Crazy Monday: Here's what you need to know

Did You Know?

The last Fed rate hike was on June 29th, 2006.

Going back to 1983, the S&P has dropped the first day of a rate increase 50% of the time.(SOURCE:

Market Recap

Market Recap for Monday, November 9th, 2015

Stocks down - rockwell tradingStocks opened lower and continued to drop throughout most of the trading session. At day's end stocks were down 1.0%.

Why the move lower?

There were no major reports or other news that could explain why stocks plummeted today. Maybe it was just profit taking.

Or maybe the reality of a rate hike on the horizon finally sank in with traders.

Regardless of the reason, the S&P finished the day with a 1.0% loss. Down 21 points, the S&P closed at 2078.58. It was the biggest daily drop for the S&P since September.

The DOW also closed 1.0% lower. With a 180 point loss, the DOW finished the day at 17730.48. Today's drop put the DOW back into negative territory for the year (down 0.5%).

The NASDAQ finished with a 1.0% loss as well. Down 52 points, the NASDAQ ended the day at 5095.30.

Priceline (PCLN) made headlines today after a 9.5% decline. PCLN actually beat earnings expectations. But 4th quarter earnings became a big concern for traders after the company announced concerns over the impact of a strong US dollar.

We won't see any major reports until later in the week. But traders will look for any surprises in tomorrow's Import Prices release at 8:30am ET.



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This Week's Economic Calendar

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