19 NOV 2024 Market Close & Major Financial Headlines: Small Caps Rise Again While The Dow Sinks Five Sessions In A Row, Markets Close Mixed
Summary Of the Markets Today:
- The Dow closed down 120 points or 0.28%,
- Nasdaq closed up 196 points or 1.04%,
- S&P 500 closed up 23 points or 0.40%,
- Gold $2,638 up $23.10 or 0.88%,
- WTI crude oil settled at $70 up $0.37 or 0.53%,
- 10-year U.S. Treasury 4.394 down 0.020 points or 0.453%,
- USD index $106.19 down $0.08 or 0.08%,
- Bitcoin $92,760 up $0,967 or 1.05%, (24 Hours), (New Bitcoin Historic high 92,911)
*Stock data, cryptocurrency, and commodity prices at the market closing
Today’s Highlights
The major indexes closed mixed as Wall Street largely shrugged off concerns about potential nuclear escalation in the Russia-Ukraine conflict. The NASDAQ Composite was the standout performer with Nvidia playing a key role in boosting the NASDAQ, with its stock climbing nearly 5% following bullish analyst notes ahead of its earnings report on Wednesday. Earlier in the day, markets reacted to geopolitical tensions after Russia updated its nuclear doctrine. This led to initial gains in safe-haven assets like US bonds and gold. Bitcoin prices reached a new record above $93,500 per token. Treasury yields declined, with the 10-year yield falling about 4 basis points. Gold prices increased nearly 1%, trading above $2,600 per ounce.
Click here to read our current Economic Forecast – November 2024 Economic Forecast: Our Index Marginally Declines – We Are Stuck With The Crappy Economy We Have Seen So Far This Year
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Privately owned housing units authorized by building permits in October 2024 were 7.7% below October 2023. Privately-owned housing starts is 4.0% below October 2023. Privately-owned housing completions 16.8% above October 2023. The number of finished but unsold new homes is at its highest level since 2009, when the market was still recovering from the global financial crisis. In the second graph below, the blue line is units under construction showing a decline in homes under construction. So it is important to reduce the amount of houses being constructed including those being permitted and starting construction – and in the second graph below you can see this happening.
Here is a summary of headlines we are reading today:
- Trump Administration to Fast-Track Self-Driving Car Regulations
- Drill Baby Drill Returns as G20 Drops Fossil Fuel Phase-Out from Final Draft
- Oil Prices Level Out Amid Production Outages and Russia/Ukraine Escalations
- Escalation in Ukraine War Brings Back Geopolitical Risk in Oil
- Europe’s Largest Oilfield Resumes Production After Power Outage
- Nasdaq jumps 1% as Wall Street looks past Russia-Ukraine tensions, Nvidia shares surge: Live updates
- Nvidia earnings are more important to the market than the Fed and jobs data, according to options market
- Bitcoin rises to new record above $94,000: CNBC Crypto World
- Super Micro shares soar 31% after company names new auditor to help keep Nasdaq listing
- Netanyahu Signals Rejection Of Lebanon Truce: ‘Israel Will Continue To Operate Against Hezbollah’
- Here’s what bond and gold traders are signaling about Russia’s nuclear shift
- Treasury yields end at lowest in over a week after Putin signs new nuclear doctrine
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.