Stock Market Update Tuesday, November 26th, 2019
Its been quite a couple of days considering things are usually pretty slow the week of Thanksgiving.
But stocks ended the day with new records AGAIN today.
The major indices were higher at the open. Then after making new records during lunch, stocks traded sideways.
But a strong push into the close helped stocks end the day near session highs.
Here’s where the major indices ended the day:
- The S&P finished with a 0.2% gain. Up 7 points, the S&P ended at 3,141.
- The DOW ended higher by 0.2%. Adding 55 points, the DOW closed at 28,122.
- The NASDAQ was up 0.2%. With a 15 point gain, the NASDAQ finished at 8,648.
Crude Oil (CL) found support around the $58 mark and finished higher. With a 0.6% gain, CL ended at $58.37 a barrel.
Yesterday’s move higher was tied to trade, and news that China and the U.S. discussed core issues and “reached a consensus of how to resolve related problems” for a Phase One deal.
But today it was all about retail stocks.
Earnings from a few retailers trickled in. And today, retail was on fire.
Best Buy (BBY) jumped 9.0% on better than expected numbers and Dick’s Sporting Goods (DKS) was up 18.0% on an earnings move.
Amazon (AMZN) finished the day with a 1.3% gain just days before the biggest shopping day of the year.
Ford (F) and Tesla (TSLA) seem to be in a truck war.
A video of Tesla’s Cybertruck shows the Tesla dragging a Ford F-150 easily in a tug-of-war battle.
But some claim that the test wasn’t fair. And Sundeep Madra, Vice President of Ford X urged Musk to send over a Cybertruck for a true “apples to apples” tug-of-war battle.
Musk’s response? Bring it on.
As a reminder, U.S. markets will be closed on Thursday for Thanksgiving. U.S. exchanges will also close early on Friday.
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.