Top 3 Reasons were Flat While Gold Set Another Record
Markets closed flat on Wall Street: DJI -0.05% SP500 -0.02% Nasdaq +0.07% Gold +1.37% Oil -0.45%.
Today’s markets were flat because:
1) The US Services sector continues to expand. Although the ISM Non-Manufacturing Index came in below Wall Street expectation, 16 out of 17 sectors expanded. Check Out: Chart of the Day: US Services Sector Breathes, But Still Expanding.
2) The Nasdaq 100 (NASDAQ:QQQ) is rebalancing. It was bad news for Nasdaq OMX Group’s (NASDAQ:NDAQ) former love Apple (NASDAQ:AAPL). Apple currently comprises 20.49% of the index, but will drop to 12.33%. However, other tech heavy-weights are cheering the move. Microsoft(NASDAQ:MSFT) is increases its weighting to 8.3% from 3.41%, Intel (NASDAQ:INTC) increases to 4.2% from 1.75%, Oracle (NASDAQ:ORCL) increases to 6.68% from 3.38%, and Google (NASDAQ:GOOG) increases to 5.8%. That’s some nice wind on the back of new CEO Larry Page.
3) Bonus: Chipotle (NYSE:CMG) sets a new 52-week high. We recommended Chipotle to our Wall St. Cheat Sheet Investment Newsletter subscribers when it was trading at $140. Today it hit $280. That’s a sample of the low risk, high reward picks we’ve been delivering consistently for over 2-years. Get your free copy today!
Now that you’re in the know, enjoy the NCAA Women’s Basketball Finals!