Q2 STOCKS TO BUY

Stocks Suffer Weekly Losses Amid Trade War Speculation

Sharp losses for McDonald's and Caterpillar stocks kept the Dow in the red today

Managing Editor
Mar 2, 2018 at 4:27 PM
facebook X logo linkedin


It was hectic on Wall Street today, as President Donald Trump stoked fears of a trade war a day after announcing tariffs on steel and aluminum imports. However, the S&P 500 and Nasdaq reversed early losses thanks to a rally in healthcare stocks. Meanwhile, the Dow managed to pare its losses after being down more than 390 points at its session low, but still extended its losing streak, due to a sharp drop from Caterpillar (CAT) stock and McDonald's (MCD) worst day since 2008. All three major indexes closed out the week in the red.

Continue reading for more on today's market, including:

  • Behind the longest losing streak on Wall Street.
  • The 7-figure gamble on this casino stock.
  • Lululemon stock is flashing a rare "buy" signal.
  • Plus, the toy stock that could rally; an ETF that could move next week; and JinkoSolar steps up to the earnings plate.

The Dow Jones Industrial Average (DJI - 24,538.06) finished down 70.9 points, or 0.3%, its fourth straight day of losses. It also shed 3% for the week. Today saw 18 Dow components close in positive territory, led by Intel's (INTC) 2.4% gain. MCD stock was the worst of the 12 decliners, dropping 4.8%.

The S&P 500 Index (SPX - 2,691.25) added 13.6 points, or 0.5%, but gave back 2% for the week, and the Nasdaq Composite (IXIC - 7,257.87) gained 77.3 points, or 1.1%, but shed 1.1% for the week.

The Cboe Volatility Index (VIX - 19.59) finished 2.9 points, or 12.8%, lower. It gained 18.8% for the week. 

 

closing indexes summary march 2

nyse and nasdaq stats march 2

5 Items on Our Radar Today

  1. AAA released a forecast for spring gas prices, with a gallon of unleaded regular gas expected to reach a national average of $2.70 by May or June. This represents a 17% increase from last year, and would mark the highest cost since spring of 2015. (CNBC)
  2. In a dose of good news, the University of Michigan's consumer sentiment index reached its second-highest point in 14 years last month, despite the stock market correction. However, the final reading of 99.7 was lower than the initial reading of 99.9, and below expectations for 100. (MarketWatch)
  3. Buy this toy stock in March, if past is prologue.
  4. This German ETF could be on the move next week.
  5. Options traders are expecting a bigger-than-usual earnings reaction for JinkoSolar (JKS).

corporate earnings march 2

unusual options volume march 2

Data courtesy of Trade-Alert

Oil and Gold Climb, But Unable to Secure Weekly Wins

April-dated crude futures rose 26 cents to end the week at at $61.25 per barrel. The 3.6% drop this week snaps a three-week winning streak, as oil was undermined both by the possible tariffs on steel and aluminium, as well as rising crude inventories. 

Gold futures for April delivery rose $18.20, or 1.4%, to close at $1,323.40 an ounce, as the risk of a trade war created a frenzied demand for the safe-haven asset. For the week, gold shed 0.5%, its second consecutive loss.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter