The markets were quiet most of the day until the Federal Reserve announced that it would keep rates the same for now. The Dow 30 closed higher on the day by 10, the S&P 500 lost 7, and the Nasdaq 100 was the worst performer with a loss of 39.
Sector News
Retail stocks continued their march higher today thanks to positive news out of names like L Brands (LB ) the parent company of Victoria's Secret. The sector has now comfortably pushed back above the popular 200-day moving average with gains of over 3% this week alone.
Oil was once again one of the areas that saw more weakness today. For the month of November already the price of oil is down almost 10%, which has hurt many oil-related stocks. Technical traders view the $58 area as short-term support as the commodity finds itself now in bear territory.
Stock News
Roku (ROKU ) shares were lower today as the company reported earnings that came in slightly better than expected along with revenue. Though they beat expectations, the company still showed a loss and guided for weaker overall platform revenue for the all important holiday quarter. Shares have fallen all the way back to the 200-day moving average, showing losses of about 40% from the highs. Adding to the pressure was Comcast's (CMCSA ) announcement that they would release their own set top box to compete with Roku.
Take-Two Interactive (TTWO ) shares traded in a wild range today as the company reported earnings and revenue that were better than Wall Street was expecting. The strong beat came as their newest edition of "Red Dead" broke industry records with more than $725 million in sales on just the opening weekend. Investors noted that the success in just 8 days of this game was more than the last game did in 8 years.
Square (SQ ) shares sold off today despite the company beating on revenue and earnings. Investors focused on the guidance for this current quarter, which is currently below Wall Street's expectations. Despite the move down today, Square is still one of the best-performing stocks of the year with about a 120% gain.
