| | | Dow ekes out record close, Boeing and Walgreens gain
11-Nov-19 16:15 ET
Dow +10.25 at 27691.53, Nasdaq -11.04 at 8464.28, S&P -6.07 at 3087.01
briefing.com
[BRIEFING.COM] The S&P 500 declined just 0.2% on Monday, while the Dow Jones Industrial Average (+0.04%) eked out a record close amid strength in Boeing (BA 366.96, +15.96, +4.6%) and Walgreens Boots Alliance (WBA 62.25, +3.01, +5.1%). The Nasdaq Composite lost 0.1%, and the Russell 2000 lost 0.3%.
Boeing said it expects 737 MAX deliveries to resume in December and commercial service to resume in January. Walgreens received a leveraged buyout offer from KKR & Co. (KKR 29.26, +0.11, +0.4%), according to Bloomberg.
The nice gain in Boeing was an influential driver not only in the Dow but also the S&P 500 industrials sector (+0.1%), which joined the real estate (+0.2%) and information technology (+0.1%) sectors in positive territory. The tech sector overcame a negative start, predominately due to Apple (AAPL 262.20, +2.06, +0.8%) extending its record run on no specific catalyst.
Eight of the other 11 S&P 500 sectors finished in negative territory, with utilities (-0.7%), energy (-0.6%), and health care (-0.4%) underperforming the broader market.
Despite those losses, today proved to be another resilient session considering the S&P 500 declined as much as 0.6% shortly after the open in a profit-taking trade. Some trade uncertainty and another bout of violence in the democratic protests in Hong Kong may have restrained risk sentiment.
Like past sessions, though, there still wasn't a sustained effort to sell a market trading at all-time highs. Instead, investors bought the dip to quickly pare the market's early losses.
Separately, T-Mobile US (TMUS 79.62, -1.32, -1.6%) was a notable laggard after The Wall Street Journal reported that its CEO John Legere is in talks to become the next CEO of WeWork. Qualcomm (QCOM 91.84, -2.19, -2.3%) underperformed after the stock was downgraded to Equal-Weight from Overweight at Morgan Stanley.
The U.S. Treasury market was closed for Veterans Day and investors did not receive any economic data. The U.S. Dollar Index declined 0.1% to 98.22. WTI crude declined 0.6% to $56.88/bbl.
On Tuesday, investors will receive the NFIB Small Business Optimism Index for October.
- Nasdaq Composite +27.6% YTD
- S&P 500 +23.1% YTD
- Dow Jones Industrial Average +18.7% YTD
- Russell 2000 +18.3% YTD
Market Snapshot
| Dow | 27691.53 | +10.25 | (0.04%) | | Nasdaq | 8464.28 | -11.04 | (-0.13%) | | SP 500 | 3087.01 | -6.07 | (-0.20%) | | 10-yr Note | 0/32 | 1.942 |
|
| | NYSE | Adv 1267 | Dec 1578 | Vol 760.3 mln | | Nasdaq | Adv 1412 | Dec 1662 | Vol 1.7 bln |
Industry Watch
| Strong: Real Estate, Industrials, Information Technology |
| | Weak: Energy, Utilities, Health Care |
Moving the Market
-- S&P 500 closes slightly lower, while Dow ekes out record close
-- Boeing (BA) expects 737 MAX deliveries to resume in December, commercial service in January
-- Walgreens Boots Alliance (WBA) reportedly received a leveraged buyout offer
-- Bond market was closed for Veterans Day
|
WTI crude settles modestly lower
11-Nov-19 15:30 ET
Dow +11.56 at 27692.84, Nasdaq -13.75 at 8461.57, S&P -6.56 at 3086.52
[BRIEFING.COM] The S&P 500 is on pace to end the day lower as it holds a modest 0.2% loss. At its low, the benchmark index was down 0.6%.
One last look at the S&P 500 sectors shows eight trading lower with relative weakness found in the utilities (-0.6%), health care (-0.5%), and energy (-0.5%) sectors. Conversely, the real estate (+0.6%), industrials (+0.1%), and information technology (+0.1%) sectors trade higher.
WTI crude declined $0.33 (-0.6%) to $56.88/bbl. |
|
