Sector Investing

[ReturntoSender]

Dow ekes out record close, Boeing and Walgreens gain
11-Nov-19 16:15 ET
Dow +10.25 at 27691.53, Nasdaq -11.04 at 8464.28, S&P -6.07 at 3087.01

https://www.briefing.com/stock-market-update

[BRIEFING.COM] The S&P 500 declined just 0.2% on Monday, while the Dow Jones Industrial Average (+0.04%) eked out a record close amid strength in Boeing (BA 366.96, +15.96, +4.6%) and Walgreens Boots Alliance (WBA 62.25, +3.01, +5.1%). The Nasdaq Composite lost 0.1%, and the Russell 2000 lost 0.3%.

Boeing said it expects 737 MAX deliveries to resume in December and commercial service to resume in January. Walgreens received a leveraged buyout offer from KKR & Co. (KKR 29.26, +0.11, +0.4%), according to Bloomberg.

The nice gain in Boeing was an influential driver not only in the Dow but also the S&P 500 industrials sector (+0.1%), which joined the real estate (+0.2%) and information technology (+0.1%) sectors in positive territory. The tech sector overcame a negative start, predominately due to Apple (AAPL 262.20, +2.06, +0.8%) extending its record run on no specific catalyst.

Eight of the other 11 S&P 500 sectors finished in negative territory, with utilities (-0.7%), energy (-0.6%), and health care (-0.4%) underperforming the broader market.

Despite those losses, today proved to be another resilient session considering the S&P 500 declined as much as 0.6% shortly after the open in a profit-taking trade. Some trade uncertainty and another bout of violence in the democratic protests in Hong Kong may have restrained risk sentiment.

Like past sessions, though, there still wasn't a sustained effort to sell a market trading at all-time highs. Instead, investors bought the dip to quickly pare the market's early losses.

Separately, T-Mobile US (TMUS 79.62, -1.32, -1.6%) was a notable laggard after The Wall Street Journal reported that its CEO John Legere is in talks to become the next CEO of WeWork. Qualcomm (QCOM 91.84, -2.19, -2.3%) underperformed after the stock was downgraded to Equal-Weight from Overweight at Morgan Stanley.

The U.S. Treasury market was closed for Veterans Day and investors did not receive any economic data. The U.S. Dollar Index declined 0.1% to 98.22. WTI crude declined 0.6% to $56.88/bbl.

On Tuesday, investors will receive the NFIB Small Business Optimism Index for October.

Nasdaq Composite +27.6% YTD
S&P 500 +23.1% YTD
Dow Jones Industrial Average +18.7% YTD
Russell 2000 +18.3% YTD

Market Snapshot
Dow 27691.53 +10.25 (0.04%)
Nasdaq 8464.28 -11.04 (-0.13%)
SP 500 3087.01 -6.07 (-0.20%)
10-yr Note 0/32 1.942
NYSE Adv 1267 Dec 1578 Vol 760.3 mln
Nasdaq Adv 1412 Dec 1662 Vol 1.7 bln

Industry Watch
Strong: Real Estate, Industrials, Information Technology
Weak: Energy, Utilities, Health Care

Moving the Market

-- S&P 500 closes slightly lower, while Dow ekes out record close

-- Boeing (BA) expects 737 MAX deliveries to resume in December, commercial service in January

-- Walgreens Boots Alliance (WBA) reportedly received a leveraged buyout offer

-- Bond market was closed for Veterans Day

WTI crude settles modestly lower
11-Nov-19 15:30 ET
Dow +11.56 at 27692.84, Nasdaq -13.75 at 8461.57, S&P -6.56 at 3086.52

[BRIEFING.COM] The S&P 500 is on pace to end the day lower as it holds a modest 0.2% loss. At its low, the benchmark index was down 0.6%.

One last look at the S&P 500 sectors shows eight trading lower with relative weakness found in the utilities (-0.6%), health care (-0.5%), and energy (-0.5%) sectors. Conversely, the real estate (+0.6%), industrials (+0.1%), and information technology (+0.1%) sectors trade higher.

WTI crude declined $0.33 (-0.6%) to $56.88/bbl.