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Home / Business / Stock Market News: November 15, 2019

Stock Market News: November 15, 2019



The S&P 500, Dow and Nasdaq hit record highs every day after a senior Trump administration official said a trade deal with China was approaching.

Here were the most important movements in the markets, starting at 12:26. ET:

  • S&P 500 ( ^ GSPC ) : + 0.56%, or 17.4 points

  • Dow ( ^ DJI ) : + 0.53%, or 148.07 points

  • Nasdaq ( ^ IXIC ) : + 0.61%, or 51.59 points

  • 10-year government rate ([19659004] ^ TNX ): +1.4 bps to 1.829%

  • Gold ( GC = F ) : -0.44% to $ 1,466.90 per ounce

<p class = "canvas atomic canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "White Economic Advisor House Larry Kudlow told reporters after an incident late Thursday in Washington that a trade deal with China was imminent, but "not done yet," & nbsp; according to a Bloomberg report on his comments . But Kudlow added that the talks "came down to the short strokes," and that the two sides have been in communication every day. "Data-reactid =" 23 "> White House economic adviser Larry Kudlow told reporters after an incident late Thursday in Washington that a trade deal with China was near but "not done yet," according to a Bloomberg report on his comments, but Kudlow added that the talks "came down to the short strokes" and that the two The pages have been in communication every day.

Conflicting reports of progress in a trade deal have sent tremors through markets this week, though stocks have pushed far through these jitters to recent record highs. and China had been snagging about debates over the size of China's annual US commodity purchases, and whether the United States would reset its penalties for Chinese imports.

Elsewhere, unrest in Hong Kong continued, as demonstrated rants tapping the region in increasingly violent demonstrations have led to downward revisions to economic growth. Hong Kong now expects to see the gross domestic product contract at 1.3% in 2019 compared to last year, the government said Friday. In the three months ended September, GDP fell by 3.2% quarterly.

Traders working on the floor of the New York Stock Exchange (NYSE) in New York, USA, November 6, 2019. REUTERS / Brendan McDermid

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The protests spurred a rare public response by Chinese President Xi Jinping, who supported Hong Kong's police force and condemned the protocratic protesters, Beijing will "support Hong Kong's judiciary to severely punish the violent criminals in accordance with the law," he said in the remarks on Thursday, according to China's state news agency Xi nhua. "data-reactid =" 37 "> The protests spurred on a rare of sincere response from Chinese President Xi Jinping, who supported Hong Kong's police force and condemned the pro-democracy protesters. Beijing will "support the Hong Kong judicial bodies in severely punishing the violent criminals in accordance with the law," he said in remarks Thursday, according to China's state news agency Xinhua.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The storm surge led members of & nbsp; US Senate Thursday to tee up an expedited process & nbsp; to & nbsp; pass legislation & nbsp; that would support pro-democracy protesters, with a bill that could potentially pass as soon as the next The law would require the Department of Foreign Affairs to decide at least once a year that the region – a major global financial hub – retained enough autonomy from China to justify its special trade status with the US A & nbsp; -related Bill & nbsp; passed House of Representatives last month. "data-reactid =" 38 "> The wave of violence prompted members of the U.S. Senate to launch an accelerated process Thursday to pass legislation that would support protocols against democracy, with a bill potentially could to be adopted as soon as next week. The legislation requires the Foreign Office to decide at least once a year that the region – a major global financial hub – retained enough autonomy from China to justify its special trade status with the United States. A related bill passed the House of Representatives last month.

<h2 class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " EARNINGS: Nvidia posts strong 3Q results but poor guidance, JC Penney raises prospects "data-reactid =" 39 "> EARNINGS: Nvidia posts strong 3Q results, but weak guidance, JC Penney raises outlook

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Nvidia ( NVDA ) delivered better than expected third quarter profit after market close on Thursday with year-on-year sales falling less steeply than expected demand for the company's flagship game in F improved. Adjusted third quarter profit was $ 1.78 per share of $ 3.01 billion in sales, topping $ 1.55 a share on $ 2.91 billion in revenue. "Data-reactid =" 40 "> Nvidia ( NVDA ) delivered better-than-expected third quarter results after the market closed on Thursday with a decline in sales the year before and came out less steeply than expected as demand for the company's flagship game improved. Revenue was $ 1.78 per share on $ 3.01 billion in revenue, topping $ 1.55 per share on revenue of $ 2.91 billion.

