The markets were mostly higher today but just barely. The Dow 30 was up 24, the S&P 500 added 3, and the Nasdaq 100 gained 11. Investors were focused on the pending OPEC meeting which had oil prices volatile today. Oil lost almost 4% and stole the medias attention for the morning. Tomorrow the focus will continue to be on the OPEC meeting results, along with some light home sales numbers that are due out in the morning.
United Health's (NYSE: UNH) blasted off to new highs today gaining 3.60% as the healthcare insurance company reiterated its guidance for this year along with a positive outlook for 2017. The company expects "earnings per share to potentially reach $9.60 a share next year." The company is set to host it's annual investor conference today.
Allstate (NYSE: ALL) announced today that it is buying private company, SquareTrade, which sells warranties for electronic products, for $1.4 billion. The deal allows Allstate to expand into new business areas, thought investors are concerned at the cost of the new venture. Shares were lower today by 3.30% and technical traders noticed the potential of a "failed" breakout pattern on the daily charts.
Tiffany (NYSE: TIF) announced an earnings beat on both its top and bottom lines for the third quarter. today, sending shares briefly to new highs (3.15%). The company reported that revenue rose more than 1% from a year ago, which makes it the first rise in sales in eight quarters. The company attributes this to "strong sales in China and Japan, which helped offset a decline in the US." Shares are up over 40% since setting a low back in late June.