It was another wild day of trading on Wall Street today as the markets swung in a large trading range again. The Dow started the day higher by 300 points, sold all the way into the red before bouncing into the green again by over 100 points, but ultimately lost 53. The S&P 500 closed lower by 1 and the Nasdaq 100 closed up by 11.
Investors are now looking towards the Federal Reserve's rate decision next week, as well as new political drama heating up over the border wall funding and possible government shutdown.
Sector News
Oil traded higher today on news of a Libyan supply outage. Oil added 1.3% on the day, but remains near 52-week lows.
The chip sector was one of the better performers on the day thanks in part to Broadcom (AVGO ), which continues to show momentum from the bulls following its earnings beat; they've also upped their dividend and announced a share buyback.
Stock News
Ford (F ) and General Motors (GM ) shares moved higher today on news from Bloomberg that China is working on cutting tariffs on American-made cars. The report stopped the recent slide in both names as investors continue to pick bottoms.
DSW (DSW ) shares were sharply higher today as the company reported earnings and revenue that was better than Wall Street expected. The company also raised their full-year estimates, which seems to promote a healthy holiday shopping season. Shares have been mostly muted near the 200-day moving average for the last month and a half.
Under Armour (UA ) shares were slightly higher today as the company announced they had fired two of their marketing executives following an internal review of their expenses. Under Armour shares remain one of the stronger names in the S&P 500 this year.
