One thing is for certain... volatility is back!
After another volatile trading day, stocks finished lower (again).
All 11 S&P 500 sectors were lower today. And with today's drop, the S&P closed below its 500-day moving average for the first time since March.
Stocks experienced a small bounce late in the session, after news that President Trump and Chinese President Xi will meet at the G-20 summit in Argentina. But bounce or no bounce, the DOW still finished the day with a 546 point loss!
Here's where the major indices ended the day:
- The S&P finished 2.1% lower. Down 57 points, the S&P ended at 2,728.
- The DOW ended with a 2.1% loss. Dropping 546 points, the DOW closed at 25,053.
- The NASDAQ was down 1.3%. With a 93 point loss, the NASDAQ finished at 7,329.
- Bitcoin finished 5.2% lower. Down $340, Bitcoin ended at $6,190.
Crude Oil (CL) was hammered today. Losing 3.1%, CL finished at $70.92 a barrel. Today's Crude Oil Inventories showed a 6.0 million increase in U.S. stockpiles compared to the 2.3 million drop expected.
Walgreens Boot Alliance (WBA) lost 2.0% after mixed earnings results.
Tomorrow traders will focus on earnings and bank stocks, with JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) unofficially kicking of Q3 earnings season.
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