Stocks end mixed, but is bitcoin back?

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.

Author

Markus Heitkoetter

Rockwell Trading

As founder and CEO of Rockwell Trading Services LLC., Markus Heitkoetter has shared his trading methods and ideas with more than 300,000 traders in over 196 countries.

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.