Stocks began the day down but turned positive after President Trump said he will meet with China’s Vice Premier on Friday. In economic news, U.S. weekly jobless claims were lower than expected, coming in at 210,000 vs. 219,000.
Here’s a look at how the major indices finished the day:
Dow Jones Industrial +151 at 26,496
S&P 500 +19 at 2,938
NASDAQ +47 at 7,950
The 10 Year Treasury up 7 basis points yielding 1.66%
Oil prices closed up $1.10 ending at $53.69 a barrel
Gold prices closed down $15 ending at $1,498 an ounce
In the days’ stock news:
- Delta Airlines shares decreased over 1% after the company reported lower than expected revenues for the latest quarter.
- Costco shares moved slightly higher today after the retailer reported comparable-store sales of 4.2%, exceeding consensus estimate of 3.8%.
- General Motors reported a 17.5% decline in 3rd quarter China vehicle sales. This was due to the ongoing trade war, a slower economy, and increased competition.
- Canopy Growth appointed Constellation Brands CFO, David Klein, as the chairman of its board. Constellation Brands owns a 38% stake in the cannabis company.