December 6, 2017

Yesterday’s 100 point loss for the Dow was also a 3rd consecutive day lower for the NASDAQ and we haven’t seen either of those things since August.  Today the market once again edged lower at the open in what turned out to be a relatively quiet day.

At the close:

  • DOW -40 to 24,141
  • S&P -.28 to 2629
  • NASDAQ +14 to 6776
  • OIL -1.60 to 56
  • GOLD +1 to 1263

In corporate news shares of struggling regional retail pharmacy Freds, already down 72% for the year, were 19% lower, hitting a new all-time low, after the company suspended their dividend. Shares of healthcare provider DaVita were 13% higher on news Dow component United Healthcare will buy DaVita Medical Group for $4.9B.  Shares of Home Depot edged lower despite news the company will increase its 4th quarter share buyback program from $2B to $15B.  Shares of restauranteur Dave & Busters, down 6% for the year, were little changed after the company reported quarterly results that beat analysts estimates.