The markets closed out the last day of the month in the green as investors gained confidence about the potential results of this weekend's meeting between President Trump and President Xi of China. The Dow 30 closed higher on the day by 199, the S&P 500 added 22, and the Nasdaq 100 closed higher by 57.
Sector News
The banking sector snuck in a decent performance today despite the rest of the market being fairly quiet for most of the day. The Banking sector was only slightly higher on the day, but held its bid consistently. These little clues could be just what the bulls are looking for to move money back into the underperforming sector.
Transportation was another strong area of the markets today thanks to gains in railroad stocks like Union Pacific (UNP ) and Norfolk Southern (NSC ), among other transportation stocks. Technical traders note the successful move back above the 200-day moving average.
Stock News
Marriott (MAR ) took a hit today as it was reported that a hack to the system of their Starwood brand compromised the data of all guests going back to 2014. Marriott bought Starwood last year. Shares moved back towards recent lows but were able to close off their lows of the session.
Workday (WDAY ) shares broke to new highs today as the company announced earnings that were much better than expected. Revenue was also a focus as it handily beat Wall Street's expectations. The company also reported that a 35% increase in their subscription revenue was the main reason for the beat.
Under Armour (UA ) shares broke to new 52-week highs today as the company was upgraded by Wells Fargo (WFC ), which said that the "bear case for UA has run out of steam." The company will host their analyst meeting in December which many feel will show even more bullish results.
