S&P Snaps Losing Streak Ahead of G-20

There were conflicting reports of U.S.-China trade progress

by Patrick Martin

Published on Jun 27, 2019 at 4:30 PM

The Dow finished with a modest loss today, as a rough day for Boeing (BA) overshadowed a post-earnings surge from Walgreens Boots Alliance (WBA). Elsewhere, all eyes turned to trade ahead of the G-20 summit tomorrow, especially after a Wall Street Journal report indicated Chinese President Xi Jinping is ready to present a set of terms to President Donald Trump. Conflicting trade comments from top White House economic advisor Larry Kudlow threw stocks for a loop, but the S&P 500 and Nasdaq both finished higher, with the former snapping a four-day losing streak. 

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

  • 25 stocks to sell in July.
  • This e-tail stock signal has never been wrong.
  • 2 pharma stocks that popped off today.
  • Plus, 2 retail stocks to watch; a big Walmart options trade; and Abercrombie doubling down on CBD. 

The Dow Jones Industrial Average (DJI - 26,526.58) fell 10.2 points in today's trading. Walgreens led the 18 blue-chip winners with a 4.1% gain, while Boeing paced the 11 losers with a 3% drop. Intel (INTC) broke even. 

The S&P 500 Index (SPX - 2,924.92) added 11.1 points, or 0.4%, while the Nasdaq Composite (IXIC - 7,967.76) tacked on 57.8 points, or 0.7%.

The Cboe Volatility Index (VIX - 15.82) fell 0.4 point, or 2.4%.

closing indexes Jun 27

NYSE and Nasdaq June 27

5 Items on our Radar Today

  1. A day after roaring to a 18-month high, bitcoin pulled back today. At last check, the controversial cryptocurrency was down 12% to trade around $11,383, after scraping the ceiling of $14,000 yesterday. Bitcoin's record high is just under $20,000, hit back in December 2017. (Reuters)
  2. Compared to last year, U.S. auto sales for the month of June likely fell 1.5%, with higher prices dulling demand, according to LMC Automotive and J.D. Power estimates. There's hope that an interest rate cut in July could help offset the rising vehicle prices. (Reuters)
  3. These 2 retail stocks could see better days ahead.
  4. Breaking down this winning Walmart options trade.
  5. Abercrombie & Fitch is expanding its CBD partnership.

Corporate Earnings June 27

Unusual Options Activity June 27

Data courtesy of Trade-Alert

Oil Adds a Nickel, Gold Extends Pullback

Oil eked out a gain today as attention shifts to the G-20 summit tomorrow. By the close, August-dated crude added a nickel, or 0.1%, to end at $59.43 per barrel.

Gold pulled back again today for its second straight loss, as a risk-on appetite developed amid easing trade tensions. August-delivered gold gave back $3.40, or 0.3%, to settle at $1,412 an ounce.

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