DOW suffers triple-digit loss after disappointing retail earnings

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Stock Market Update Tuesday, November 19th, 2019

Things looked good at the open today. The major indices opened higher and were trading at new record highs.

But after a strong start, stocks retreated.

There was a steady drop throughout the morning. Then after hitting session lows around 11:00am ET, stocks chopped around in both positive and negative territory until the close

During a cabinet meeting, President Trump threatened to raise tariffs on China again. Trump said, ” If we don’t make a deal with China, I’ll just raise the tariffs even higher.” Surprisingly, the markets didn’t move much to the threat.

The S&P, DOW and NASDAQ all made record highs today. But it was only the NASDAQ that managed to end the day with a new record close.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.1% loss. Down 2 points, the S&P ended at 3,120.
  • The DOW ended lower by 0.4%. Dropping 102 points, the DOW closed at 27,934.
  • The NASDAQ was up 0.2%. With a 21 point gain, the NASDAQ finished at 8,571.

Crude Oil (CL) dropped for the 2nd day in a row, ending the day with its worst close since October. With a 3.1% loss, CL finished the day at $55.37 a barrel.

Home Depot (HD) was a big reason for the DOW’s decline. The stock lost 5.4% after reporting disappointing earnings.

Kohls (KSS) was an earnings loser as well, dropping 19.5% after an earnings miss.

But there were some earnings winners too. TJX Companies (TJX) reported better than expected numbers and finished with a 1.8% gain.

Boeing (BA) was another stock on the move today. The move came after the National Transportation Safety Board said that there was a safety issue with engine covers for the 737 plane.

The stock was up 1.5% at the open but lost 0.7% after the news. Boeing said that it plans to revamp the part for thousands of 737s based on the recommendation.

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.


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