Investors continue to stay cautious of the policies by president Trump and the markets have show this. Today the Dow 30 was off by 19, the S&P 500 lost 4, and the Nasdaq 100 was lower by 3. Gold (GLD ) was the stand out market today as it gained over 1%, moving to new, two month highs.
As we head into Tuesday there is very little scheduled news which means that any news out of Washington could have an exaggerated impact on the markets. Stock specific news, or earnings news will likely be the only catalyst for individual names for now.
Cabot oil & Gas (COG ) shot up 10.71% today as the company got approval for a "pipeline in the Marcellus shale region that will increase natural gas takeaway capacity from the region." The news prompted J.P. Morgan to upgrade the stock as well which helped the stock further. The move today erases almost two months of declining prices and trading volume was well above average.
Alcoa (AA ) enjoyed a nice 2.41% gain today as Bank of America (BAC ) upgraded the stock today, saying that the company can deliver another 25% in returns to shareholders. The move sent shares back towards the highs set back in January. The stock has been in almost a vertical move higher since the first of the year, up over 30%.
Tyson Foods (TSN ) shot up over 7% prior to the open this morning but from there spent the rest of the day selling off, closing down 3.43%. The company reported stronger than expected earnings and sales, and even raised its outlook going forward. All in all the earnings report showed nice growth across the board but investors chose to use the pop to take profits. The stock is still up over 2% on the year, but for today shows some real weakness.