Trade wars swept under the rug (at least for the day)

The US stocks have been making it a habit of >1% gains or losses. Today, the bias was to the upside as traders choose to ignore the trade war fear. This despite tweets over the weekend from Trump threatening more, not less and saying today, he was not backing down.

The summary for the day:

  • The S&P rose 29.69 points or 1.10% to 2720.94. The high reached 2728.092728.090 extended to 2675.75
  • The NASDAQ rose 72.836 points or 1.00% at 7330.70. The high reached 7350.06 while the low extended to 7205.31
  • THe Dow industrial average is ending up 336.7 points or 1.37% at 24874.76. The high reached 249611 low extended to 24387.

Some overachievers today:

  • Micron, +5.95%
  • Twitter, +4.79%
  • Netflix, +4.63%
  • Caterpillar, +3.24%
  • Boeing, +2.54%
  • Facebook, +2.14%
  • Home Depot, +1.87%
  • Intel, +1.57%
  • Amazon, +1.56%

Some underachievers today include steel producers on expectations the tariff might not be as strong as expected:

  • Steel dynamics, -2.11%
  • AK steel, -1.85%
  • US Steel, -1.41%
  • Nucor, -0.03%
  • Alcoa, +0.29%