Fed Leaves Rates Unchanged; Apple Earnings Send Nasdaq Higher

Oil closed lower after a surprise increase in domestic supplies

Managing Editor
Aug 1, 2018 at 4:24 PM
facebook X logo linkedin


The Dow and S&P ended the day in the red, as China-U.S. trade tensions resurfaced. On the flip side, the Nasdaq pushed higher, as tech powerhouse Apple (AAPL) reached a fresh record high after an impressive earnings beat. Outside of earnings, the Fed emerged from its two-day meeting, opting to leave interest rates unchanged, as expected. The Fed also said the U.S. economy has seen "strong" growth -- echoed by this morning's upbeat jobs data -- and the central bank is widely expected to raise interest rates in September.

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

The Dow Jones Industrial Average (DJI - 25,333.82) shed 81.4 points, or 0.3%, for today. Ten Dow stocks closed the day higher, led by Apple, which added 5.9%. Caterpillar (CAT) paced the 20 decliners with a 3.7% drop.

The S&P 500 Index (SPX - 2,813.36) fell 2.9 points, or 0.1%, while the Nasdaq Composite (IXIC - 7,707.29) rose 35.5 points, or 0.5%.

The Cboe Volatility Index (VIX - 13.15) picked up 0.3 point, or 2.5%, for its first August session.

us market closing stats aug 1

nyse and nasdaq stats aug 1

5 Items on our Radar Today

  1. Banking concern Wells Fargo (WFC) will pay a penalty fee of $2.09 billion in light of its residential loan scandal. The company most recently paid a $1 billion settlement back in April concerning suspected abuse in auto and mortgage loan sales. (CNBC)
  2. Amazon (AMZN) is part of a newly formed group dubbed the Package Coalition, which will lobby U.S. policy makers on keeping United States Postal Service (USPS) prices "reliable and affordable." The coalition comes on the heels of President Donald Trump's recent Amazon threats. (Reuters)
  3.  2 car stocks to avoid this month, if past is prologue.
  4.  One analyst said to buy the dip in controversial Papa John's (PZZA) stock.
  5.  Video game stock set on a third straight earnings win

corporate earnings aug 1

unusual options volume aug 1

Data courtesy of Trade-Alert

Crude Ends Session Lower on Surprise Stockpiles Jump

An unexpected surge in U.S. crude inventories last week pushed oil lower on the back of renewed trade tensions. September-dated crude fell $1.10, or 1.6%, to close the session at $67.66 a barrel. 

Closing just ahead of the Fed's policy announcement, gold futures ended the first session of August lower. December-dated gold finished down $6, or 0.5%, at $1,227.60 per ounce. After the Fed statement, gold futures edged higher in electronic trading.


 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI