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Stock Market News: November 6, 2019



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Stocks went down Wednesday after & nbsp; Reuters report that a meeting between President Donald Trump and China's Jinping could be canceled by December. "data-reactid =" 15 "> Stocks dropped Wednesday after a Reuters report that a meeting between President Donald Trump and the CNC in China may be rejected by December.

<p class = "canvas-atom canvas-text Mb (1

.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Previously, the White House had said that Trump and Cu will continue to sign the first phase trade agreement until the end of November, even after the Chile Summit, prepared to stage the meeting, was & nbsp; canceled at the end of October. "data -reactid = "16"> Earlier, the White House said that Trump and C would continue signing a first-phase trade agreement until the end of November, even after the Chile summit, prepared to stage the meeting, was from changed at the end of October.

Here are the main market movements as of 11:51 am ET:

  • S&P 500 (^ GSPC): -0.2% or 6.3 points

  • Dow (^ DJI): -0.22% or 59.33 points [19659005] Nasdaq (^ IXIC): -0.6%, or 50.52 points

  • 10- year Cashier's Yield (^ TNX): -2.3 bps to 1.842%

  • Gold (GC = F): + 0.42% to $ 1.490,00 per ounce

Earlier in the session, stocks were little changed as global economic data and corporate earnings were mixed.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Overseas, activity in the euro area economies is increasing at a slightly slower pace than expected, fearing a prolonged slowdown in the currency area. & nbsp; The latest October IHS Markit Purchasing Managers Index & nbsp; (PMI) for The euro area rose to 50.6, from 50.2 expected and reported earlier in the month, and from September reading to 50.1. "data-reactid =" 25 "> Overseas, activity in the euro area economies increased by a little -baven pace than expected, as fears fears that prolonged delay of the currency area is growing. The IHS Markit October Purchase Management Index (PMI) for the euro area rose to 50.6, from 50.2 expected and reported earlier in the month, and from September's reading at 50.1.

In accordance with the trend observed both in the country and in the country. overseas, the euro area services sector outperforms its manufacturing counterpart, helping to keep the composite IPA above the neutral level of 50, indicating expansion. Germany – the euro area's largest economy by GDP, and one that was recently spotted amid slowdowns in production and trade tensions – was the only country to keep its individual PMIs in contracted territory in October.

"There remain differences between the manufacturing and services sectors in October," IHS Markit said in a statement. "While manufacturing companies are registering their ninth consecutive month of decline in production, services companies are showing further growth, albeit at the second slowest rate since January."

Merchant Peter Tuchman, center, works on the floor of the New York Stock Exchange, Monday, November 4, 2019. Stocks open higher on Wall Street, pushing major indexes to higher record values ​​(AP Photo / Richard Drew)

On Wednesday, domestic economic data remained relatively l ki.

Non-agricultural labor productivity unexpectedly decreased by 0.3% in the third quarter, with output increasing by 2.1% and higher by 2.4% increase in hours worked. Consensus economists expected nonprofit productivity to increase by 0.9% in the third quarter, following a 2.5% increase in profits in the second quarter.

The results "are not a huge surprise, given the recent weakness in business investment, with a decline in the second and third quarters, which means that the earlier wave of deepening capital has now gone in the opposite direction," writes Andrew Hunter.

"Weak investment can in turn be blamed on trade insecurity, in which case we can see a recovery if an agreement with China is eventually negotiated." "But it also reflects the fact that lower demand contributes to the renewal of spare capacity, reducing the need for firms to invest."

Separately, the Mortgage Bankers Association announced on Wednesday morning that applications for mortgages were down. lower by 0.1% for the week ending November 1, as the Treasury yield fluctuated before falling at the end of the week Home mortgage refinancing mortgage applications – a category more sensitive to weekly shifts interest rates – rose by 2% during the week and more than doubled compared to last year.

GOODS: CVS lives up to expectations as Aetna acquisition fuel

Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type = "text" content = " CVS ( CVS ) publishes stronger-than-expected results in both the top and bottom lines, largely from Aetna's health insurance business purchased last year, revenue up 37% from last year to $ 64.81 billion, ahead of expectations of $ 63.01 billion and adjusted earnings per share (EPS) of $ 1.84 were up 7 cents Wed. consensus teaching. "data-reactid =" 45 "> CVS ( CVS ) publishes stronger than expected results in both the top and bottom lines, driven largely Aetna Health Business bought it last year, with revenue up 37% year-on-year to $ 64.81 billion, outpacing expectations of $ 63.01 billion, and earnings per share (EPS) of $ 1.84 more good with 7 cents compared to consensus.

