Stock Market Update Wednesday, November 27th, 2019
Stocks finished higher for the 4th day in a row today, after better than expected economic data ahead of the holiday.
Q3 GDP grew at an annualized pace of 2.1%, faster than what was originally expected. And Durable Goods orders rose by 0.6% compared to the 0.5% decline that was expected.
With today’s gains, the S&P has made new record highs for 3 days straight. And the NASDAQ traded above 8,700 for the first time ever.
Here’s where the major indices ended the day:
- The S&P finished with a 0.4% gain. Up 13 points, the S&P ended at 3,154.
- The DOW ended higher by 0.2%. Adding 42 points, the DOW closed at 28,164.
- The NASDAQ was up 0.7%. With a 57 point gain, the NASDAQ finished at 8,705.
Crude Oil (CL) flirted with the $58 mark all day long, trading in a range that was approximately 50 cents above and below $58. By the end of the day, CL was trading with a loss of 0.5% at $58.11 a barrel.
Most of the FAANG stocks were up nicely ahead of the Thanksgiving holiday.
Facebook (FB) was up 1.5%, Apple (AAPL) was higher by 1.4%, Amazon (AMZN) ended with a 1.2% gain, Netflix (NFLX) rallied 1.1% and Google’s parent company Alphabet (GOOG) finished with a small loss.
Under Armour (UA) saw a nice jump after an analyst upgraded the stock. UA ended the day with a 6.2% gain.
Dropbox (BOX) was a winner as well, up 11.5% after reporting better than expected earnings. But computer companies Dell (DELL) and HP Inc (HPQ) were earnings losers, down 5.4% and 1.4% respectively.
U.S. markets will be closed tomorrow for Thanksgiving. And markets will close early at 1pm ET 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.