Market Recap for 26th Apr 2016 – Tomorrow could be a big day!

By Markus Heitkoetter

Stocks ended the day mixed as traders direct their attention to tomorrow’s Fed Statement.

It was another day with weaker data: Core Durable Goods and Durable Goods data were worse than expected.

Consumer Confidence was also below expectations with a 94.2 report versus a 95.8 forecast.

The weaker than expected data helped support the idea that the Fed is unlikely to make any big decisions with tomorrow’s Fed Statement, but you never know. Traders will pay close attention to every single word, and the slightest change in wording could move the markets!

Today the S&P and DOW managed to end the session in positive territory, but the NASDAQ was lower with Apple (AAPL) down 0.7% ahead of today’s earnings release.

Here’s where the major indices ended the day:

The S&P finished with a 0.2% gain. Up 4 points, the S&P ended at 2,092.

The DOW ended 0.1% higher. Adding 13 points, the DOW closed at 17,990.

The NASDAQ was down 0.2%. With a 7 point loss, the NASDAQ finished at 4,888.

Crude Oil (CL) had an impressive recovery today. Erasing yesterday’s losses with a 3.0% gain, CL finished the session at $43.92 a barrel…the 2nd best close of the year.

It’s a busy day for the economic calendar tomorrow. We have Pending Home Sales at 10:00am ET, Crude Oil Inventories at 10:30am ET, and the FOMC Statement at 2:00pm ET.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s