The markets were slightly lower today as the 2016 trading year comes to an end. Investors took some risk off the table this week ahead of the end of year and markets saw their most weakness in over a month. The Dow 30 lost 49, the S&P 500 lost 9, and the Nasdaq was once again the weakest losing 48. Next week the markets will be closed on Monday in observance of the New years holiday. On Tuesday expect the markets to open with lots of volume and great volatility in the morning. Traders will also have some manufacturing numbers to weigh just shortly after the open.
NVIDIA (NASDAQ: NVDA) continues its volatility going into the years close as shares lost 4.21% in a wild day of trade. This puts it almost 10% off its highs set just 3 days ago. Don't feel too bad for it though, its still one of the best performing stocks of the year with a 250% gain for 2016.
Newmont Mining Company (NYSE: NEM) lost 3.37% today as the Gold mining (NYSE: GDX) sector saw some profit taking today. The sector has had a nice run up over the week and most gold stocks were lower on the day. While Newmont's 14% rally off the lows comes to an end today, many analysts are still very bullish on the Gold and Silver mining stocks for 2017.
Amazon (NASDAQ: AMZN) lost 2.00% today as it closed on its lows. The close today marks the lows for the week as well as a technical pattern that has the short term traders anxious to see more downside. Amazon broke down through its 3 week range today causing a slew of sellers into the close.