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Benchmarks closed at fresh all-time highs on Monday as investors mull over signals from U.S.-China trade deal.
The Dow Jones Industrial Average (DJI) gained 0.1% or 31.33 points to close at 28,036.22. The S&P 500 rose 0.1% to close at of 3,122.03. Meanwhile, the Nasdaq Composite Index closed at 8,549.94, rising 0.1%.
The fear-gauge CBOE Volatility Index (VIX) decreased 1.4% to close at 12.29. Decliners outnumbered advancers on the NYSE by a 1.45-to-1 ratio. On Nasdaq, a 1.64-to-1 ratio favored declining issues.
The S&P index recorded 32 new 52-week highs but no new lows, while the Nasdaq recorded 64 new highs and 69 new lows.
90-day Extension to Trade with Huawei
After the positive news of “constructive” trade talks in progress during the weekend, index futures traded higher on early Monday. President Donald Trump and his administration on Monday issued licenses citing a 90-day extension, allowing U.S. companies to continue doing business with the blacklisted Huawei Technologies Co.
The 16 months long trade war between the U.S and China has been a concern, but since the beginning of the October several positive developments on the trade front have lifted investor’s sentiments.
Economic Data
On Monday, the National Association of Home Builders reported that the index of builder confidence edged one point lower to 70 this month. However, November’s reading remained near the highest level for 2019.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Stock Market News for Nov 19, 2019
Benchmarks closed at fresh all-time highs on Monday as investors mull over signals from U.S.-China trade deal.
The Dow Jones Industrial Average (DJI) gained 0.1% or 31.33 points to close at 28,036.22. The S&P 500 rose 0.1% to close at of 3,122.03. Meanwhile, the Nasdaq Composite Index closed at 8,549.94, rising 0.1%.
The fear-gauge CBOE Volatility Index (VIX) decreased 1.4% to close at 12.29. Decliners outnumbered advancers on the NYSE by a 1.45-to-1 ratio. On Nasdaq, a 1.64-to-1 ratio favored declining issues.
How Did the Benchmarks Perform?
The benchmarks recorded new highs but gains were eked out due to the mixed signals on the U.S.-China trade deal. The Walt Disney Company (DIS - Free Report) was the best-performing Dow stock and rose 2.1%. Disney carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The S&P index recorded 32 new 52-week highs but no new lows, while the Nasdaq recorded 64 new highs and 69 new lows.
90-day Extension to Trade with Huawei
After the positive news of “constructive” trade talks in progress during the weekend, index futures traded higher on early Monday. President Donald Trump and his administration on Monday issued licenses citing a 90-day extension, allowing U.S. companies to continue doing business with the blacklisted Huawei Technologies Co.
The 16 months long trade war between the U.S and China has been a concern, but since the beginning of the October several positive developments on the trade front have lifted investor’s sentiments.
Economic Data
On Monday, the National Association of Home Builders reported that the index of builder confidence edged one point lower to 70 this month. However, November’s reading remained near the highest level for 2019.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>