Category: Stock Market News

The Dow Jones Industrial Average closed modestly higher to end above 19,000 for the first time ever on Tuesday. Meanwhile, the S&P 500 also closed at a fresh record, above 2,200 for the first time. Tuesday’s gains were broad-based, with 10 of the 11 main sectors finishing with gains. The S&P 500 gained 4.75 points, or 0.2%, to 2,202.93, scaling a major psychological level. The Dow Jones Industrial Average added 67.18 points, or 0.4%, to 19,023.87. The Nasdaq Composite ended the session up 17.49 points, or 0.3%, at 5,386.35, also a record. The Russell 2000 index rose 9.05 points, or 0.7%, to 1,331.31, rising for a 13th consecutive day, according to preliminary FactSet data. For the second consecutive session, all the main indexes closed at records.

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AppDynamics, a software company, is postponing its initial public offering until next year due to uncertainty after the U.S. presidential election, the Wall Street Journal reported Tuesday, citing sources. The company filed confidentially and had planned to go public in December, the Journal reported, but now will not go out until January at the earliest. The offering could value the company between $2 billion and $3 billion.

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Oil futures fell toward the session’s lows on Tuesday after Reuters reported that the Organization of the Petroleum Exporting Countries will debate a plan to cut member-output, excluding Libya and Nigeria, by 4% to 4.5% at its meeting on Nov. 30. The news report, citing OPEC sources, also said the representatives of Iran, Iraq and Indonesia expressed reservations over their level of participation in the group’s deal. January West Texas Intermediate crude fell 80 cents, or 1.7%, to $47.44 a barrel on the New York Mercantile Exchange.

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Apple Inc. will offer discounts on some products and free two-day delivery on Black Friday. In an ad scant with details posted to its website late Monday, the company announced a “one-day shopping event” for Friday, Nov. 25. Apple does not say what products will be included in the daily deals, but the photo on the ad specifically features Apple Watch, while links to other “holiday gift collections” range from devices to music and photography. It even offers a slew of games and toys, such as small plastic robots. It’s unclear whether the iPhone 7 or iPhone 7S will be included, though the company has offered holiday deals on devices on past Black Friday events. Shares of Apple traded flat around $111.72 on Tuesday morning. They’re risen 3% in the past three months, virtually in line with the Dow Jones Industrial Average , but have underperformed on the year, declining by more than 6% while the index has increased by 6%. Last month, Apple reported its first ever annual decline in iPhone sales.

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WASHINGTON (MarketWatch) — The chief accountant of the Securities and Exchange Commission, James Schnurr, said he plans to retire from the agency. Schnurr had suffered a serious bicycle accident in April and is continuing rehabilitation. The former vice chairman of Deloitte became the SEC’s chief accountant in Oct. 2014. “Jim has been a strong leader–encouraging improvement in audit quality and working to facilitate other important goals, including consistent implementation and application of new accounting standards,” said SEC Chairwoman Mary Jo White. Wesley Bricker, who as interim chief accountant since July, will become the chief accountant.

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The Dow industrials on Tuesday traded above 19,000 for the first time ever–a milestone level for the blue-chip benchmark. The ascent for the Dow Jones Industrial Average which carved out a fresh record close of 18,956.69 less than 24 hours ago, comes as three other major stock-market benchmarks also hit historic highs, including the S&P 500 index , which was trading above 2,200, the Nasdaq Composite Index and the small-cap index Russell 2000 . A multisession rally for equities comes on the heels of President-elect Donald Trump’s surprising victory against Democrat Hillary Clinton. Trump’s proposals to deregulate certain markets, including banking, and rev up investing in the countries worn-out bridges, tunnels and roads has delivered a jolt to the broader equity market. MarketWatch’s William Watts touches on some of the stats related to the Dow’s historic move in this piece.

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The Dow Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday. The S&P 500 opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average added 45 points, or 0.2%, to 19,002. The Nasdaq Composite began the session up 16 points, or 0.3%, at 5,385.

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Russell 2000 futures rose 0.4% ahead of the open, suggesting the Russell 2000 Index of small-cap stocks is on track for a 13th-straight gain. That would be the longest such streak since the 15-day stretch ending Feb. 6, 1996. The 12-day win streak through Monday has been the longest since the 12-session streak ending June 5, 2003. The index has soared 14% during its current streak, compared with the 12% surge during the 2003 streak. The index had gained 6.1% during its 15-day win streak in 1996.

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Amazon.com, Inc. plans to open a third fulfillment center in Nevada, creating more than 1,000 new positions, the company said Tuesday. The new center will be in North Las Vegas and adds to facilities in Reno and North Las Vegas. The center will be 800,000 square feet and the employees will work to ship larger items such as big-screen televisions and kayaks. Shares of Amazon were up 1% in premarket trade Tuesday. Shares have gained 3% in the past three months, compared to the S&P 500’s gain of 1%.

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Barnes & Noble Inc. saw shares pop more than 6% in premarket trade after the company reported a fiscal second quarter loss that was smaller than expected. The book seller reported a net loss of $20.4 million, or 29 cents per share, compared to a net loss of $27.2 million, or 36 cents per share during the same period a year ago. The FactSet consensus was for a loss of 39 cents. Sales for the quarter hit $858.5 million, down 4% from the $894.7 million in sales last year. FactSet expected sales to come in at $845.0 million. Barnes & Noble said sales were sluggish due to the election cycle, with same-store sales dropping 3.2%, less than the 5% decline expected on FactSet. The company expects same-store sales to be down in the mid single digits for the full year 2017. Shares of Barnes & Noble are up more than 31.5% in the year to date, outperforming the S&P 500 Index , which is up more than 7%.

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