Day Traders Diary
Stocks fell slightly on Wednesday following weak retail sales data and limited corporate earnings and no new news on the trade deal. The Dow Jones Industrial Average dipped 22 points to close at 27,001. The S&P 500 slid 0.2% to 2,989 while the Nasdaq Composite dipped 0.3% to 8,124.
Retail sales unexpectedly dropped 0.3% in September, marking their first decline in seven months. Spending cutbacks on motor vehicles and online purchases, among other factors, weighed down retail sales.
Earnings were limited today. Bank of America rose 1.5%, United Airlines rose 2.1%, and J.B. Hunt Transport Services rose 3.6% following earnings. Eight of the 11 S&P 500 sectors closed near their flat lines.
In other potential deals, General Motors rose 1.1% as they and the UAW reached a tentative agreement that could end the month-long strike. McKesson, Cardinal Health and AmerisourceBergen all rose on talks between the three to settle opioid litigation for $18 billion, according to The Wall Street Journal.
U.S. Treasuries finished the session on a higher note, leaving yields slightly lower. The 2-yr yield and the 10-yr yield both declined two basis points each to 1.59% and 1.75%, respectively. The U.S. Dollar Index declined 0.3% to 98.02.
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