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14 November 2017
 |
| Wall Street financial markets (The Total Investment & Insurance Solutions) |
U.S. stocks were down in morning trading Tuesday, giving up small gains
from a day earlier as investors weighed quarterly earnings from several
retailers and other companies. Technology stocks, health care companies and
retailers were the biggest laggards. Energy companies fell along with the price
of crude oil. Utilities companies were up slightly.
KEEPING SCORE: The Standard & Poor's 500
index fell 9 points, or 0.4 percent, to 2,575 as of 10:41 a.m. Eastern Time.
The Dow Jones industrial average lost 104 points, or 0.5 percent, to 23,335.
The Nasdaq composite slid 22 points, or 0.3 percent, to 6,734. The Russell 2000
index of smaller-company stocks gave up 6 points, or 0.5 percent, to 1,468.
NOT A GOOD LOOK: TJX Cos., the parent company
of T.J. Maxx and Marshalls, fell 3.8 percent after reporting revenue and
earnings that missed analysts' estimates. Its shares lost $2.66 to $68.10.
FOUL OUTLOOK: Dick's Sporting Goods slid 4.9
percent after the retailer reported a solid quarter but also said its earnings
per share could drop as much as 20 percent next year. The stock gave up $1.30
to $25.02.
TECH SLIDE: A broad slide in technology
stocks weighed on the market. Micron Technology shed 55 cents, or 1.2 percent,
to $45.06.
GEEZ, GE: General Electric slumped 4.7
percent as analysts downgraded the industrial conglomerate a day after it
pulled back on profit expectations and slashed its dividend in half. The stock
was down 89 cents to $18.13. It's now down more than 42 percent this year.
TAKING FLIGHT: Buffalo Wild Wings soared 24.6
percent on a report that Roark Capital has offered to buy the restaurant chain
for $150 a share, or $2.3 billion. Buffalo Wild Wings shares added $28.80 to
$146.05.
REVVED UP: Advance Auto Parts vaulted 20
percent after the company's latest quarterly earnings exceeded Wall Street's
expectations. The stock gained $16.44 to $98.72.
BONDS: Bond prices rose. The yield on the
10-year Treasury note slipped to 2.38 percent from 2.41 percent late Monday.
OIL: Benchmark U.S. crude was down 62 cents,
or 1.1 percent, to $56.14 per barrel on the New York Mercantile Exchange. Brent
crude, used to price international oils, was off $1.24, or 2 percent, at $61.95
a barrel in London.
The slide in oil prices weighed on energy
company shares. Baker Hughes fell $1.20, or 3.8 percent, to $30.68. General
Electric, which owns a majority stake in the oil and gas giant, said Monday it
might distance itself from Baker Hughes as it seeks to lessen its exposure to
volatile energy prices.
CURRENCIES: The dollar fell to 113.32 yen
from 113.57 yen on Monday. The euro strengthened to $1.1757 from $1.1667.
MARKETS OVERSEAS: Germany's DAX fell 0.4
percent, while France's CAC 40 shed 0.6 percent. Britain's FTSE 100 was little
changed. Earlier in Asia, Japan's Nikkei 225 stock index finished flat. Hong
Kong's Hang Seng index slipped 0.1 percent. Australia's S&P/ASX 200 fell
0.9 percent. South Korea's Kospi edged down 0.2 percent. Shares in Taiwan and
Southeast Asia were mostly higher.The
Total Investment & Insurance Solutions
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