U.S. Markets closed
  • S&P 500

    +32.40 (+0.88%)
  • Dow 30

    +248.74 (+0.83%)
  • Nasdaq

    +87.05 (+0.70%)
  • Russell 2000

    +43.75 (+2.37%)
  • Crude Oil

    +0.45 (+0.99%)
  • Gold

    +0.90 (+0.05%)
  • Silver

    +0.13 (+0.55%)

    -0.0022 (-0.1819%)
  • 10-Yr Bond

    +0.0490 (+5.33%)
  • Vix

    -0.49 (-2.30%)

    -0.0015 (-0.1088%)

    +0.2800 (+0.2696%)

    -8.28 (-0.04%)
  • CMC Crypto 200

    -14.05 (-3.71%)
  • FTSE 100

    +59.96 (+0.92%)
  • Nikkei 225

    -58.13 (-0.22%)

Stock Market Live Updates: Stocks close mixed

Nishant Mohan and Javier E. David

Follow Yahoo Finance here for up-to-the-minute briefings on the financial markets, breaking news and other topics of interest to investors and traders. Please check back for continuing coverage.

4:06 p.m. ET: Urban Outfitters plunges after reporting earnings

Urban Outfitters fell 11% after reporting disappointing third-quarter earnings, according to Bloomberg.

4:01 p.m. ET: Stocks close mixed

  • S&P 500 (^GSPC): -0.06%, or 1.85 points

  • Dow (^DJI): -0.36%, or 102.2 points

  • Nasdaq (^IXIC): +0.24%, or 20.72 points

  • 10-year Treasury yield (^TNX): -2.2 bps to 1.786%

2:20 p.m. ET: Macy’s stock declines after revealing data breach

Shares in Macy’s (M) continued to fall during intra-day trading, now down 10%, after news before the market open that the company was hit with a data breach in October. The company revealed in a letter to customers that full names, addresses, phone numbers, email addresses, and credit card numbers may have been taken.

12:35 p.m. ET: Boeing sandbagged by NTSB call to redesign 737 NG

Bloomberg reports that federal regulators have issued a call for Boeing (BA) to retool thousands of Boeing Co. 737 NGs, which was at the center of an incident last year in which the structure partly broke off in flight and killed a passenger. The aerospace giant’s stock spiked 2% lower when the news hit around noon, but has since recouped those losses.


12:18 a.m. ET: DoorDash sued for cheating drivers of tips

On Tuesday, DC’s Attorney General Karl Racine filed suit against food delivery app DoorDash over what the official called “its practice of encouraging consumers to tip for food deliveries and then pocketing those tips instead of passing them along to workers.” The company promptly hit back, sending the following statement to Yahoo Finance:

“We strongly disagree with and are disappointed by the action taken today. Transparency is of paramount importance, which is why we publicly disclosed how our previous pay model worked in communications specifically created for Dashers, consumers, and the general public starting in 2017. We’ve also worked with an independent third party to verify that we have always paid 100% of tips to Dashers. We believe the assertions made in the complaint are without merit and we look forward to responding to them through the legal process."


11: 45 a.m. ET: Stocks pull back from latest record peaks

With no impetus for probing the upside, major benchmarks are testing the session’s lows. There’s no fresh news on U.S.-China talks, so stocks are drifting lower.


10:38 a.m. ET: Investors cut Slack no slack as Microsoft app soars

Slack’s stock (WORK) is tumbling over 9% in early trading after competitor Microsoft (MSFT) said its Teams application has now netted over 20 million active users, up from 13 million in July. The stiffer competition in the work collaboration space has been a point of concern for Slack analysts and investors, and its already beleaguered shares are suffering as a result.


10:06 a.m. ET: Saudi Aramco confident about IPO demand

A Bloomberg report says the Saudi oil giant’s bankers think there’s enough investor interest to make its offering successful. From the story:

“The IPO arrangers are indicating in private discussions that they already have nearly enough orders from the the first three days of marketing to cover the institutional portion of the deal, according to the people.
• The precise amount of real demand will only become clear later once underwriters compare the orders they’ve received, the people said, asking not to be identified because the information is confidential.”

