S&P Snaps Losing Streak Ahead of G-20
A rough outing from Boeing weighed on the Dow today
The Dow finished with a modest loss today, as a rough day for Boeing (BA) overshadowed a post-earnings surge from Walgreens Boots Alliance (WBA). Elsewhere, all eyes turned to trade ahead of the G-20 summit tomorrow, especially after a Wall Street Journal report indicated Chinese President Xi Jinping is ready to present a set of terms to President Donald Trump. Conflicting trade comments from top White House economic advisor Larry Kudlow threw stocks for a loop, but the S&P 500 and Nasdaq both finished higher, with the former snapping a four-day losing streak.
Continue reading for more on today's market, including:
25 stocks to sell in July.This e-tail stock signal has never been wrong.2 pharma stocks that popped off today.Plus, 2 retail stocks to watch; a big Walmart options trade; and Abercrombie doubling down on CBD.The Dow Jones Industrial Average (DJI - 26,526.58) fell 10.2 points in today's trading. Walgreensled the 18 blue-chip winners with a 4.1% gain, while Boeingpaced the 11 losers with a 3% drop. Intel (INTC) broke even.
The S&P 500 Index (SPX - 2,924.92) added 11.1 points, or 0.4%, while the Nasdaq Composite (IXIC - 7,967.76) tacked on 57.8 points, or 0.7%.
The Cboe Volatility Index (VIX - 15.82) fell 0.4 point, or 2.4%.
5 Items on our Radar Today
A day after roaring to a 18-month high, bitcoin pulled back today. At last check, the controversial cryptocurrency was down 12% to trade around $11,383, after scraping the ceiling of $14,000 yesterday. Bitcoin's record high is just under $20,000, hit back in December 2017. (Reuters)Compared to last year, U.S. auto sales for the month of June likely fell 1.5%, with higher prices dulling demand, according to LMC Automotive and J.D. Power estimates. There's hope that an interest rate cut in July could help offset the rising vehicle prices. (Reuters)These 2 retail stocks could see better days ahead.Breaking down this winning Walmart options trade.Abercrombie & Fitch is expanding its CBD partnership.
Data courtesy of Trade-Alert
Oil Adds a Nickel, Gold Extends Pullback
Oil eked out a gain today as attention shifts to the G-20 summit tomorrow. By the close, August-dated crude added a nickel, or 0.1%, to end at $59.43 per barrel.
Gold pulled back again today for its second straight loss, as a risk-on appetite developed amid easing trade tensions. August-delivered gold gave back $3.40, or 0.3%, to settle at $1,412 an ounce.