Dow's first rise after 8 straight down days
The US stocks are ending the day mixed despite some more concerns about trade.
Trump threatened to slap a 20% tariff on European cars coming in the US. The EU has a $44.9b auto surplus with the US. That is a big industry for the EU. Trump wants the EU to build all their cars here. The EU puts a 10% tariff on US cars. It will be interesting the reaction.
For the markets today, the closing numbers are showing:
- The S&P closed up 5.13 points or 0.19% at 2754.88. The high reached 2764.17. The low extended to 2752.68
- The Nasdaq fell -20.136 points or -0.26% at 7692.81. The high reached 7739.71. The low extended to 7679.
- The Dow closed up 119.19 or 0.49% at 24580.89. The high reached 24663.15. The low extended to 24526.97
The Dow was helped by energy on the back of sharply higher crude oil prices after the OPEC meeting failed to convince the markets that supply was going to outstrip demand (in fact the opposite is the feeling).
- Exxon Mobil rose 2.12%
- Chevron rose 2.04%
- Occidental petroleum is up 1.52%
- Marathon Oil rose 7.83%
- Dow Dupont rose 2.63%
- McDonald's, +2.54%
- Verizon, +2.34
- General Electric, +2.27%
- Twitter, +1.46%
Some losers today:
- Tesla, -4%
- micron, -3.94%
- Nvidia, -2.40%
- Adobe, -2.09%
- United Continental, -2.04%
- Delta Airlines, -1.92%
The airlines were lower on the back to the sharp rise in energy prices today.
For the week, there are red numbers across the board:
- Dow fell -2.03%
- S&P fell -0.89%
- Nasdaq fell -0.69%