U.S. equities finished mixed, staging somewhat of a midday comeback off the lows after posting a fifth-straight weekly gain and all-time highs for the three major indexes last week. News was in short supply amid an empty economic calendar and the U.S. bond market closed in observance of the Veterans Day Holiday. A heavy week of data looms however, headlined by inflation and retail sales reports, along with Fed Chairman Jerome Powell’s Congressional testimony, as well as an earnings report from Dow member Walmart. The U.S. dollar was lower, as were gold and crude oil prices. In light equity news, Bloomberg reported that Dow member Walgreens Boots Alliance has been approached by KKR & Co about going private, while Alibaba was in focus as its “Singles Day” sales are on pace to post a record.
The Dow Jones Industrial Average (DJIA) rose 10 points to 27,691, the S&P 500 Index decreased 6 points (0.2%) to 3,087 and the Nasdaq Composite declined 11 points (0.1%) to 8,464. In moderate volume, 760 million shares were traded on the NYSE and 1.7 billion shares changed hands on the Nasdaq. WTI crude oil lost $0.38 to $56.86 per barrel and wholesale gasoline shed $0.02 to $1.61 per gallon. Elsewhere, the Bloomberg gold spot price was $3.56 lower at $1,455.44 per ounce, and the Dollar Index—a comparison of the U.S. dollar to six major world currencies—declined 0.2% to 98.20.
The U.S. bond markets were closed in observance of the Veterans Day Holiday, with the yields on the 2-year and 10-year notes at 1.67% and 1.94%, respectively, while the 30-year bond rate sits at 2.42%.
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