Dow Hits Another High Despite Weak Trader Appetite
Stocks continued their recent strength into the Thanksgiving holiday
It was another up day for stocks, as the Dow, S&P 500, and Nasdaq all hit new highs yet again. While upside was somewhat limited in the pre-holiday trading, there was still plenty of data for traders to consider, including a solid update on third-quarter gross domestic product (GDP). Retailers also made big moves again, including outside the earnings space, with Under Armour (UAA) jumping on positive analyst attention.
Continue reading for more on today's market, including:.
The FAANG stock that could underperform. Bearish signal flashes in the healthcare sector.Plus, a sector for bulls; Under Armour's rally; and a quantitative look at Black Friday.
The Dow Jones Industrial Average (DJI - 28,164.00) enjoyed a 42.3-point, or 0.2%, win, with 19 of 30 blue chips ending with gains. Apple (AAPL) jumped 1.3% to pace the gainers, and Boeing (BA) had the worst day, dropping 1.5%.
The S&P 500 Index (SPX - 3,153.63) added 13.1 points, or 0.4%, and the Nasdaq Composite (IXIC - 8,705.18) rose 57.2 points, or 0.7%.
The Cboe Volatility Index (VIX - 11.75) also gained, adding 0.2 point, or 1.8%.
5 Items on Our Radar Today
Ford (F) and Tesla (TSLA) are, apparently, serious about having a tug of war between their pick-up trucks, and people are betting on the contest. Tesla is favored to win at 5-to-2 odds. (Reuters) A major winter storm is moving in just behind the Thanksgiving holiday. So far, it's dropped a foot of snow in some areas, while Minneapolis in particular got hit with nine inches. Meanwhile, some airports are already reporting delays. (AP)One sector bulls could trade next month. Embattled Under Armour attracts a bull note. ICYMI: Stocks that outperform after Black Friday.
Oil Drops on Inventory Update
Oil prices moved backwards today on a surprise increase in domestic crude inventories. January-dated crude futures finished down 30 cents, or 0.5%, at $58.11 per barrel.
Gold prices were under pressure during the rise in equities. February gold futures shed $6.60, or 0.4%, to settle at $1,455 an ounce.