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Markets Are 'Almost a Carbon Copy of Yesterday'

Dow falls 102 points
By Newser Editors and Wire Services
Posted Nov 19, 2019 3:30 PM CST
Trader Craig Esposito works on the floor of the New York Stock Exchange, Monday, Oct. 28, 2019. The S&P 500 rose 16 points, or 0.6 %, to 3,039, while the Dow Jones Industrial Average added 132 points,...   (AP Photo/Richard Drew)

(Newser) – Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market. A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 0.1% below the record close it reached on Monday. Energy sector stocks took the heaviest losses as the price of US crude oil dropped 3.2%. Disappointing earnings from Kohl’s sent its stock down 19.5% and sent other retailer stocks into a skid. A 5.4% slide in Home Depot’s stock weighed on the Dow Jones Industrial Average, which ended lower a day after inching to a record high.

"It's almost a carbon copy of yesterday," Jeff Zipper, managing director at US Bank Private Wealth Management tells the AP. "The S&P basically flat, the Nasdaq obviously up. Right now, the markets, as we go toward year end, their path of least resistance is up." The S&P 500 index slipped 1.85 points, or less than 0.1%, to 3,120.18. The Dow fell 102.20 points, or 0.4%, to 27,934.02. The Nasdaq climbed 20.72 points, or 0.2%, to 8,570.66. Bond prices rose, sending bond yields lower. The yield on the 10-year Treasury fell to 1.79% from 1.80% late Monday.

(Read more Dow Jones stories.)

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