Record Week For Stock Market

Hello traders everywhere. The S&P 500 and DOW both traded at record highs for the second straight day this week being propelled by the energy sector as crude oil prices continue to trade above $70 a barrel. Of the two indexes, it's bigger news that the DOW finally hit a new high, it's first since January of this year when it's compatriates have been consistently making new highs this year.

The Dow has risen in eight of the past nine trading sessions, with the most recent gains putting the index up 2.2% for the week, its best weekly stretch since July 13.

Record Week Stock Market

The S&P 500 is posting a +1% gain on the week the NASDAQ will barely post a weekly gain checking in with +.10%. For the second straight week, gold is relatively unchanged for the week while crude oil had a great week posting a +3.4% gain.

The U.S. dollar continues to be in a sidelines mode with a red weekly Trade Triangle on the board and looking to post its second weekly loss in a row standing at -.70%. Bitcoin finally gave us the red weekly Trade Triangle that we've been waiting for only to bounce higher and finish the week with a +2.9%. However, expect more volatility in the near-term.

Key Levels To Watch Next Week:

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DOW Shrugs Off Latest Round Of Tariffs

Hello traders everywhere. While the overall market is a bit mixed today the DOW continues to shine as it approaches its all-time high. As we stand in early afternoon trading the DOW is up +.75% on the day and only 175 points or so from hitting a new record high above 26,616.71. This move two-day move higher comes on the heels of a weak close last week and weak open on Monday as we waited for the latest round of tariffs against Chinese goods.

DOW continues to shine

Late Monday, President Trump announced that 10% tariffs on $200 billion in imports from China would go into effect next week, escalating the trade war between the world's two largest economies, but the key point was that there would be a slower escalation of the tariffs through the end of the year which will ultimately rise to 25%. China responded on Tuesday by unveiling 10% tariffs on about $60 billion of U.S. goods effective Sept. 24.

The beat goes on.

Key Levels To Watch This Week:

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Trump Tariffs Spook Markets

Hello traders everywhere. Overall the stock market was having a good week and was looking to close near record highs, but alas the potential for the implementation of tariffs totaling over $200 billion on Chinese goods has once again spooked the markets. News surfaced to today that President Trump has instructed his aides to go ahead with his China tariff plan. This move comes despite U.S. Treasury Secretary Steven Mnuchin's attempt to restart talks with Beijing to resolve the trade war that we are in.

The S&P 500, DOW and NASDAQ will all post weekly gains of around +1%, +.70%, and +1% respectively after bouncing back from weekly losses last week.


Even though the dollar is higher today, it's trading lower for the week losing -.44% on the week. Crude oil has backed off the weekly high of $71.26 to trade in the $68 range after experiencing a rash of hurricane buying mid-week as hurricane Florence was barreling down on the Carolina's but quickly sold off those highs. Gold is relatively unchanged for the week and is currently trading around the $1200 level.

Bitcoin is putting up a good fight and staying above the $6000 level and currently trading at $6475 posting a weekly gain of +4.85% gaining back a little of -13% loss last week.

Key Levels To Watch Next Week:

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Stock Market Rebounds After Weak Open

Hello traders everywhere. After a weak Tuesday open the stock market was bailed out by a surge in the tech and energy sectors. The tech sector has shrugged off growing concerns over trade and federal regulation led by the FAANG stocks which are all in positive territory led by Apple which is posting a +2% gain. The jump by Apple is related to analysts at UBS raised their price target to $250 from $215, citing the potential growth of the company's services business.

Trade worries continue to linger as President Trump's threat on Friday to slap tariffs on nearly all Chinese imports was met with a statement from China that said it would approach the World Trade Organization next week for permission to slap sanctions on the United States due to its non-compliance with a ruling in a dispute over U.S. dumping duties.

Stock Market Rebounds

The energy sector is getting a hurricane boost as hurricane Florence is bearing down on North and South Carolina. Florence is expected to make landfall on Thursday and will be the largest hurricane to make landfall in that region in over 60 years. With that news, traders jumped on crude oil and gasoline pushing oil up +2.5% and gasoline up +2.3%.

Key Levels To Watch This Week:

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Stocks End Week Lower

Hello traders everywhere. The weak finish by the stock market in August continued this week ending with all three indexes in negative territory. The S&P 500 is down almost 1% at -.97, the DOW is down -.33% and the NASDAQ suffered the worse loss of the three losing -2.1% as tech witnessed a significant sell-off, most notably in the social media segment.

Stocks End Week Lower

The U.S. Dollar has bucked its recent trend this week by gaining +.36% on the week making that its first positive week in a month. However, oil and gold followed the overall markets and lost -3.31% and -.53% respectively.

But the biggest loser of the week was Bitcoin, which lost -10.5% on the week. One reason for the sell-off was news in the middle of the week that Goldman Sachs delayed the launch of a Bitcoin trading desk for their customers.

Key Levels To Watch Next Week:

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