Market Recap – November 21st
The Dow Jones Industrial Average is trading at 33,684.75, down 0.18% today. The Energy and Consumer Discretionary sectors are the biggest laggards, down 2.22% and 1.51%, respectively. Looking at specific investments, we’re watching Williams-Sonoma and MongoDB. Williams-Sonoma, the warehouse retailer, saw its stock fall 1.9% in premarket trading after Barclays downgraded it to “equal weight” from “overweight”. They justified the downgrade by pointing to the negative impact of a weakening housing market. MongoDB also saw a downgrade, with Morgan Stanley moving the stock from “equal-weight” to “overweight”. MongoDB fell 4.3% in the premarket, and Morgan Stanley predicts the company will be impacted in the near term by a cautious corporate spending environment.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.