Market Update for 18th Jul 2016 – Here’s how we start this week…

By Markus Heitkoetter

Stocks were off to a positive start Monday, with the major indices higher across the board.

There were some concerns going into the session over global markets, and how they would react to the attempted coup in Turkey. But with the coup attempt unsuccessful, investors seemed to shrug off the news.

For the most part, it was a quiet session. The S&P traded in just a 9 point range (compared to a current Average Daily Range of 13.63).

While things were slow for the S&P and DOW, the NASDAQ was another story. The NASDAQ was on the move, leading major indices with a 0.5% gain.
Today’s NASDAQ close was a best for 2016.Here’s where the major indices ended the day:

  • The S&P finished with a 0.2% gain. Up 5 points, the S&P ended at 2,167.
  • The DOW ended 0.1% higher. Adding 17 points, the DOW closed at 18,533.
  • The NASDAQ was up 0.5%. With a 26 point gain, the NASDAQ finished at 5056.

Crude Oil (CL) struggled today. Down 1.3%, CL finished at $46.05 a barrel.

Tomorrow’s economic calendar features Building Permits and Housing Starts at 8:30am ET. In addition to this week’s economic reports, traders will be keeping a close eye on earnings.

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