The markets were back and forth today as expected following traders response to former FBI director, James Comey's testimony to congress. The markets moved back and forth with every comment made from the director but ultimately finished higher by the close. The Dow 30 gained 10, the S&P 500 closed flat, and the Nasdaq 100 was positive by 24. As the week comes to a close the scheduled news is quite light. Traders will likely have only the current political news, along with any company specific news to trade on.
Alibaba (NASDAQ: BABA) soared to new record highs today following comments from the CFO, Maggie Wu where she said annual sales growth will rise between 45% and 49% for fiscal 2018. The comments were made at an investor conference and investors loved the positive remarks. Shares were up almost 15% today and are now higher by over 60% for 2017.
Nordstrom (NYSE: JWN) helped the retail stocks enjoy strong days today. Shares popped almost 10% today following news that the company has formed a special committee to explore a deal to take the company private. The news sparked a rally today that nearly touched the 200 day moving average. Though it was a strong day for Nordstrom today, shares did close well off their highs of the session.
Pandora (NYSE: P) made headlines today as, once again news came out that Sirius XM (NASDAQ: SIRI) has been considering investing in the streaming music service. The news, according to Reuters comes just a short time after the last time the two companies tried to work together, but negotiations broke down.