Stock Market News For Nov 8, 2017
Zacks Investment Research | Nov 07, 2017 09:48PM ET
Benchmarks closed mixed on Tuesday with the Dow finishing at new highs and the S&P 500 and the Nasdaq ending in the red. Weak profit forecasts from both Priceline and TripAdvisor pulled the consumer discretionary sector downward, which in turn weighed on the broader markets. Also, decline in bond yields weighed on financials and concerns over the timing and implementation of Trump’s tax cut plans resulted in a small-cap stock selloff.
The Dow Jones Industrial Average (DJIA) increased 0.04%, to close at 23,557.23. However, the S&P 500 Index (INX) fell 0.49 points to close at 2,590.64. The tech-laden Nasdaq Composite Index (IXIC) closed at 6,767.78, losing 0.3%. A total of 7.0 billion shares were traded on Tuesday, higher than the last 20-session average of 6.4 billion shares. Decliners outnumbered advancers on the NYSE by a 1.39-to-1 ratio. On Nasdaq, a 2.50-to-1 ratio favored declining issues. The CBOE VIX increased 4.7% to close at 9.85.
What Boosted the Dow?
The Walt Disney Company (NYSE:DIS) was reportedly in talks recently with Twenty-First Century Fox, Inc. (NASDAQ:FOXA) to acquire a large part of the latter’s entertainment business. Although, there is no certainty whether the deal will go through, shares of Walt Disney increased 1% following this development. Gains in Walt Disney boosted the blue-chip index to close on a new high on Monday. Walt Disney holds a Zacks Rank #4 (Sell). You can see Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.