FYI: U.S. stocks broke off their record pace Tuesday after a round of weak earnings reports from retailers.
The Dow Jones Industrial Average fell 102 points, or 0.37%, to 279933. The S&P 500 dropped 0.06%, and the Nasdaq Composite gained 0..24%. All three indexes closed at records Monday.
Shares of retailers were among the biggest decliners in Tuesday’s session as the group began reporting third-quarter results. Dow component Home Depot shares fell 5.2% after the retailer trimmed its expectations for sales growth. Shares of Kohl’s dropped 18% after it lowered its profit guidance for the year. That is its worst one-day drop since January 2017.
The disappointing outlook from both companies weighed on the stocks of other U.S. retailers, as investors grew concerned about the health of a sector that has been strong so far this year. Macy’s, which is scheduled to report earnings later in the week, fell 9.9%, while Nordstrom declined 5%. Gap slumped 3.2%.
Meanwhile, discount retailer TJX rose 2.2% after its earnings report showed a strong rise in sales.
Traders also had an eye on Washington.
Even though the main focus in the capital was the ongoing impeachment hearings, traders said they were also concerned about a bill in the Senate in support of Hong Kong protestors, and how it might affect the ongoing negotiations over a U.S.-China trade deal. The bill, if passed, would allow for sanctions against anyone found violating Hong Kong’s autonomy.
The yield on the U.S. 10-year Treasurys slipped to 1.783%, from 1.808% on Monday. In commodities, U.S. crude futures fell 2.5% on concerns about excess oil supplies.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-11-19/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/dow-seen-opening-higher-despite-doubts-about-china-trade-deal-home-depot-outlook-2019-11-19/printWSJ:
https://www.wsj.com/articles/global-stocks-edge-higher-as-investors-see-fewer-risks-11574159706Bloomberg:
https://www.bloomberg.com/news/articles/2019-11-18/asia-stocks-set-for-muted-open-treasuries-advance-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-backs-off-28000-after-home-depot-sell-off-broadcom-amd-lead-nasdaq-100/CNBC:
https://www.cnbc.com/2019/11/19/dow-futures-uncertainty-over-us-china-trade-deal.htmlReuters:
https://uk.reuters.com/article/us-usa-stocks/sp-500-dow-retreat-from-record-highs-on-home-depots-dull-forecast-idUKKBN1XT1P0U.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-up-for-third-day-on-china-stimulus-hopes-halma-jump-idUKKBN1XT0YBEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-take-a-breather-ease-off-four-year-peak-idUSKBN1XT17PAsia:
https://www.cnbc.com/2019/11/19/asia-markets-november-19-us-china-trade-oil-currencies.htmlBonds:
https://www.cnbc.com/2019/11/19/us-bonds-wall-street-in-focus-as-us-china-trade-deal-doubts-persist.htmlCurrencies:
https://www.cnbc.com/2019/11/15/forex-markets-us-china-trade-deal-in-focus.htmlOil
https://www.cnbc.com/2019/11/19/oil-markets-us-china-trade-talks-in-focus.htmlGold:
https://www.cnbc.com/2019/11/19/gold-markets-china-us-trade-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
