Stocks were mixed again today as Oil was weak (-3%) and investors digest the new President elect. The Dow 30 was up 39, the S&P 500 was lower by 3, and the Nasdaq 100 was up 28. Gold (NYSE: GLD) was in focus today as it fell over 3% in an all day slide to lows. The gold mining stocks (NYSE: GDX) also suffered large losses. Next week's economic numbers that will be focused on by traders are retail sales, crude oil inventories, and manufacturing numbers. Also on Thursday Janet Yellen will testify before congress.
Disney (NYSE: DIS) shares shot higher by 2.86% today despite missing Wall Street analysts expectations for earnings in the prior quarter. The bounce came after CEO Bob Iger told investors he's bullish on the company's future. The earnings report revealed that Disney's performance was hurt by declining income at ESPN as the sports network had lower advertising and subscription revenue. The company blames the loss of subscriptions on the "cord cutter" generation.
Nvidia (NASDAQ: NVDA) was the big winner today hitting new 52 week highs, closing up 29.73%. The chip maker announced a beat on both earnings and revenue for the third quarter. Investors focused on the company's profit which more than doubled from a year ago. This was due to revenue increasing over 54% thanks to strong sales of new products. Shares of the tech company, which have been in an uptrend all year long, are up almost 175% for 2016.
Nordstrom (NYSE: JWN) shares also enjoyed a nice gain today (+4.82%) as the high end department store chain delivered a beat on both its top and bottom lines. Revenue rose more than 6% from a year ago as same store sales growth improved. The move today takes the stock above its 3 month trading range, and very nearly to new highs on the year.