Markus Heitkoetter
Rockwell Trading
Stocks made new record highs again today.
The major indices opened at record levels after news that U.S. and China had agreed to remove existing tariffs.
There was a surprise drop late in the afternoon after reports that there is some internal opposition inside the White House over the tariff rollbacks.
But after making session lows with 30 minutes left in the day, stocks moved higher into the close.
The DOW, S&P, and NASDAQ all made new record highs today. But it was the DOW leading the way with a 0.7% gain.
Here’s where the major indices ended the day:
- The S&P finished with a 0.3% gain. Up 8 points, the S&P ended at 3,085.
- The DOW ended higher by 0.7%. Adding 182 points, the DOW closed at 27,675.
- The NASDAQ was up 0.3%. With a 24 point gain, the NASDAQ finished at 8,411.
Crude Oil (CL) bounced back after yesterday’s drop. Up 1.4%, CL ended at $57.11 a barrel.
With today’s trade news, the 10-year yield saw its biggest move since President Trump was elected.
And bank stocks rallied on the move in interest rates.
Bank of America (BAC) finished higher by 1.3% and Citigroup (C) rallied 1.9%.
Qualcomm (QCOM) ended the day with a 6.3% gain after reporting better than expected earnings yesterday.
But online travel companies had a rough day.
Expedia Group (EXPE) lost 27.4% after worse than expected earnings. And TripAdvisor (TRIP) dropped 22.4%.
In after-hours trading, Disney (DIS) jumped more than 5.0% after an earnings beat. Disney will launch its new Disney+ streaming service on Tuesday.
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.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.