Tag: S&P 500 (CME:SP500)

Hello traders everywhere. Shortly after Bitcoin broke thru the $8,000 level it suffered it's biggest loss of the year trading as low as $6,178 on the day. Bitcoin has recovered more than 50% since the low hit earlier today. However, it is still down around -5% on the day at $7,071. Much like the recent massive move higher there doesn't seem to be a reason for the sell-off other than profit taking, so I'll just chalk it up to that. Look for the 30-day MA to provide support sitting right above the $6,000 level at $6,009.52.

As for stocks, the market is ending the volatile week with a thud siting relatively unchanged as we enter afternoon trading. The DOW traded 10 points higher, erasing a 200-point drop, while the S&P 500 and NASDAQ traded below the flatline but also were off earlier lows.

Key Levels To Watch Next Week:

Continue reading "Bitcoin Suffers Its Biggest Loss Of The Year" →

Hello traders everywhere. The stock market opened in negative territory this morning with the DOW falling as much as 190 points in early trading before turning around to head into positive territory on news that President Trump is expected to delay a decision on tariffs on imported cars and parts by up to six months, according to multiple sources.

The early morning drop came after the release of weaker-than-expected economic data stoked fears that the U.S. - China trade war is dragging down global economic growth. U.S. retail sales fell 0.2% in April, the Commerce Department said Wednesday.

Overnight, data released in China showed industrial production rose by 5.4% in April on a year-over-year basis, notching the slowest pace of growth since May 2003. Economists polled by Refinitiv expected an expansion of 6.5%. Chinese retail sales also disappointed economists. Continue reading "Auto Tariff Delay Lifts Market" →

Hello traders everywhere. The Dow was down over 300 points or -1.19%, meanwhile the S&P 500 and Nasdaq are posting daily losses over -1%. Friday's decline capped off a deep sell-off this week that will be the worst weekly loss for the stock market of 2019 with the S&P 500, DOW and NASDAQ losing -3.5%, -3.5% and -4.4% respectively.

Stocks declined Friday as President Donald Trump said "there's no need to rush on a trade agreement with China" and "tariffs will make the United States stronger". Continue reading "Worst Weekly Loss Of 2019 For Stocks" →

Hello traders everywhere. After two days of losses, stocks have ended their slide and are moderately higher on the day. The Dow was up as much as 130 points Wednesday, rebounding from earlier losses. The S&P 500 and NASDAQ have each gained about 0.3%. The Dow was down 75 points at its low in early trading.

The move can be attributed to comments by President Donald Trump via Twitter saying that China is coming this week to make a deal, that comment was later affirmed by White House Press Secretary Sarah Sanders. Sanders told reporters that the White House has gotten "indications" that the Chinese delegation coming to Washington wants to make an agreement.

Earnings season is entering its final stretch, first-quarter profits are now seen rising 1.2%, a sharp improvement from the 2.3% decline expected at the start of the season. Of the 426 S&P companies that have reported so far, about 75% have beaten profit estimates, according to Refinitiv data.

Key Levels To Watch This Week:

Continue reading "Stocks End Slide Edging Higher" →

Hello traders everywhere. The stock market is making gains Friday, rebounding from two days of losses, as data showed U.S. job creation was stronger than expected in April. The U.S. added a robust 263,000 new hires in April, while the unemployment rate fell to 3.6%, the lowest since December 1969, according to a Labor Department report Friday. The nonfarm payroll growth far outpaced Wall Street expectations of 190,000 and a 3.8% jobless rate, according to Dow Jones estimates.

For the second week in a row, the DOW will end the week relatively unchanged continuing to stuck around the $26,500 level. The S&P 500 and NASDAQ will also finish the week relatively unchanged after posting all-time record high closes earlier in the week.

The U.S. Dollar will lose -.47% on the week after two straight weeks of gains. Even with the loss, the dollar is still above our key level to watch at $96.83. Continue reading "Market Rebounds After Two Days Of Losses" →