Stocks Manage to Close Higher Ahead of Tax Bill Release


After buying and selling in a slender vary on either side of breakeven, the Dow Jones Industrial Average (DJIA) , S&P 500 Index ( SPX ) , and Nasdaq Composite ( IXIC ) all managed to shut larger, marking the Dow’s seventh straight win. Traders in the end shrugged off disappointing earnings from Snap ( SNAP ) and prolonged weak spot in financial institution shares , attributable to doubt surrounding the Republican tax plan following yesterday’s native elections. The Senate GOP is predicted to launch its tax invoice earlier than the tip of the week.

Continue studying for extra on right this moment’s market, together with:

  • This inventory’s “buy” sign hasn’t been fallacious in years.
  • Behind Match inventory’s new report excessive .
  • The red-hot housing inventory that would cool off, if historical past repeats.
  • Plus, the online game inventory to observe this month; the inventory market’s record-shattering 12 months; and warning indicators for this protection inventory.

The Dow Jones Industrial Average (DJIA– 23,563.36) ended with a acquire of 6.1 factors, or zero.03%, for a report closing excessive. Merck ( MRK ) led the 13 Dow gainers with a 1.eight% advance, whereas JPMorgan Chase ( JPM ) paced the 17 losers with a 1.1% drop.

The  S&P 500 Index (SPX – 2,594.38) closed up three.7 factors, or zero.1%, whereas the  Nasdaq Composite (IXIC – 6,789.12) ended with a acquire of 21.three factors, or zero.three%. Both indexes completed at report closing highs.

The  CBOE Volatility Index (VIX – 9.78) misplaced zero.1 level, or 1.1%.

Closing Indexes Summary Nov 8
NYSE and Nasdaq Nov 8

5 Items on Our Radar Today

  1. In order for AT&T to purchase Time Warner for $84.5 billion, the Justice Department is reportedly requiring the sale of Time Warner’s CNN, which President Trump claims is “fake news.” AT&T is reportedly ready to take the Trump administration to court docket over the negotiations. ( MarketWatch
  2. Apple is designing a brand new augmented actuality headset that can succeed the iPhone. The new headset, which might be available on the market by 2020, will use its personal chip and working system to show three-dimensional movies and pictures. ( Bloomberg )
  3. Buy calls on this online game inventory , if previous is prologue.
  4. How 2017 is unprecedented for the inventory market , and why 2018 might be even higher.
  5. The outperforming protection inventory that might be prepared for a retreat.

Corporate Earnings Chart Nov 8

Unusual Options Activity Nov 8
Data courtesy of  Trade-Alert


Crude costs settled decrease once more right this moment, after weekly information confirmed a shock improve in U.S. crude stockpiles and home manufacturing on the highest since a minimum of 1983. December-dated oil futures ended down 39 cents, or zero.7%, at $56.81 per barrel.

Meanwhile, gold closed larger right this moment, because the U.S. greenback retreated on doable delays in tax reforms. December-dated gold ended up $7.90, or zero.6%, at $1,283.70 an oz..

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.

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