Midday Update: Stocks Advance Monday After Friday's Record Closing Highs for S&P 500, Nasdaq

Monday, November 4, 2019 12:31 PM | MT Newswires

Stocks were climbing at midday, adding on to the gains from Friday after a favorable jobs report and trade optimism helped send the S&P 500 and Nasdaq Composite Index to record closing highs.

The Dow Jones Industrial Average was up 0.4%, while the S&P 500 also climbed 0.4%. The Nasdaq Composite Index added 0.5%.

The Dow advanced despite losses in shares of McDonald's (MCD), which fell 2.7% after the company said on Sunday that CEO Steve Easterbrook was fired for violating company policy by having a relationship with an employee. He was replaced by Chris Kempczinski, the president of the company's US operations.

Shares of energy companies led the S&P 500 higher, climbing 3% as a group as oil prices jumped.

On Friday the Labor Department said that the US economy added 128,000 nonfarm jobs in October compared with the consensus estimate of 90,000, according to Econoday. The better-than-expected payrolls number helped send the market higher to close out the week with solid gains.

In commodities, West Texas Intermediate crude oil futures rose 1.6% to $57.10 per barrel. Natural gas was up 3.5% to $2.81 per 1 million BTU. Gold futures were down 0.3% to $1,507.50 an ounce, while silver was down 0.4% to $17.99 an ounce.

Among energy ETFs, the United States Oil Fund was up 1.9% to $11.91 while the United States Natural Gas Fund was up 4% to $22.23. Among precious-metal funds, the Vectors Gold Miners ETF was down 1.5% to $27.59 while SPDR Gold Shares were down 0.4% to $141.98. The iShares Silver Trust fell 0.5% to $16.83.

Here's where the markets stood at midday:


NYSE Composite Index was up 67.33 points (+0.5%) to 13,367.60

Dow Jones Industrial Average was up 109.32 points (+0.4%) to 27,456.68

S&P 500 was up 13.35 points (+0.4%) to 3,080.26

Nasdaq Composite Index was up 43.29 points (+0.5%) to 8,429.69


FTSE 100 was up 67.27 points (+0.9%) to 7,369.69

DAX was up 175.23 points (+1.4%) to 13,136.28

CAC 40 was up 62.41 points (+1.1%) to 5,824.30

Nikkei 225 market was closed

Hang Seng Index was up 446.54 points (+1.7%) to 27,547.30

Shanghai China Composite Index was up 17.29 points (+0.6%) to 2,975.49


NYSE Energy Sector Index was up 235.37 points (+2.4%) to 9,871.62

NYSE Financial Sector Index was up 40.99 points (+0.5%) to 8,422.57

NYSE Healthcare Sector Index was up 2.84 points (+0.02%) to 16,726.35


(+) WMGI (+32%) Agrees to $30.75/share takeover by Stryker

(+) RACE (+6%) Tops Q3 estimates

(+) USM (+13%) JPMorgan upgrades shares to overweight from neutral


(-) AVEO (-36%) FDA recommends that the company not submit an NDA for oncology candidate tivozanib at this time

(-) VEON (-3.6%) Misses Q3 estimates

(-) NSP (-34%) Q3 adjusted EPS misses Street view, guides Q4 below expectations

Share this article:

Upgrade to Premium and Analyze Stocks Like a Pro

40% Off All Subscriptions
InvestorsObserver Premium
InvestorsObserver Premium
InvestorsObserver Premium
Save up to 57% with annual

InvestorsObserver Premium

$ 20.75 $ 12.45 /month
$249 $149.40 billed annually

You May Also Like

Related Articles

European ADRs Move Higher in Wednesday Trading

Is Price of VERO Stock Justified by its Earnings?

TSX up 73 Points, Boosted by Miners

Does Smith & Wesson Brands Inc (SWBI) Stock Beat its Rivals in Aerospace & Defense?

How Does Livongo Health Inc (LVGO) Stock Compare to Others in Medical Devices?