Market Recap – November 6th
On Monday’s trading day, markets continued to stand in the green following last week’s strong gains spurred by the Federal Reserve’s decision to hold rates. This week, markets will be following more corporate earnings alongside weekly jobless claims to determine new price action before October’s economic data. For the main indices, the S&P 500 rose 0.18%, the NASDAQ Composite went up 0.30%, and the Dow Jones grew 0.10%. Despite the small gains made by the major averages, two companies that fell deep beneath the red were Hilton Grand Vacations and Dish Networks. Hotel company Hilton Grand had its stock fall 8.05% after investors adjusted their valuations following its acquisition of Blue Green Vacations for nearly $1.5 billion. Satellite TV company Dish Network plunged 37.43% on Wall Street after the company posted third-quarter top and bottom figures that missed expectations, with the firm posting losses of 26 cents per share after forecasts of earnings of 5 cents per share.
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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.