We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Markets ended lower on Friday following a three-day rally on confusion surrounding a possible resolution to U.S.-China trade spat in the near term. Also, Apple’s shares declined following a disappointing forecast, which took a toll on the broader tech sector as investors felt jittery. This saw all three major indexes ending in negative territory.
The Dow Jones Industrial Average (DJI) declined 0.4% to close at 25,270.83. The S&P 500 fell 0.6% to close at 2,723.06. The Nasdaq Composite Index closed at 7,356.99, declining 1%. A total of 8.9 billion shares were traded on Friday, higher than the last 20-session average of 8.8 billion shares. Decliners outnumbered advancers on the NYSE by a 1.29-to-1 ratio. On Nasdaq, a 1.07-to-1 ratio favored declining issues.
How did the Benchmark Perform?
The Dow gave up 109.91 points, after dropping 300 points at one point during the session. At its session’s high the index was up as much as 198.24 points. Shares of The Boeing Company (BA - Free Report) declined 1.5%. Boeing has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The S&P 500 shed 17.31 points, with shares of Apple, Inc. (AAPL - Free Report) dragging down the broader tech sectors. Technology and communication sectors were the biggest laggards. The Technology Select Sector SPDR (XLK) and the Communication Service Select Sector SPDR (XLC) declined 2% and 1%, respectively. Shares of Apple declined 6.6%, while Facebook, Inc. lost 0.9%. Ten of the 11 major S&P 500 sectors ended in negative territory.
The tech-heavy Nasdaq, lost 77.06 points, with tech stocks taking a hit. Shares of Netflix, Inc. (NFLX - Free Report) declined 2.6%, while Alphabet, Inc. (GOOGL - Free Report) lost 1.3%, respectively. However, the Nasdaq registered its first weekly gain since the end of September.
Global Trade Worries Weigh on Markets
Trade disputes have been taking a toll on markets ever since the United States and China engaged in tit-for-tat tariffs. On Friday, investors dealt with a range of contradictory reports on a possible resolution to U.S. China trade disputes. Earlier in the day, President Donald Trump’s top economic advisor Larry Kudrow said the United States and China were far from reaching a trade deal.
This dented investors’ confidence, leading to huge selloffs. However, the initial losses were somewhat pared after President Donald Trump said that progress was being made on U.S.-China trade talks.
Apple Takes a Toll on Broader Tech Stocks
On Friday, shares of Apple took a hit, sending its market value below $1 trillion at the close, a day after the company warned sales for the all-important holiday quarter may lag expectations. This disappointing forecast not only took a toll on Apple’s shares, dragging it down 6.6%, but also the broader tech sector. Chipmaker stocks were the biggest sufferers with shares of Intel Corporation (INTC - Free Report) and Texas Instruments Incorporated (TXN - Free Report) declining 2.3% and 2.6%, respectively.
Weak Investor Sentiment Overshadows Economic Data
On Friday, the Labor Department said that the U.S. economy added 250,000 jobs in October, surpassing analysts’ expectations. Also, wages increased 3.1% on an annualized basis in October, the first time since recession. However, investors have been worrying that rising wages coupled with increasing inflationary pressure might lead the Fed to raise interest rates at a faster pace. This factor overshadowed robust economic data.
Weekly Round Up
Markets opened lower on Monday, as investors continued to feel jittery owing to growing concerns of slowing global economic growth and rapidly rising interest rates. However, on the last day of a disastrous October, markets recouped on some of the losses as tech stocks rallied. The rally continued for three consecutive days as impressive third-quarter earnings results lifted investors’ confidence. For the week, the Nasdaq gained 2.7%, its first weekly gain since September end. The Dow and the S&P 500 also gained 2.4% each.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Stock Market News For Nov 5, 2018
Markets ended lower on Friday following a three-day rally on confusion surrounding a possible resolution to U.S.-China trade spat in the near term. Also, Apple’s shares declined following a disappointing forecast, which took a toll on the broader tech sector as investors felt jittery. This saw all three major indexes ending in negative territory.
The Dow Jones Industrial Average (DJI) declined 0.4% to close at 25,270.83. The S&P 500 fell 0.6% to close at 2,723.06. The Nasdaq Composite Index closed at 7,356.99, declining 1%. A total of 8.9 billion shares were traded on Friday, higher than the last 20-session average of 8.8 billion shares. Decliners outnumbered advancers on the NYSE by a 1.29-to-1 ratio. On Nasdaq, a 1.07-to-1 ratio favored declining issues.
How did the Benchmark Perform?
The Dow gave up 109.91 points, after dropping 300 points at one point during the session. At its session’s high the index was up as much as 198.24 points. Shares of The Boeing Company (BA - Free Report) declined 1.5%. Boeing has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The S&P 500 shed 17.31 points, with shares of Apple, Inc. (AAPL - Free Report) dragging down the broader tech sectors. Technology and communication sectors were the biggest laggards. The Technology Select Sector SPDR (XLK) and the Communication Service Select Sector SPDR (XLC) declined 2% and 1%, respectively. Shares of Apple declined 6.6%, while Facebook, Inc. lost 0.9%. Ten of the 11 major S&P 500 sectors ended in negative territory.
The tech-heavy Nasdaq, lost 77.06 points, with tech stocks taking a hit. Shares of Netflix, Inc. (NFLX - Free Report) declined 2.6%, while Alphabet, Inc. (GOOGL - Free Report) lost 1.3%, respectively. However, the Nasdaq registered its first weekly gain since the end of September.
Global Trade Worries Weigh on Markets
Trade disputes have been taking a toll on markets ever since the United States and China engaged in tit-for-tat tariffs. On Friday, investors dealt with a range of contradictory reports on a possible resolution to U.S. China trade disputes. Earlier in the day, President Donald Trump’s top economic advisor Larry Kudrow said the United States and China were far from reaching a trade deal.
This dented investors’ confidence, leading to huge selloffs. However, the initial losses were somewhat pared after President Donald Trump said that progress was being made on U.S.-China trade talks.
Apple Takes a Toll on Broader Tech Stocks
On Friday, shares of Apple took a hit, sending its market value below $1 trillion at the close, a day after the company warned sales for the all-important holiday quarter may lag expectations. This disappointing forecast not only took a toll on Apple’s shares, dragging it down 6.6%, but also the broader tech sector. Chipmaker stocks were the biggest sufferers with shares of Intel Corporation (INTC - Free Report) and Texas Instruments Incorporated (TXN - Free Report) declining 2.3% and 2.6%, respectively.
Weak Investor Sentiment Overshadows Economic Data
On Friday, the Labor Department said that the U.S. economy added 250,000 jobs in October, surpassing analysts’ expectations. Also, wages increased 3.1% on an annualized basis in October, the first time since recession. However, investors have been worrying that rising wages coupled with increasing inflationary pressure might lead the Fed to raise interest rates at a faster pace. This factor overshadowed robust economic data.
Weekly Round Up
Markets opened lower on Monday, as investors continued to feel jittery owing to growing concerns of slowing global economic growth and rapidly rising interest rates. However, on the last day of a disastrous October, markets recouped on some of the losses as tech stocks rallied. The rally continued for three consecutive days as impressive third-quarter earnings results lifted investors’ confidence. For the week, the Nasdaq gained 2.7%, its first weekly gain since September end. The Dow and the S&P 500 also gained 2.4% each.
Stocks That Made Headlines
Berkshire Q3 Earnings Up on Solid Insurance Operation
Berkshire Hathaway Inc. (BRK.B - Free Report) delivered third-quarter 2018 earnings. (Read More)
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>