S&P, Nasdaq Make It 5 in a Row on Tech Strength
Chip stocks were an outperformers in today's trading
U.S. stocks finished a choppy trading day higher, with Wall Street optimistic a U.S.-China trade deal is within reach. This, alongside strength in the tech sector, had stocks brushing off a dreary update on private payrolls. By the close, the Dow had muscled higher, while the S&P 500 and Nasdaq brought their daily win streak to five.
Continue reading for more on today's market, including:
3 trading ideas out of this underloved sector. The Tesla bull signal flashing ahead of tomorrow's SEC showdown. Biotech blasted with analyst bear note.Plus, why this metal stock surged; one retailer extended its lengthy win streak; and Nasdaq's top stock today.The Dow Jones Industrial Average (DJI - 26,218.13) added 39 points, or 0.2%. DowDuPont (DWDP) paced the 16 advancing blue chips with a 2.3% gain, while Boeing (BA) took the biggest hit, shedding 1.5%. McDonald's (MCD) ended the day flat.
The S&P 500 Index (SPX - 2,873.40) closed up 6.2 points, or 0.2%, and the Nasdaq Composite (IXIC - 7,895.55) added 46.8 points, or 0.6%.
The Cboe Volatility Index (VIX - 13.74) picked up 0.4 point, or 2.8%.
5 Items on our Radar Today
Amid increased scrutiny of tech companies, Amazon.com (AMZN) said it has eased back on promoting its private-label products, while also relocating promotions to less-prominent areas of its website. This follows recent criticisms from Democratic Senator Elizabeth Warren of Massachusetts, who called AMZN's advertising tactics for its own products a "conflict of interest." (CNBC)Investigators for the late-October Lion Air Boeing 737 MAX 8 crash have linked a faulty sensor repair to a Floridashop prior the incident. While there's no evidence the same repair shop worked on the Ethiopian Airlines 737 MAX 8 that crashed last month, maintenance and pilot actions are being investigated. (Bloomberg)This metals stock surged after the company hiked its forecast.Urban Outfitters stock eyes 8th straight win.This energy stock sailed to the top of the Nasdaq today.
Data courtesy of Trade-Alert
Gold Finishes Flat, Oil Snaps Win Streak
A surprise rise in domestic crude inventories sent oil lower, to snap its three-day win streak. The May-dated contract closed 12 cents, or 0.2%, lower, at $62.46 per barrel.
Optimism around U.S.-China trade negotiations kept a lid on gold futures. The June-dated contract closed down 10 cents at $1,295.30 per ounce.