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| Dow, Nasdaq, and S&P by closing time (4:47pm ET) |
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| Dow and Nasdaq throughout trading hours (4:47pm ET) |
- All three indexes were very unstable throughout the day
- Dow and S&P closed lower than yesterday, and Nasdaq closed slightly higher than yesterday.
- The market was affected by oil prices, which was lower than yesterday.
- Oil price continued to rebound over $40 per barrel
- $41.35 per barrel (4:35pm ET)
International/U.S. Economy
- In just 5 weeks, the stock market has experienced an unbelievable rebound. S&P 500 has rose 13% since its low at February 11. There were multiple reasons for this, including the rebound of oil prices and U.S. recession fears fading away, and Federal reserve tapping breaks on plans for raising interests.
- Although the Chinese economy is slowing down, they are still a huge market. It turns out that Chinese tourism spent $215 billion abroad last year.
- According to a research done by a business lobby group, Britain's exit from E.U. (Brexit) could cost 100 Billion pounds ($144 billion) and 950,000 jobs by 2020.
Individual Analysis
- Valeant Pharmaceuticals (VRX) has surged 10% as the company decides to abandon their previous CEO and appoint billionaire activist Bill Ackman to the board.
- Office Depot (ODP) stocks rose 9.72% today as rumors about Amazon (AMZN) is interested in buying their business.
- Staples (SPLS) was marked as a Barbarian at the gate (Strong stocks crossing above resistance with today's range greater than 200%) due to various reasons including their average dollar volume, and their stocks have traded above its daily resistance level. Staples stocks surged 7.63% today.
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