At $1.5 billion, the offering will make the company the world’s most valuable, despite falling short of an original valuation target of $2 trillion. Recall that Saudi Aramco decided to list exclusively on the country’s local exchange, amid questions about the rigorous disclosure required to float on Western exchanges. Yahoo Finance previously reported that international buyers were cool on the IPO, given security and governance concerns.


In this Monday, Oct. 7, 2019 photo, a customer enters The Home Depot store in Miami. (AP Photo/Wilfredo Lee)
In this Monday, Oct. 7, 2019 photo, a customer enters The Home Depot store in Miami. (AP Photo/Wilfredo Lee)

10:00 a.m. ET: Home Depot faults grim results on tariffs, lumber price drop

On its earnings call, HD’s executive team cites the twin drags of “depressed” lumber prices and rising costs associated with tariffs. CFO Richard McPhail told analysts that:

"U.S. comps for the quarter were negatively impacted by approximately 35 basis points. As you just heard from Ted, during the third quarter, lumber prices remained depressed. Versus last year, this lumber price deflation negatively impacted our comp sales growth by approximately $175 million or over 65 basis points."

Meanwhile, EVP of merchandising Ted Decker had this to say:

"Let me take a moment to comment on tariffs. As expected, during the third quarter, we saw increased costs arising from tariffs. Our merchants, finance and data analytics teams are doing an incredible job mitigating cost impacts in helping us evaluate our elasticities. While still early days, we continue to believe we can effectively manage tariffs. However, we remain cautious on how tariffs could impact the consumer more broadly."

Home Depot’s (HD) stock is down 5% in early trading around $226.82.


9:40 a.m. ET: Fed’s Williams: Economy is ‘right where we would like’

Key Federal Reserve members continue to downplay expectations (or the need) for another rate cut, with New York Fed President John Williams saying rates are appropriate for current economic activity.

"I think we have monetary policy in the right place," Williams said during a discussion at a capital markets conference in Washington, according to Reuters. "The economy is right where we would like it to be."


9:30 a.m. ET: Stocks open at new highs

Markets open at new record highs, as investors shrug off bad news from retail bellwethers Home Depot (HD) and Kohl’s (KSS)— both of which missed quarterly earnings forecasts. The main driver continues to be news about U.S.-China trade negotiations, where both sides continue to thrash out details in hopes of reaching an interim agreement within the next few weeks.

Here’s where the major benchmarks opened the session:

  • S&P 500 (^GSPC): 5.02 points, or +0.16%

  • Dow (^DJI): 52.85 points, or +0.19%

  • Nasdaq (^IXIC): 24.57 points, or +0.28%

  • 10-year Treasury yield (^TNX): flat around 1.807%

  • WTI crude oil prices: (CL=F): -1.06% to $55.99 per barrel

  • Gold (GC=F): -0.30% at $1,467.60 per ounce


9:10 a.m. ET: Goldman Sachs says China tariffs have ‘likely peaked’

In research issued late Monday, the investment bank argued that the U.S.-China trade war should be less of an economic drag next year:

“The news on trade policy has gotten better in recent weeks, and we believe that tariffs on imports from China have likely peaked. If so, the impact of the trade war on GDP growth in the US and China—and the world economy more broadly—should become less negative in 2020...

For both countries, we break down the growth impact into the following four channels: the net trade effect, the real income effect, the FCI effect and the trade policy uncertainty effect.”

And according to those four criteria, Goldman found that the net effect of tariffs on Chinese growth is “moderately larger” than for the U.S.. Analysts also found that:

...the composition of this drag differs, with the FCI tightening effect standing out in the US while the net trade effect is negative and significant for China. Third, barring another round of major escalation, we expect the negative effect of the trade war on both US and China real GDP growth to gradually fade in 2020.”

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.

Find live stock market quotes and the latest business and finance news