skip to page content

Stocks End Tough Quarter Higher On The Day

Jeremy Lutz - MarketClub

Loading the player...

Hello traders everywhere. The stock market is looking to close out a tumultuous first quarter of 2018 with positive daily gains in a holiday-shortened trading week albeit on light trading volume heading into the holiday weekend. The Easter holiday may be a much-needed break for beat-up traders to lick their wounds and start fresh come Monday.

For the first time in in the previous nine quarters, the S&P 500 and DOW are posting quarterly losses breaking an impressive winning streak. While the NASDAQ is posting a positive quarterly gain of 1.5% marking seven straight winning quarters, which is surprising given the recent rout in the tech sector. With the likes of Facebook (FB), Amazon (AMZN), Netflix (NFLX), Alibaba (BABA) and many other tech stocks taking huge losses recently.

The U.S. Dollar is closing out the first quarter of 2018 with its fifth straight quarterly loss, a loss of 2.3%. Data on Thursday showed U.S. consumer spending rose marginally for a second consecutive month in February as households boosted savings, the latest indication that the economy lost momentum in the first quarter.

But the economy's fundamentals remained strong, with other data on Thursday showing the number of Americans filing for unemployment benefits dropping to more than a 45-year low last week.

Oil is headed for a 5% gain in March, erasing February's 4% loss and in fact, is posting 7% gain on the quarter marking three straight increases much like gold. Some OPEC producers and allies are considering prolonging efforts to drain a global supply glut up to the middle of next year, as explained by the Iraqi Oil Minister, Jabbar al-Luaibi.

Gold is posting it's third straight quarterly gain, that hasn't happened since 2011. The metal is still up 1.5% this quarter, following a 1.8% gain in the final three months of last year. The rise comes even as the Federal Reserve has been pulling the trigger consistently on U.S. interest rates.

Bitcoin continues to come under selling pressure and traded as low as 7386.92 in Thursday's trading; it's lowest levels since early February. It's also its first quarterly loss in over a year. Furthermore, regulatory pressure is mounting in the cryptocurrency space, while major social media platforms are distancing themselves from the industry. Reddit Inc., a community hub popular in the crypto community, no longer accepts payments made in Bitcoin, while Twitter (TWTR) confirmed Monday that it's banning advertisements for initial coin offerings, joining Facebook and Alphabet (GOOG).

Key Levels To Watch Next Week:

S&P 500 (CME:SP500): 2,801.90
Dow (INDEX:DJI): 23,360.29
NASDAQ (NASDAQ:COMP): 6,630.67
Gold (NYMEX:GC.J18.E): 1,356.80
Crude Oil (NYMEX:CL.K18.E): 66.41
U.S. Dollar (NYBOT:DX.M18.E): 89.98
Bitcoin (CME:BRTI): 6,194.46

Back to videos

Get Started With Your 30-Day MarketClub Trial Right Now

Get Started

© Copyright MarketClub™ All rights reserved | User Agreement | Do Not Sell My Personal Information

MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.

Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.

Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.

U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.

×

It’s not goodbye, it’s hello Magnifi!

You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.

Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.

Take Me To Magnifi