Pullback day for the market fresh off all time highs, traders used today to collect some profits, with major indices slumping. $ES roll flat while $NQ trades slightly in the green after Amazon launch pharmacy business
- S&P 500: -0.33%
- Nasdaq: 0.08%
- Dow Jones: -0.64%
Value stock sore amid possible vaccine news. “Value and smaller companies typically have more leverage to economic recoveries so a vaccine that would remove the weight of COVID-19 off the economy is a distinct positive,” wrote Bill Stone, chief investment officer at Stone Investment Partners. “Time will tell if this reversal in trends proves durable or starts “makin’ the tears rain down like a monsoon” for value proponents like the many recent false starts.”
Sentiment also took a hit after data showed retail sales increased less than expected in October. Retail sales rose 0.3% last month, versus a 0.5% gain expected by economists polled by Dow Jones.
Oil and Gas News Today
Volatile day for crude oil prices, with energy equities out pacing gains in the futures price, with crude oil prices trading at $41.48 deep into the midday session. Natural gas prices show little upside as sharp losses of the last few days turn slightly better, even with the futures contract down 0.5% to $2.682
North American Shale News
- Kimmeridge goes nuclear on $OVV, $PDCE and $XEC
- Gulfport Chapter 11 update
- EIA crude oil production outlook
International
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