Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average closed at a record high Tuesday after hitting another record intraday high, a day after the three major U.S. benchmark indexes posted record closing highs.
- Uber Technologies (UBER) declined even after the ride-hailing giant posted a quarterly loss narrower than expected and revenue higher than forecasts. Uber is Real Money’s Stock of the Day.
- Adobe (ADBE) jumped after the software company issued an earnings forecast for fiscal 2020 that exceeded analysts’ expectations.
Wall Street Overview
The Dow Jones Industrial Average and the Nasdaq finished at record highs Tuesday, as investors reacted to trade developments between the U.S. and China.
The Dow, which also hit an intraday high, finished up 30.52 points, or 0.11%, to 27,492.63, while the S&P 500 slipped 0.12% to 3,074.62, and the Nasdaq rose 0.02% to 8,434.68.
Walgreens Boots Alliance ( WBA) led the Dow’s advance, up 2.6% to $61.21, on a report that said the drugstore and healthcare chain was looking into the prospect of going private through a leveraged buyout.
Boeing (BA) was also pushing the Dow higher, rising 2% to $358.21, after the planemaker’s new chairman gave embattled CEO Dennis Muilenburg a vote of confidence. McDonald’s (MCD) also traded higher.
Former McDonald’s CEO Steve Easterbrook, who left the fast-food chain on Sunday, also resigned from the board of retail giant Walmart ( WMT) . Easterbrook left McDonald’s over revelations of an inappropriate relationship with a colleague.
The three major U.S. stock indexes closed at record highs on Monday as investors shifted into buying mode following a stronger-than-expected U.S. jobs report and signs of progress in U.S.-China trade talks.
Stocks were moving higher Tuesday following reports that said the United States was considering whether to remove existing tariffs on $112 billion of Chinese goods as a concession to seal the “phase one” trade agreement.
The Financial Times reported the Trump administration was considering whether to roll back levies on such items as clothing, appliances and flat-screen monitors that were imposed at a 15% rate on Sept. 1.
The Census Bureau said that the U.S. trade deficit with China decreased slightly to $28 billion in September. Exports decreased $1 billion to $9 billion and imports decreased $1.9 billion to $37 billion.
Uber Technologies (UBER) declined 10% to $28.01 even after the ride-hailing giant posted a quarterly loss narrower than expected and revenue higher than forecasts. Uber is Real Money’s Stock of the Day.
Adobe (ADBE) jumped 4.3% to $289.29 after the software company issued an earnings forecast for fiscal 2020 that exceeded analysts’ expectations.Peloton Interactive (PTON) fell 5.4% to $23.27 after the fitness equipment and software provider beat analysts’ sales forecasts, but posted a wider-than-expected net loss.
Allergan ( AGN) dipped slightly to $178.51 after the Botox maker posted stronger-than-expected third-quarter earnings and boosted its full-year revenue guidance.
Economic activity in the non-manufacturing sector in the U.S. grew in October for the 117th consecutive month. The Institute of Supply Management’s NMI report registered 54.7 last month, up front 52.6, and exceeded economists’ estimates of 53.5.