Stocks mixed in volatile session, oil craters
Stocks ended mixed following a volatile session on Tuesday. The S&P 500 and Nasdaq were little changed, while the Dow Jones Industrial Average fell 100 points or 0.4 percent, as companies including United Health and Exxon Mobil weighed on the average, while 3M and American Express saw modest gains. Investors honed in on some positive comments on U.S.-China talks, according to top White House Economic Advisor Larry Kudlow.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44296.51 | +426.16 | +0.97% |
| SP500 | S&P 500 | 5969.34 | +20.63 | +0.35% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19003.651134 | +31.23 | +0.16% |
| UNH | UNITEDHEALTH GROUP INC. | 590.78 | -6.49 | -1.09% |
| XOM | EXXON MOBIL CORP. | 121.78 | -0.14 | -0.12% |
| AXP | AMERICAN EXPRESS CO. | 301.35 | +8.44 | +2.88% |
| MMM | 3M CO. | 128.42 | +1.10 | +0.86% |
In commodities, oil continued its losing streak now the worst on record. A report from OPEC showed combined output from the group and Russia offset losses from Iranian sanctions. WTI crude, which measures the U.S. market, closed around $55 per barrel falling 7 percent to a one year low.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CLF25 | Crude Oil | 71.19 | +1.09 | +1.55% |
A handful of consumer-related stocks released results Tuesday, including home improvement retailer and Dow component Home Depot; the company lifted its earnings forecast after third-quarter profit and revenue topped expectations, while U.S. same-store sales rose 5.4 percent. Still the stock fell after the company indicated that the housing market may be starting to slow. Lowe's will report results next week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HD | THE HOME DEPOT INC. | 420.00 | +9.62 | +2.35% |
| LOW | LOWE'S COMPANIES INC. | 264.68 | -0.54 | -0.20% |
Stocks attempted to recover following Monday’s drubbing, which saw the Dow lose more 602 points or 2.3 percent in a volatile and light trading session due to the Veterans Day holiday. The Nasdaq Composite fell over 206 points or nearly 3 percent, while the S&P 500 lost 54.79 points or nearly 2 percent. Ten of the sectors in the S&P 500 fell led by technology and consumer discretionary, utilities, which are viewed as defensive, lost the least.
Dow members Apple and Goldman Sachs paced the declines. Apple supplier Lumentum, which provides iPhone parts, cut its second-quarter forecast, which pressured the stock in early trading. Apple fell below the $200 per share level. Goldman is on pace for the largest percent drop since June of 2016 over concerns about the firm's involvement in a Malaysian investment fund gone bad and Facebook shares slid after an outage hit the social media giant for about 30 minutes.