Markus Heitkoetter
Rockwell Trading
Stocks were quiet today after yesterday's strong to start to April.
The S&P is just 2% away from its record high. But today the index went nowhere and the major indices ended the day mixed.
The NASDAQ was the clear leader today, finishing with a 0.3% gain. The index was helped out by Facebook (FB) and its 3.3% move.
Here's where the major indices ended the day:
- The S&P finished flat at 2,867.
- The DOW ended lower by 0.3%. Dropping 79 points, the DOW closed at 26,179.
- The NASDAQ was up 0.3%. With a 20 point gain, the NASDAQ finished at 7,849.
Crude Oil (CL) blew right past the $61 mark yesterday and today it was the $62 mark that was breached. It was the first close above $62 since November 8th. Up 1.6%, CL ended at $62.55 a barrel.
Is Bitcoin back? Or was it just an April Fools' rally?
The cryptocurrency rocketed higher this morning, hitting the $5,000 mark for the first time in more than 4 months. The rally came after an April Fool's article said that there was an "emergency meeting" held by regulators to approve a Bitcoin ETF. But there was also a Reuters report that a private buyer created a $100 million position over a short period. Whatever the reason for the rally, Bitcoin ended the day with a 16.9% gain.
Walgreens Boots Alliance (WBA) was hit with a loss after disappointing earnings. WBA ended the day with a 12.8% loss.
Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.
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