Here is how the U.S Stock Market ended today:
S&P 500 (SPY): +1.30%, or 38.22 points
Dow Jones Index (DIA):+1.41%, or 372.68 points
Nasdaq (QQQ):+1.75%, or 139.95 points
In global market news, the U.S. and China have agreed to meet early next month for another round of trade negotiations in Washington D.C. Though this seems to be a positive step forward in trade negotiations, if a different agreement is not met the next batch of trade tariffs will take effect on December 15 of this year.
Following the news of more positive trade negotiations, stocks in gold have been in decline by 2.06% which brings the price to $1,528.20 per ounce.
In stock news, General Motors (GM ) saw shares raise 1.18% today following CEO and Chairman Mary Barra meeting with President Trump at the White House today. This follows the Twitter attacks Trump had made towards the company's use of foreign workers in China.
Slack (WORK ), an online messaging application, saw negative growth of 3.44% after posting its first earnings report after the stock market closed Wednesday. Investors seem to be concerned about the potential growth of Slack when it is in competition with big companies like Microsoft (MSFT ).
The pharmaceutical company Mallinckrodt's (MNK ) stock took a plunge of 38.46% following reports of the company facing multiple opioid lawsuits and might file for bankruptcy. CVS Health Corp. (CVS ) saw shares raise 1.79% following a federal judge's approval to allow the company to merge with the private health insurer Aetna on Wednesday.
Facebook (FB ) shares have risen 1.9% following the launch of its new dating feature. In response, shares of Match (MTCH ), which is the parent company for online dating applications such as Tinder, Match.com, Hinge, and OkCupid, saw shares fall 4.66%. It is unclear how successful Facebook's dating feature will compare to others offered, but, like many applications, you have to link your Facebook in order to use those dating services; Facebook wants to create a direct line that keeps users on the site.
The retailer Nordstrom (JWN ) saw a raise of 5.59% following the greater investor confidence surrounding the U.S. and China trade war. Department stores like Nordstrom, Walmart (WMT ), Macy's (M ), and Target (TGT ) are at greater threat from the trade tariff because of the massive amounts of textiles and clothing that are imported from China.
In energy news, Oil prices have begun to rise following the third straight week of U.S crude supplies declining. Currently, Crude oil on the U.S. stock market is up 0.59% which prices to $56.59 per barrel. General Electric (GE ) saw stock raise 0.11% today.
Tomorrow's update will see how the U.S stock market moves with the growing positive outlook surrounding the trade war.