For the current quarter, Nvidia sees revenue of $ 2.95 billion, plus or minus 2%. Even at the high end, this fell below expectations of revenue of $ 3.07 billion. Still, the company said it expects "strong sequential growth" in the data center chip industry, although the graphic game chips and components tend to see seasonal flaws in fiscal policy. in the fourth quarter.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " JC Penney ( JCP ) had a narrower-than-expected adjusted loss and lower inventory in the fiscal third quarter, giving shares up 11% even if sales dropped, the company reported results before the market opened on Friday. "Data -reactid = "42"> JC Penney ( JCP ) posted a narrower-than-expected adjusted loss and lower inventory for the fiscal third quarter and sold shares by 11%, even though sales fell again. The company reported results before the market opened on Friday.

Close monitoring of comparable sales in the same store fell 9.3% compared to last year, or worse than 8.3% decline expected. Adjusted losses were only 30 cents per share, and were reduced compared to last year and compared with the expected loss of 56 percent per share. Inventory fell 9% compared to last year, which indicates that the company is going through its backlog of products.

<p class = "canvas-atom canvas text Mb (1.0 cm) Mb (0) – sm Mt (0.8 cm) – sm" type = "text" content = "JC Penney said it expects adjusted EBITDA to increase $ 475 million this year, having previously predicted that this would come in between $ 440 million and $ 475 million. & nbsp; CEO Jill Soltau said in a statement that the company's turnaround plan had begun generating results, "both in our number and how we operate as a business." "data-reactid =" 44 "> JC Penney said it expects adjusted EBITDA to be $ 475 million this year, after that we had previously predicted that this would come in between $ 440 million to $ 475 million. CEO Jill Soltau said in a statement that the company's turnaround plan had begun to generate results, "both in our number and how we operate as a business."

<p class = "canvas -atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " So far, companies that account for about 94% of the S&P 500's market value reported third-quarter results, with revenue slipping 4.4%, with 69% of companies exceeding key performance, according to an analysis from Credit Suisse stock strategist Jonathan Golub, however, is below the average for the past three years, with revenues hitting 5.4% and 71% of companies exceeding profits, Golub added. "Data-reactid =" 49 "> So far companies like about 94% of the S&P 500's market value have reported third quarter results. Earnings have slipped 4.4%, with 69% of companies exceeding top-line estimates, according to an analysis by Credit Suisse stock strategist Jonathan Golub. However, this is below average over the past three years, with revenues hitting 5.4% and 71% of the companies exceeded the profits, Golub added.

ECONOMY: Retail sales recover in October

Retail sales rose more than expected in October, rebounding from a decline in September.

<p class = "canvas atom canvas text Mb (1.0 cm) Mb (0) – sm Mt (0.8 cm) – sm" type = "text" content = "Retail surplus sales increased by 0.3% month-over-month, says the & nbsp; Commerce Department on Friday which was above the expected 0.2% gain, according to Bloomberg compiled consensus data, and September's unannounced 0.3% decline The increase was led by gas sales, which rose 1.1%, and non-retailers – or e-commerce platforms – which saw a 0.9% increase in sales for the month. "Data-reactid =" 52 "> Headline Retail Sales increased 0.3% month over month, the Department of Commerce said Friday.This was above the expected gain of 0.2%, according to Bloomberg aggregate consensus data, and September's unannounced drop of 0.3%. The increase was led by gas sales, which rose 1.1%, and non-retailers – or e-commerce platforms – which increased sales by 0.9% for the month.

Clothing stores saw a sharp fall of 1% in retail sales in October. Furniture and furniture stores, as well as electronics and appliances stores, saw sales decline for the month.

Excluding more volatile car and gas sales, however, retail sales only increased by 0.1% in October, short of expected gains of 0.3%. September's change in retail sales was downgraded to a 0.1% decline, from a flat reading previously.

Exclusive car, gas, building materials and carpet services increased retail sales by 0.3% in October, following a downward decline of 0.1% in September. This so-called core target of retailing is most closely aligned with the consumer spending portion of gross domestic product.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – -sm Mt (0.8 em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. & Nbsp; Follow her on Twitter: @emily_mcck "data-reactid =" 57 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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