Market Recap – November 23rd
The Dow Jones Industrial Average was up 0.28% on Wednesday, closing at 34,194.06. The best-performing sectors were the Materials and Communication Services sectors, up 1.30% and 1.14%, respectively. Looking at specific investments, we’re watching Manchester United and Nordstrom. Manchester United saw a massive rally of 9.5% in the premarket on top of yesterday’s 14.7% jump. These rises came in light of the news that the soccer club is considering strategic alternatives, including a possible sale. Looking at Nordstrom, the store beat top and bottom line estimates for its latest quarter; even so, the stock slumped 8.3% after the retailer said sales have slowed over the past few months. On top of this, Nordstrom cut its profit outlook for the fiscal year ending in January.
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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.