Stocks were quiet once again today as investors anxiously wait to see if the S&P 500 and/or the Nasdaq will hit new highs. The Dow 30 was lower by 74, the S&P 500 lost 4, and the Nasdaq 100 was higher by 3. Both the Nasdaq composite and the S&P 500 continue to be about a half of a percent from hitting new highs.
Volatility dropped again, showing that fear is at a low level for the year. Investors have been impressed with earnings, which are widely known for driving markets. Calming trade talks along with trade negotiations going smoothly with the EU leaves investors with little reason for worry for the moment.
Tesla (NASDAQ: TSLA) shares continued to retreat from highs set the other day when CEO Elon Musk tweeted that he would take the company private at $420 per share and that funding was secured. With no real news on that front, investors seemed to be losing faith that the CEO could deliver on those promises.
Dropbox (NYSE: DBX) shares were higher by 9% as the company is due to report earnings after the close. Investors have pushed the stock higher by nearly 30% in just the last 9 trading sessions on hopes of a strong earnings beat.
Viacom (NASDAQ: VIAB) shares moved higher by 6% today as the company reported earnings that beat expectations. Revenue was in line with expectations, encouraging investors buy shares in the stock, which seems to be coming out of a year long downtrend.