Market Recap – November 16th 📈

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Market Recap – November 16th 📈

Investors felt the chances of a pivot from the Fed dwindled after a higher-than-expected retail sales data release, where the major indices suffered some losses. The S&P 500 dropped 0.83% ending at 3,958.79, the NASDAQ Composite went down 1.54% to 11,183.66, and the Dow Jones fell 0.12% down to 33,553.83. Contrary to the economic data, retailer Target is down -13.14% after the company reported far lower-than-expected earnings. The same applied to Advance Auto Parts, which had reported weak third-quarter earnings that sent its stock spiralling down 15.06%.

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