Stock Market Today: Indexes Down On Flynn Guilty Plea; Apple Fine; Sell These 2 Retail Stocks? | Stock News & Stock Market Analysis

Techs commanded the downside and the Nasdaq composite was still off nearly 0.7% but continued to trade well off its late-morning lows on Friday.

XApple (AAPL), meanwhile, lost less than 1% and held above a new buy point of 160.97 in a nearly eight-week cup with handle. Unlike some other leading tech stocks, the iPhone giant is also trading nicely above its 50-day moving average, a sign of strength.

However, Ulta Beauty (ULTA) and Five Below (FIVE) joined the downside following quarterly results. The former triggered sell signals in June and early July by caving below the 50-day moving average. The latter is still in good shape after breakouts from two buy points.

At 3 p.m. ET, the Nasdaq, down as much as 1.5% early, shaved that decline to nearly half that, while the Nasdaq 100-tracking PowerShares QQQ Trust (QQQ) ETF gave up less than 0.7%.

Oil stocks advanced on a nice rally by U.S. crude futures, which hit $58 a barrel, and lent support to other major indexes. The S&P 500 fell less than 0.5%, the Dow Jones industrial average off less than 0.4%.

Volume was running sharply higher on both exchanges vs. the same time Thursday as Wall Street awaits the results of a Senate vote on a transformative tax reform package. Earlier, stocks sold off on news that former National Security advisor Michael Flynn struck a plea deal in which he could provide damaging testimony on President Trump’s administration.


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Originally posted 2017-12-02 04:15:16.


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