Stock Market Update Wednesday, November 6th, 2019
Stocks chopped around for the most of the day. But there was some action late morning when stocks slide on trade news.
Stocks dipped after a Reuters report said that the U.S. and China probably won’t meet to sign a trade deal until December.
The White House had hoped for a Phase One agreement towards the end of November.
After a quiet afternoon, there was a small rally that helped the S&P finish in positive territory. But the DOW was flat and the NASDAQ finished the session with a loss.
Here’s where the major indices ended the day:
- The S&P finished with a 0.1% gain. Up 2 points, the S&P ended at 3,077.
- The DOW ended flat. the DOW closed at 27,493.
- The NASDAQ closed with a 0.3% loss. Lower by 24 points, the NASDAQ finished at 8,411.
Crude Oil (CL) was up early but finished the day with its first loss in 4 trading sessions. Down 1.6%, CL ended at $56.34 a barrel.
HP Inc. (HPQ) jumped 6.4% after news that Xerox (XRX) is looking to buy the computer company. Xerox ended the day with a 3.6% gain.
And CVX Health (CVS) was on the move, rallying 5.4% on better than expected earnings. They also announced that they will close 22 stores next year.
Qualcomm Inc. (QCOM) is looking at a 5% after-hours gain after the company reported better than expected earnings. A licensing deal with Apple (AAPL) was a big reason for the earnings beat.
We have a pretty quiet economic calendar tomorrow. Looking at earnings, Disney (DIS) and GoPro (GPRO) are two of the more popular stocks reporting, both reports will be released after the bell.
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.