News from the top
- DIY retailers hit a stumbling block - Amazon
- Expanded Russia investigation into Donald Trump's business transactions
Dow and S&P 500 in mild retreat from Wednesday's record high while Nasdaq continues to climb hitting another record at close after a day of mixed news.
The Dow slipped -0.13% lower to 21,611 and S&P 500 remains largely unchanged -0.02% to 2,473. Nasdaq gathers another record closing up +0.08% to 6,390.
- Dow 21,611 -0.13%
- S&P 500 2,473 -0.02%
- Nasdaq 6,390 +0.08%
- Russell 2000 1,442 +0.04%
- NYSE Composite 11,944 +0.03%
- Gold 1,250 +0.14%
- Oil WTI $49.28 -0.87%
- 10-Year Treasury Yield 2.25% +0.01
The market also spasmed briefly on news of an expanded investigation into Trump's business transaction as reported by Bloomberg on worries that this could disrupt further Trump's plans for growth.
DIY retailers hit stumbling block - Amazon
Sears zoomed up +10.60% after it announced it would sell its Kenmore brand appliances on Amazon's platform but that enthusiasm didn't extend to rivals with a selloff culminating in Home Depot, closing down -4.09% and Lowes, -5.56%.
Both Home Depot and Lowes include large appliances as part of their retail offering. Sears is also integrating Amazon's Alexa with the full line of its appliances. This means customers get the benefit of not 'leaving the sofa while they ask Alexa to, for example, adjust their Kenmore air conditioner to 70 degrees (fahrenheit) according to Sears.
The deal provides Sears with its broadest distribution of Kenmore home appliance brand outside of Sears.
Across the board gainers
Winners were across various sectors in today's trading. Oil and gas exploration company, Kinder Morgan went up +4.52% while health technology companies, Mallinckrodt and Perrigo shot up +4.10% and +3.94 respectively.
Oil and gas industry was up 0.38% over a month and basic materials went up 3.32%
Industry laggards include Alliance Data Systems falling -9.45%, PPG Industries -6.06% and C.H. Robinson Worldwide -5.36%.
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