Dow Snaps 9-Session Winning Streak

Dow -79.24 at 18515.79, Nasdaq -16.03 at 5073.90, S&P-7.92 at 2165.10

  • Dow Jones +6.3% YTD
  • Russell 2000 +6.0% YTD
  • S&P 500 +5.9% YTD
  • Nasdaq Composite +1.3% YTD

Energy stocks fell 0.9% in the S&P 500. U.S. crude dropped 2.2% to $44.75 a barrel as a glut of gasoline began to weigh on prices. The move brought crude oil down 7.4% for the month.

The market began the day on a flat note as investors weighed a plethora of earnings reports and recently-released economic data. The ECB released its latest policy statement this morning, deciding to maintain its assets purchase program. The decision was largely expected after the Bank of England stated earlier in the month that it was too early to assess the economic impact of the United Kingdom’s exit from the European Union. However, ECB President Mario Draghi stated that the central bank is ready to act should the need arise.

I wont be doing much tomorrow, but I’m watching XNCR. Looks ready for a breakout.



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