S&P, Dow edge decrease; snap eight-week profitable streak

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The main inventory market benchmarks trimmed early losses to complete the day little modified however nonetheless posted losses for the week.

The S&P and Dow snapped eight-week profitable streaks with respective weekly losses of Zero.1% and Zero.2%, whereas the Nasdaq additionally slipped Zero.2% for the week.

Today’s session was gradual, as earnings season has largely concluded and lots of banks have been closed for Veterans Day, resulting in barely below-average buying and selling quantity.

The client staples group (+1%) topped right this moment’s leaderboard, highlighted by J.C. Penney’s 15% spike after reporting higher than anticipated earnings and revenues for the quarter.

Underperforming teams included well being care (-Zero.9%) and power (-Zero.eight%), which fell alongside U.S. crude oil’s Zero.7% drop to $56.75/bbl.

U.S. Treasury costs ended broadly decrease and erased beneficial properties from earlier within the week; the 10-year yield jumped 7 bps to a two-week excessive 2.40% whereas the two-year yield added three bps to 1.66%.

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