Stocks Mostly Snap 4-Day Losing Streak Ahead Of FOMC Minutes

Michael Teague  |

In the absence of economic data, stocks mostly rebounded on the tension ahead of Wednesday’s release of the minutes from the FOMC’s July meeting, snapping a worrisome four-day losing streak that was the longest so far in 2013.

The Standard & Poor’s 500 index ended the day 0.38 percent higher at 1,652.35 points, while the Dow Jones Industrial Average closed 0.05 percent lower to 15,002.99 , while the NASDAQ finished off at3,613.59 points, an advance of 0.68 percent.

Retail stocks were the story of the day as Best Buy (BBY) released an impressive earnings report that sent the stock up over 13 percent to end the day at $34.78. Shares have advanced over 160 percent year-to-date, making the company one of the most successful turnaround stories of the year.

Meanwhile, (AMZN) also edged up slightly,  0.68 percent, on news that the online retailer is preparing for yet another massive expansion of its shipping centers throughout the US. The TJX Companies (TJX) , operator of T.J. Maxx and Marshalls, saw shares up 7 percent to $54.30 after releasing its own impressive earnings report. Trendy clothing retailer Urban Outfitters (URBN) also ended the day up over 8 percent on earnings.

Services stocks dominated the S&P 500 overall, with the above-mentioned companies being joined by the likes of Netflix (NFLX) , Gannett Co. (GCI) , and Ross Stores Inc. (ROST) . J.C. Penney (JCP) was also up nearly 6 percent, after releasing yet another abysmal earnings report that all the same included promising comparable-store sales figures.

The Dow ended lower, with half of its components in the red, with the biggest loss posted by Home Depot Inc. (HD) despite releasing its own impressive earnings report. Intel Corporation (INTC) and Unitedhealth Group Inc. (UNH) were the index’s biggest gainers.

Tech shares lifted the NASDAQ higher, with Facebook (FB) trading higher BlackBerry (BBRY) on heavy volume. Wireless company RigNet Inc. (RNET) jumped almost 19 percent to $33.63 after the announcement that global investment firm Kohlberg Kravis Roberts & Co. LP announced a significant minority interest in the firm.



DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
UNH UnitedHealth Group Incorporated (DE) 285.48 1.87 0.66 3,599,255 Trade
FB Facebook Inc. 194.11 -2.64 -1.34 18,806,020 Trade
INTC Intel Corporation 57.79 0.24 0.42 22,795,852 Trade
TJX TJX Companies Inc. (The) 60.37 -0.49 -0.81 3,525,511 Trade
ROST Ross Stores Inc. 115.49 -0.96 -0.82 1,319,210 Trade
URBN Urban Outfitters Inc. 26.75 -0.63 -2.30 1,775,360 Trade
BBY Best Buy Co. Inc. 84.79 -0.56 -0.66 2,646,051 Trade
RNET RigNet Inc. 5.48 -0.03 -0.54 34,293 Trade
NFLX Netflix Inc. 298.50 0.06 0.02 3,883,069 Trade
BBRY BB BlackBerry Limited n/a n/a n/a n/a
JCP J.C. Penney Company Inc. 1.11 -0.02 -1.77 4,981,349 Trade
GCI Gannett Co. Inc. 6.00 -0.07 -1.15 2,088,633 Trade
AMZN Inc. 1,760.94 0.61 0.03 2,747,909 Trade
HD Home Depot Inc. (The) 214.08 2.04 0.96 6,870,348 Trade



Symbol Last Price Change % Change





















World Economic Forum at Davos 2019 - Ben Yablon Executive VP Salt Lending

Matt Bird sits down with Ben Yablon - Executive VP of Salt Lending - at the World Economic Forum in Davos January 2019