Stocks on pace for the 2nd up week in a row (but lots of ups and downs).
With one more day to go, the US stocks are on pace to close higher for the 2nd week in a row, and with today’s gain is up for the 3rd day in at row.
Needless to say, the feeling was different yesterday morning when the US and China were on their way to a huge trader war (and the verdict is still out). However, a few comments here and there from new economic advisor Larry Kudlow, followed by comments from Canada PM Trudeau that significant steps were being made on NAFTA, turned the beat around and pushed global stocks higher.
The summary today shows:
- The S&P is ending up 18.15 points or 0.69% at 2662.94. The 2693 is the 100 day MA and will be a key MA in tomorrows trading (through the US employment report).
- The Nasdaq rose 34.44 points or 0.49% at 7076
- The Dow is ending up 240 points at 24476. It traded as high as up 357 at the highs today.
Some gainers today:
- Tesla up 6.54%
- Amazon was up 2.92%
- Facebook gained 2.73%
- Boeing was up 2.71%
- Caterpillar was up 2.01%
- Netflix was up 1.74%
Those numbers look like the market of old.
On the downside:
- Micron fell -6.65% on a downgrade
- Nviida was down -2.15%
- Celegene fell -1.80%
- Gilead fell -0.77%
- IBM was unchanged.