Stock Market Update Tuesday, November 5th, 2019
Stocks finished the day mixed after a strong start this morning.
The major indices were higher at the open after a Financial Times report said that the U.S. is considering removing certain tariffs on Chinese goods.
Then stocks rallied again after October’s ISM Non-Manufacturing PMI data was released.
The index showed a surprise increase with a 54.7 reading vs. a 53.5 estimate (readings above 50.0 indicate industry expansion).
But after a quick rally, stocks pulled back and chopped around the rest of the day.
In the end, both the DOW & NASDAQ made new record highs. But the S&P ended the day with a small loss.
Here’s where the major indices ended the day:
- The S&P finished with a 0.1% loss. Down 4 points, the S&P ended at 3,075.
- The DOW ended higher by 0.1%. Adding 31 points, the DOW closed at 27,493.
- The NASDAQ was flat. With just a 1.5 point gain, the NASDAQ finished at 8,435.
Crude Oil (CL) finished higher for the 3rd day in a row. Up 1.2%, CL ended at $57.24 a barrel.
Boeing (BA) jumped 1.8% today after the CEO said that bonuses will not be offered this year. The decision comes after a rocky year of trading and disappointments following the 737 Max crash.
It was a tough day for recent IPOs.
Peloton (PTON) lost 7.6% in spite of a better than expected earnings report. It was the first quarterly earnings report as a public company.
And Uber (UBER) finished the day with a 9.9% loss after reporting strong sales but a $1 billion quarterly loss yesterday after the bell. There was also Shake Shack (SHAK) losing 20.6% on disappointing future guidance and lower than expected same-store sales.
Gold (GC) suffered its biggest loss in over a month today. Down 1.8%, Gold finished the day at $1484 an ounce.
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.