The Day Trading Starter Package
The Day Trading Starter Package

Market Update: Dow surges 580 points thanks to Boeing and record home sales

Email sent: Jun 29, 2020 6:45pm

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Market Update for Monday - June 29th, 2020

Clupzsjbfbr, first things first - here's where the major markets ended today:

MARKETS
arrow up S&P 500 3,053 +44 +1.5%
arrow up Dow Jones 25,596 +580 +2.3%
arrow up Nasdaq 9,874 +117 +1.2%
arrow up Crude Oil 39.73 +1.24 +3.2%
arrow up Gold 1781.4 +1.1 +0.1%
*As of market close

And Here Are Today's Highlights:

  • Today, just minutes after the opening bell the S&P and NASDAQ were in negative territory. And it looked like we were going to have a repeat of Friday’s slide.
  • But then a HUGE housing report at 10am ET jolted the markets, and stocks rallied.
  • The forecast for May’s Pending Home Sales was a modest 18.9%. But the increase was double what was expected! The better than expected housing numbers left traders optimistic about the economy, and stocks rallied throughout the day.
  • There was a final push higher in the last 10 minutes of trading, and the major indices finished the session at highs of the day.
  • Boeing (BA) helped lift the DOW higher today with a whopping 14.4% gain. Traders loved the idea that the new 737 MAX could be successfully re-certified again.
  • Chesapeake (CHK) filed for bankruptcy on Saturday. The bad news for the fracking giant left the stock with a 7.3% loss.
  • Facebook (FB) bounced back after a rough Friday. The company has taken some heat over the company’s approach to posts by President Donald Trump and other controversial content. As a result, major advertisers like Coca Cola, Starbucks, Verizon, and many others have backed out. The stock ended the day higher by 2.1% after being down as much as 4.2%.

.>> Click here to read the full story...

Put Credit Spreads Explained

After my recent Options 101 training, I've had a lot of requests for additional information on different options strategies.

So in my latest session of "Coffee With Markus - LIVE" I discussed the Put Debit Spread or sometimes called a "Bull Put Spread."

Check out the full episode below:

Coffee with Markus - Live

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What's Next?

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  3. New Video: Here's How I Trade Stocks and Options
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