Day Traders Diary
After a decline at the start, the Dow Jones Industrial Average rebounded finishing up 10 points at new all-time highs. The S&P 500 and Nasdaq finished modestly lower. Boeing led the charge in the Dow rising 4%, its best day in three months on optimism the 737 Max will return to service as soon as January. Apple also helped the Dow as it rose nearly 1% to a new high. The rest of the tech sector was not so lucky.
Cisco Systems and Qualcomm shares dropped 1.5% and 2.3%, respectively, following analyst downgrades.
In M&A news, Walgreens Boots Alliance jumped 5% on news and speculation private equity firm, KKR is preparing to buy the firm for over $56 billion.
Separately, T-Mobile US dropped 1.6% on rumors the popular CEO John Legere is in talks to become the next CEO of privately held, WeWork.
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.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.