Indexes Mostly Flat; Square Dives, But Stich Fix Soars To Fresh High | Stock News & Stock Market Analysis

The stock market kicked off the week with a mixed and mostly unchanged performance, a perfectly acceptable performance for the bulls.

According to a CNBC report citing data from Adobe Insights, Cyber Monday sales were on a record-breaking pace on the heels of solid Black Friday sales.

XAutoplay: On | OffShares of Leaderboard name (AMZN) outpeformed, rising 1% to 1,197.63. The tech bellwether scored a new closing high for the fourth straight session.

The Dow Jones industrial average ended slightly in the green, up 0.1%, helped by gains of 1% or more by Verizon (VZ), 3M (MMM), Home Depot (HD) and Cisco Systems (CSCO). The Nasdaq composite lost nearly 0.2% and the S&P 500  fell fractionally. Small caps lagged with the Russell 2000 down 0.4%, according to preliminary data.

In the stock market today, beaten-down department store operators outperformed. So did solar stocks and various utilities. Oil and gas stocks lagged as benchmark crude oil lost 1.4%, settling at $58.11 a barrel.

Elsewhere, in its sixth day as a publicly traded company, Stitch Fix (SFIX) soared to a new high, rising 24% to 23.08. Goldman Sachs brought the company public on Nov. 17 at 15.

Among the day’s movers, Deere & Company (DE) extended gains, rising 2%, after shares popped 7% last week on strong earnings.

Inside the IBD 50, Ichor (ICHR) added nearly 4% as it trades near the 50-day moving average. Shares have been volatile lately after a recent breakout from a cup-with-handle base.

Leading China stocks were generally weak with names like Autohome (ATHM), YY Inc. (YY), Sina Corp. (SINA) and (WUBA) ending with losses ranging from 4% to 6%.

The big loser was high flier Square (SQ), which plunged 16% on a negative analyst comment. The stock recently broke out over an upper channel line, an occurrence that often signals a top.

The 10-year Treasury yield was recently trading around 2.33%, down 2 basis points, ahead of Tuesday’s confirmation hearing for Jerome Powell, President Trump’s nominee to lead the Federal Reserve.

In economic news, new-home sales rose for the third straight month in October to a 10-year high. Homebuilders have been outperforming in recent months. Headed into the Monday, the home-builder industry group was ranked No. 4 out of 197 groups tracked by IBD based on six-month price performance.


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Originally posted 2017-11-28 09:50:01.


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