Buy the dip has been a good strategy over the past 18 months and after a rough start for the month the S&P 500 did rally nearly 1% yesterday but was well into the red today until a tech led rally brought the widely followed index back to just a fractional loss.
At the close:
Dow -63 to 34751
S&P 500 -7 to 4474
NASDAQ +20 to 15182
Oil unchanged at 72.60
Gold -40 to 1754
In corporate news shares of China related stocks like Alibaba, Bidu, Wynn & Las Vegas Sands continued under pressure today on uncertainty about tighter regulations from the Chinese Government. Shares of delivery service Door Dash are up 60% in the last 6 months and moved higher today after Bank of America raised the shares to a buy. Beyond Meat was lower today on a Piper Sandler downgrade on the belief business is lagging expectations.
U.S. stocks rose on Friday as better-than-expected third-quarter earnings reports...
Stocks closed up today after a slew of earnings results...
Stocks closed up today as investors digested new earnings data...