The broader market ended the abbreviated session split. The Nasdaq Composite closed with the best gains today, adding 11.38 points (+0.22%) to end 5127.52. The S&P 500 ended modestly higher, up 1.26 points (+0.06%) to 2090.12. The Dow Jones Industrial Average was lower, however, shedding 14.90 points (-0.08%) to 17798.49. There was no market data reported today.
The Technology (XLK 43.91, +0.10 +0.23%) sector closed modestly higher today. Action only dipped into the red briefly around 10 a.m. ET, but ultimately finished higher as AVGO +1.29%, FTR +1.22%, MCHP +1.15%, BRCM +0.98%, AMAT +0.92%, TEL +0.84%, NVDA +0.84%, WIN +0.81%, VZ +0.69% outperformed. Other sectors ended with muted action, closing XLP +0.38%, IYZ +0.37%, XLF +0.24%, XLV +0.19%, XLU +0.19%, XLI +0.17%, XLB -0.13%, XLY -0.37%, XLE -0.72%.
Chinese tech names were in play today as news came out in the overnight session highlighting the nearly 5.5% loss in the Shanghai Composite. The decline was exacerbated by the news that certain brokerages in the country would be investigated for alleged violations of trading rules, in addition to reports that industrial profits declined 4.6% in October. In relation, the QQQC -3.4% and the CQQQ -2.3% displayed relative weakness today with components LNVGY -5.8%, WB -3.5%, NTES -3.2%, SINA -2.9%, NQ -1.0% ending particularly lower.
The S&P 500 Information Technology sector (738.30, +1.02 +0.14%) ended modestly higher as technology was held in a tight range on the day with limited volume. Modest gains today in blue chip names like CTXS +0.64%, MA +0.52%, TXN +0.49%, XLNX +0.45%, MSFT +0.45%, ADBE +0.44%, XRX +0.38%, GOOGL +0.35%, V +0.35% helped the sector finish above flat lines.
The news wires were relatively slow today, as Retail (XRT 45.56, -0.06 -0.13%) was in focus on the abbreviated Black Friday session. Names like Fitbit (FIT 27.84, -0.15 -0.54%), Apple (AAPL 117.81, -0.22 -0.19%) and GoPro (GPRO 20.28, +0.28 +1.40%) were in play as consumers rushed to get the majority of the deals and Christmas shopping done.
In addition to some consumer-related technology names seeing some action today, Semi (SOX) names were again among those with the majority of gains as names like SUNE +3.38%, MRVL +2.76%, ON +2.58%, SWKS +1.98% ASML +1.67%, ATML +1.53%, AVGO +1.29%, MCHP +1.15%, ARMH +1.00%, BRCM +0.98%, AMAT +0.92%, MXIM +0.85% outperformed the broader market. The only news in the sector today came in the form of the FTC approval of NXP Semi's (NXPI 88.36, +3.88 +4.59%) merger with Fairchild Semi (FCS 19.54 +0.07 +0.36%).
Quarterly earnings expected this coming week:
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