Market Recovers after a Brief Tumble to Finish Higher
The U.S. equity market finished higher after a brief tumble in mid-day trading that saw all three major indexes in red. The Dow Jones ended the day 0.35% higher at 11,146.57, the S&P 500 ended the day 0.18% higher at 1,180.26 and the Nasdaq ended the day 0.09% higher at 2,459.67.
Netflix Inc. (NASDAQ: NFLX) shares gained in today’s trading after the company reported its third-quarter financial results. Shares of the Los Gatos, California-based company finished the day 12.76% higher at $172.69.
eBay Inc. (NASDAQ: EBAY) shares also rallied today after the company reported its third-quarter financial results. Shares of eBay ended the day 5.98% higher at $27.19, touching a 52-week high of $28.44.
Wells Fargo & Company (NYSE: WFC) also reported its third-quarter financial results. The bank reported strong quarterly results. Shares of the San Francisco-based bank finished 1.68% higher at $26.03.
The Labor Department today reported that initial jobless claims for the week ended October 15 fell 23,000 to 452,000. Economists were expecting claims to fall to 455,000 for the week ended October 15.
Crude oil fell today as the U.S. dollar recovered. Crude oil for delivery in December dropped by $1.98 to settle at $80.56 a barrel on the New York Mercantile Exchange. Brent crude for delivery in December dropped to settle at $81.83 a barrel on the ICE Futures Europe exchange in London.
Gold also fell on the strengthening of the U.S. dollar. Gold futures for December delivery dropped $18.60 to settle at $1,325.60 an ounce on the Comex.
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