November 13, 2017

US equities closed slightly higher for the day, but a decline in General Electric shares, coupled with worries about tax reform, capped gains in the major indices.   Market sentiment has been on edge as of late, with investors wondering whether the government will get tax reform done at all this year and if so, whether the corporate tax cut could be delayed until 2019.  Here’s a look at how we finished the day:

DOW  +17 at 23439
SP500   +2 at 2584
NASDAQ    +6 at 6757

10 Year Treasury closed flat to yield 2.4%
Oil prices closed -.08 at 56.90 a barrel
Gold prices closed +4.20 at 1278.40 an ounce

In the days’ stock news:

  • General Electric announced a restructuring plan and plans to slash their dividend by 50% after issuing weaker-than-expected guidance for 2018.  GE shares dropped by more than 7% on the day, closing at 19.02.
  • Separately, Dubai airline Emirates unveiled a provisional order for 40 of Boeing’s 787 Dreamliners.  The deal is worth $15.1 billion.  BA closed +1.57 at 262.42.