Comparative sales in the same store increased by 3.6% or 30 basis points ahead of street expectations and revenues in each of CVS's pharmacy services, retail and healthcare segments exceeded. The company raised and decreased its year-round EPS adjustment by between $ 6.97 and $ 7.05 a share, from $ 6.49 to $ 7 a year ago.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Xerox ( XRX ) is considering a takeover bid for HP ( HPE [19659022]), which makes hardware, including computers and printers, according to a report from the & nbsp; Wall Street Journal, quoting people familiar with the matter. & nbsp; Such an acquisition would take the form of cash offers and would value HP at a premium to its market value of approximately $ 27 billion. " Xerox ( XRX ) is considering a takeover bid for HP ( HPE ), your hardware, including computers and printers, according to a report from the Wall Street Journal, citing people familiar with the matter. Such an acquisition would be in the form of a cash bid and would estimate HP at a premium to its market value of approximately $ 27 billion.

<p class = "canvas-atom canvas-text Mb" (1.0 em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Walgreens ( WBA ) has considered becoming private and has been in talks with private equity firms until to facilitate what would be the largest buyout used so far, Reuters first reported on Tuesday. The drugstore chain has a market value of $ 55 billion, which means that LBO is likely to require the involvement of multiple private equity firms and the potential release of some of Walgreen's assets to fund the deal. "data-reactid =" 52 "> Walgreens ( WBA ) is considering switching private and has held discussions with private equity firms to facilitate what would be most the big buyout so far, Reuters reports on Tuesday, the drugstore chain has a market value of $ 55 billion, which means that LBO is likely to require participation from a number of private equity firms and the potential release of some of Walgreen's assets to fund the deal .

<p class = "canvas-atom pay-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Uber & # 39; s ( UBER ) after the IPO lock-in, the period ends on Wednesday, the first day early investors and employees can sell their shares after the company's public offering in May. This can cause additional stock volatility, as billions of dollars worth of stock can potentially be made available for trading for the first time. The end of the blocking period comes after Uber on Monday & nbsp; publishes better-than-expected results from the top and bottom lines for the third quarter & nbsp; and predicts that it will be profitable on an adjusted EBITDA basis by 2021. "data-reactid =" 53 "> The Uber blocking period ( UBER ) after the IPO ends on Wednesday, the first day that early investors and employees could sell their shares after the company's public offering in May, this could cause additional stock volatility, as billion-dollar stocks could potentially be made available for trading for the first time The end of the lockout period comes after Uber on Monday public honors better-than-expected results from the top and bottom quarters for the third quarter and predicts that it will be profitable based on adjusted EBITDA by 2021.

Shortly after the market opened, Uber Shares fell to record lows 25.58, which is 43% lower than its IPO price of $ 45 per share.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – The Match Group ( MTCH ) published ratings with the best results for the third quarter on Tuesday and increased subscribers by 19% to 9.6 million in the quarter. However, they were overshadowed after the dating app giant published weak guidelines amid ongoing legal battles, including an investigation by the Federal Trade Commission and a legal dispute with Tinder's founders about app evaluation. The company said fourth-quarter revenue would come in as high as $ 555 million, less than the $ 560 million expected from the street. Adjusted EBITDA management of between $ 205 million and $ 210 million also missed expectations. "Data-reactid =" 55 "> Match Group ( MTCH ) published estimates that exceeded third-quarter results on Tuesday and grew subscribers by 19% to 9.6 million in the quarter. However, they were overshadowed after the dating app giant published weak guidance amid ongoing legal battles, including a Federal Trade Commission investigation and legal dispute with Tinder's founders on app valuation, the company said, fourth-quarter revenue will reach up to $ 555 million, which is less The expected EBITDA guidance of between $ 205 million and $ 210 million also missed expectations.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt ( 0.8em) – sm "=" text "content =" Companies including Qualcomm ( QCOM ), Roku ( ROKU ) and Square ( SQ ) report Quarterly results after Wednesday's market close. "data-reactid =" 56 "> Companies including Qualcomm (QCOM), Roku (ROKU) and Square (SQ) report quarterly results after Wednesday's market close.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a Yahoo Finance reporter. & nbsp; Follow her on Twitter: @emily_mcck "data-reactid =" 58 "> Emily McCormick is a Yahoo Finance reporter. Follow me on Twitter: @emily_mcck

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Read more from Emily: "data-reactid =" 59 "> Read more from Emily:

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