U.S. markets were little changed at the end of the trading day.
The bond market was closed on Tuesday to commemorate Veterans Day. Typically speaking, the bond market is a major driver of the equities market. When the bond market is closed, equities volume tends to be lower in a less volatile trading session.
Despite a relatively quiet day on the news-front, the CBOE Volatility Index rose 3 percent to trade near 13. The S&P 500 Index traded at all-time intraday high of 2,041.28 while the Dow closed the day near its all-time highs.
- The Dow gained 0.01 percent, closing at 17,614.90.
- The S&P 500 gained 0.07 percent, closing at 2,039.68.
- The Nasdaq gained 0.19 percent, closing at 4,660.56.
- Gold gained 0.44 percent, trading at $1,164.90 an ounce.
- Oil gained 0.47 percent, trading at $77.76 a barrel.
News Of Note
Japanese Prime Minister Shinzo Abe is likely to delay a planned sales tax hike that was originally called for October 2015.
The U.S. and Chinese governments reached an agreement to eliminate tariffs across more than 250 categories and sales of $1 trillion.
Equities News Of Note
Analysts at Citigroup maintained a Buy rating on Ford Motor F with a price target lowered to $17 from a previous $18. Shares gained 2.64 percent, closing at $14.37.
Related: Citigroup's Battle Of The Giants: General Motors Vs. Ford
Analysts at Bank of America maintained a Buy rating on Nike NKE with a price target raised to $110 from a previous $100. Shares hit new 52-week highs of $95.30 before turning slightly negative and closing the day at $94.88, down 0.08 percent.
Analysts at Goldman Sachs upgraded Time Warner TWX to Conviction Buy from Neutral. Shares gained 0.92 percent, closing at $78.04.
Analysts at Sterne Age maintained a Buy rating on Visa V with a price target raised to $275 from a previous $265. Shares lost 0.19 percent, closing at $249.73.
D.R. Horton DHI reported its fourth quarter results this morning. The company earned $0.45 per share, missing the consensus estimate of $0.48. Revenue of $2.40 billion beat the consensus estimate of $2.37 billion. Shares gained 2.22 percent, closing at $23.95.
Alibaba's BABA issued a press release saying that it generated RMB 48.9 billion (approximately $8 billion) in gross merchandise volume by 8:43PM Hangzhou time. By the end of the event, Alibaba's GMV sales soared to $9.3 billion. Shares lost 3.87 percent, closing at $114.54.
Speaking at an RBC conference, Netflix's NFLX CFO David Wells said that the U.S. addressable market of 60 million to 90 million subscribers is a target, not an expectation. Shares lost 1.22 percent, closing at $382.55.
Recommended: Bank Of America Recaps Earnings Season Thus Far
According to The Wall Street Journal, Bill Ackman's Pershing Square has taken a $2 billion stake in Zoetis ZTS. Shares spiked to new 52-week highs of $44.13 before closing the day at $43.72, up 8.86 percent.
According to Reuters, Apple AAPL has been sending sales teams to pitch its enterprise products and services to many CIOs. Shares gained 0.80 percent, closing at $109.70.
Quote Of The Day
"I even don't dare to watch our stock price, because this is what other people think who you are. I dare not watch it, I think let the market take care of themselves, we should take care of the business.” -Alibaba's Executive Chairman Jack Ma speaking to CNBC.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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