnight trading.

The E-Mini S&P was up 2.5% early. Then with a 7.5% slide, futures were down almost 5.0%

After the huge overnight swings, stocks opened slightly lower.

But right after the bell stocks rallied.

Trading was pretty choppy for most of the day, but a little before 5pm ET stocks were trading at session highs.

Then there was a slide into the close. But in spite of the last hour drop, the major indices managed to finish the day in the green.

The NASDAQ was the leader with a 2.3% gain. And today’s rally put the DOW back above 20,000.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.5% gain. Up 11 points, the S&P ended at 2,409.
  • The DOW ended 1.0% higher. Adding 188 points the DOW closed at 20,087.
  • The NASDAQ was up 2.3%. With a 157 point gain, the NASDAQ finished at 7,147.

Crude Oil (CL) had a HUGE day. With a 23.6% gain, Crude Oil finished at $25.80 a barrel.

Uber (UBER) and Lyft (LYFT) made nice comebacks today. The companies finished higher by 36.6% and 29.0% respectively.

Today Senate Republicans unveiled a coronavirus relieve plan that includes $1,200 in cash payments for individuals, $2,400 for couples, and $500 for every child.

In a note to clients today, Bank of America said that the economy has already “fallen into a recession.” Adding that “jobs will be lost, wealth will be destroyed and confidence depressed.”

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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