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Stocks opened lower on Tuesday and the Dow was down and in jeopardy of having its longest daily losing streak in almost 40 years. But it didn't take long for the dip buyers to jump in and follow through with Monday's positive reversal and send the indices sharply higher for the day. The Dow, S&P 500, and small caps all gained about 3/4 of a percent, while the I-fund lagged a bit with a rebound in the dollar.
Stocks gapped lower on Monday morning and within minutes the Dow was down 184-points. Buyers quickly stepped up and we saw the indices come well off their lows with some closing in positive territory. The Dow ended the day down 46-points, the S&P slipped 0.10%, while the Nasdaq, small caps, Transportation Index, and the EAFE, all closed with minor gains.
It was a mixed and volatile day for stocks on Friday as investors awaiting the outcome of the healthcare bill. As the day went on and we saw no results, there was some selling the closer we got to the close. But just before 3 PM ET it was announced that the bill was being taken off the floor. Initially stocks sank, but we saw some buying late to end with a mixed bag. The Dow lost 60-points on the day while the S&P was just south of flat, and the Nasdaq and small
The highly anticipated results of the healthcare vote never manifested as the republicans pulled the bill because they did not have the votes to pass it. The anticipation shook the market up early in the week but in the end stocks didn't react much to the non-vote on Friday afternoon. If anything it was positive.
Investors will now have their attention focused on the tax reform negotiations, which is really what they're interested in. That and the debt ceiling fiasco could set the
It was a classic reversal day yesterday as stocks opened flat, rallied up to some healthy gains, and reversed down to close slightly negative. The Dow was up about 100-points but ended the day down 5-points. The culprit? The House failed to vote on the healthcare bill, the event everyone was waiting for.