Markus Heitkoetter
Rockwell Trading
Stocks had ANOTHER record breaking day today.
The major indices kicked off the trading day with gains. Then traded sideways.
But in the afternoon stocks were making new records. And after an afternoon rally, the major indices finished at highs of the day.
With today’s gains the S&P, DOW, and NASDAQ all made new records. And the S&P rallied past 3,300 for the first time ever.
Here’s where the major indices ended the day:
- The S&P finished with a 0.8% gain. Up 28 points, the S&P ended at 3,317.
- The DOW ended higher by 0.9%. Up 267 points, the DOW closed at 29,298.
- The NASDAQ was up 1.1%. With a 98 point gain, the NASDAQ finished at 9,356.
Crude Oil (CL) found support at $58 today and rallied. Up 1.1%, CL ended the session at $58.47 a barrel.
In earnings news, Morgan Stanley (MS) was a winner today, jumping 6.6% after beating expectations. Charles Schwab (SCHW) was an earnings winner as well, up 4.0% on better than expect numbers.
It’s just the beginning of earnings season. But we’re off to a great start.
According to FactSet, 7% of S&P 500 companies have reported Q4 earnings and 76.5% have reported better than expected numbers.
Welcome to the club…
Apple (AAPL) did it in 2018. Then Microsoft (MSFT) and Amazon (AMZN) followed.
And today, Alphabet (GOOGL) joined just a handful of companies in the $1 trillion dollar market cap club after making new record highs. GOOGL finished the day at 1450.16 with an 0.8% gain.
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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Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.