With the mid-term elections behind us and the major indices trading at November highs, stocks were bound to take a bit of a breather.
And today was the day.
After a slightly lower open, stocks traded sideways for most of the session.
The major indices dipped a little after the statement, then traded sideways into the close.
The DOW managed to end the day slightly positive. But the S&P and NASDAQ finished with small losses.
Here's where the major indices ended the day:
- The S&P finished with a 0.3% loss. Down 7 points, the S&P ended at 2,807.
- The DOW ended flat. Adding just 11 points, the DOW closed at 26,191.
- The NASDAQ was down 0.5%. With a 40 point loss, the NASDAQ finished at 7,531.
- Bitcoin finished lower by 1.4%. Down $90, Bitcoin ended at $6,410.
Crude Oil (CL) closed lower for the 9th day in a row! Down 1.6%, CL finished at $60.68 a barrel. With today's loss, Crude Oil has entered "bear market territory", dropping 20% from its October 3rd high.
In earnings news, better than expected earnings was the theme today. But better numbers were overshadowed by lower guidance. D.R. Horton (DHI) dropped 9.0% on guidance, Qualcomm (QCOM) lost 8.2% on the same concern, and Wynn Resorts (WYNN) was lower by 13.1%.
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