Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average finished flat Wednesday, a day after it closed at a record, as investors balked at news of a possible delay in U.S.-China trade talks.
- CVS Health (CVS) climbed after the health-services company posted stronger-than-expected third-quarter earnings and lifted its full-year profit guidance. CVS Health is Real Money's Stock of the Day.
- HP Inc. (HPQ) soared after The Wall Street Journal reported that Xerox (XRX) was considering making a cash-and-stock offer for the personal computing company.
Wall Street Overview
Stocks finished mixed Wednesday as investors balked at news of a possible delay in U.S.-China trade negotiations.
The Dow, which hit an intraday and closing high on Tuesday, ended down 0.07 points, essentially flat, to 27,492.56. The S&P 500 ended up 0.07% and the Nasdaq dropped 0.29%.
The South China Morning Post reported Wednesday that next week's scheduled trip to Brazil by Chinese President Xi Jinping may come too soon for him to sign the "phase one" pact with the U.S.
A meeting between Xi and President Donald Trump will likely be delayed until December as the two sides agree on a new venue.
"The idea that Presidents Trump and Xi are going to come to an orderly accord is totally out of keeping with both men," said TheStreet.com's founder,
. "But there is good news. There are plenty of stocks that have been thrown away for several weeks because of a belief that the Fed and a trade deal will avoid a recession."
CVS Health (CVS) climbed 5.4% to $70.94 after the health-services company posted stronger-than-expected third-quarter earnings and lifted its full-year profit guidance. CVS Health is Real Money's Stock of the Day.
HP Inc. (HPQ) soared 6.4% to $19.58 after CNBC, following up on a Wall Street Journal report, confirmed that Xerox (XRX) made a cash-and-stock offer for the personal-computing company, which has a market value of about $27 billion. Xerox was up 3.6% to $37.67.
was off slightly to $20.77 after the
beat Wall Street's third-quarter profit and sales expectations.
"There has been a fundamental revaluation of revenue growth and the value of profits in an increasingly uncertain world," CEO Dara Khosrowshahi said at the New York Times' Dealbook conference in New York. "And I think the appetite for the unknown and for high risk in the public markets has just gone down and that has consequences."
Nonfarm productivity slid 0.3% in the third quarter, the Bureau of Labor Statistics said, its first quarterly decline since the fourth quarter of 2015. Output increased 2.1% and hours worked increased 2.4%.
U.S. crude supplies climbed by 7.9 million barrels for the week ended Nov. 1, the Energy Information Administration said. Brent crude contracts were down $1.09 and trading at $61.87 a barrel, while West Texas Intermediate contracts for December were 72 cents lower at $56.51 per barrel.
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