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Dow Hits Another Record, Core PCE 2.8% as Expected | Live Stock
Good morning, traders. Happy Wednesday, November 27th. My name is Kevin Travers, and the S&P 500 and market are falling while the Dow hit fresh highs. PCE numbers for October were right as expected at 2.8% Core and 2.3% total.
$Dell Technologies (DELL.US)$ fell 11%, the lowest on the S&P 500, after its earnings beat expectations, but the firm missed slightly on revenue and provided soft guidance for the current quarter. The firm said its artificial-intelligence services demand was growing, but demand for PCs was falling.
$HP Inc (HPQ.US)$ also fell about 11% after the firm met analyst earnings expectations Tuesday night, but also missed estimates for the projected current quarter.
$Nordstrom (JWN.US)$ fell 11%, but its earnings actually beat or matched expectations. In its quarterly update, the firm did not give an update on the prospect of going private, a conversation that started earlier this year.
$MicroStrategy (MSTR.US)$ climbed 9%, after falling a whopping 16% last week when Bitcoin approached $100k.
It was not the only crypto firm seeing a price climb- crypto companies tracked by moomoo climbed 5%, lead by a 25% jump in $IREN Ltd (IREN.US)$, despite its report of a Fiscal Q1 loss.
$Bitcoin (BTC.CC)$ hovered at $94k, Gold climbed, the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.
Just past 10:30 am ET the $S&P 500 Index (.SPX.US)$ traded -0.27%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 20 bps to a new high of 45,003, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.82%
In other macro news, GDP numbers were revised lower for the third quarter, the second of three estimates. The economy grew 2.8% based on the new number, down from 3% expected at the start of the quarter but above the 1.4% growth rate of the first quarter.
Yesterday, users argued about tariffs and AI in the comments, and I love it. At least we can be unified in one thing: anger.
Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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