By Markus Heitkoetter
￼Stocks started the day slightly lower. And with no major reports, stocks were pretty indecisive for most of the day.
But after a slow morning session, stocks began to slide in the afternoon.
Why the drop?
Well without anybody to blame, of course we need to blame Crude Oil!
Discussions about Crude Oil (CL) day might be getting a bit old. But big drops in CL are definitely having an impact on the overall stock market.
This was apparent today…Every time CL was trading at a new session lows, stocks were sliding lower as well.
Here’s where the major indices ended the day:
The S&P finished with a 1.6% loss. Down 30 points, the S&P ended at 1,877.
The DOW ended 1.3% lower. Losing 208 points, the DOW closed at 15.885.
The NASDAQ ended with a 1.6% decline. The NASDAQ finished 73 points lower at 4,518.
Crude Oil (CL) finished the day at $30.38. With a 5.6% loss CL erased last week’s gains in a single trading session.
There were no major reports today, but there are some key items that traders are keeping an eye on this week:
Apple (AAPL) is scheduled to report earnings after the bell on January 26th. On Wednesday, we have the first FOMC Statement for 2016, and Friday we’ll get Advance GDP.
Aside from AAPL’s post-session report, we have Consumer Confidence tomorrow at 10:00am ET.