The News

WWW.THENEWS.MX

Friday 22, November 2019
Capital Coahuila
Capital Querétaro
Capital Edo. de Méx.
Capital México
Capital Mujer
Reporte Índigo
Estadio Deportes
The News
Efekto
Green TV
Revista Cambio
  • Radio Capital
  • Pirata FM
  • Capital Máxima
  • Capital FM
Digital
Prensa
Radio
TV

Stocks Move Mostly Higher, Recovering from Seven Days of Losses

The price of crude oil extended a losing streak into a fifth day. Benchmark U.S. crude slipped 2 cents to $45.32 a barrel in New York
By The News · 03 of November 2016 08:41:08
A miniature reproduction of Arturo Di Modica's "Charging Bull" sculpture sits on display at a street vendor's table outside the New York Stock Exchange, A miniature reproduction of Arturo Di Modica's "Charging Bull" sculpture sits on display at a street vendor's table outside the New York Stock Exchange, in lower Manhattan. U.S. stocks are moving up early Friday, Oct. 28, 2016, after the government said the economy broke out of its recent slump and grew faster than expected during the third quarter. (AP Photo/Mary Altaffer), photo: AP/Mary Altaffer

Stocks were higher in early trading Thursday, putting the market on track to break a seven-day losing streak, but the gains were modest as investors remain transfixed on the potential outcome of next week’s presidential election.

KEEPING SCORE: The Dow Jones industrial average added 37 points, or 0.2 percent, to 17,995 as of 10:30 a.m. Eastern. The Standard & Poor’s 500 index rose 3 points, or 0.1 percent, to 2,101 and the Nasdaq composite fell less than a point to 5,104.

ELECTION JITTERS: With five days left until the election, Hillary Clinton maintains a lead in polling in the U.S. presidential race but Donald Trump has narrowed the gap. Investors generally favor a Clinton victory as she is seen as maintaining the status quo. Trump’s policies are less clear, and the uncertainty has caused jitters in financial markets.

POUND UP: The battered British pound jumped 1.5 percent to $1.24 after a court ruled that Prime Minister Theresa May must hold a vote in parliament over leaving the European Union. May had maintained that the government could give the EU notice it is leaving without such a vote, after voters chose the “leave” option in a referendum in June.

A vote in parliament was seen as making it less likely that the government would wind up with a “hard” exit involving loss of access to tariff-free business with the EU, which is the country’s largest trading partner. The government can appeal the court decision.

OUT OF SHAPE: Fitbit, the maker of wearable fitness trackers and other devices, plunged $3.79, or 30 percent, to $9.01 after the company slashed its outlook for the year, citing weak demand for its products. The company also cut its sales forecast for the holiday shopping season.

UN-LIKED: Facebook fell $6.50, or 5 percent, to $120.65. While the company reported third quarter results that easily exceeded analysts’ estimates, it also acknowledged that growth in advertising revenue was slowing.

ENERGY: The price of crude oil extended a losing streak into a fifth day. Benchmark U.S. crude slipped 2 cents to $45.32 a barrel in New York. Brent crude, the international standard, was unchanged at $46.86 a barrel in London.

BONDS AND CURRENCIES: U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.82 percent from 1.80 percent a day earlier. In currency trading, the dollar fell to 103.25 yen from 103.28 yen, while the euro dipped to $1.1062 from $1.1096 the day before.