S&P unchanged. Nasdaq up. Down down
The major US indices are ending the day with mixed results and little changed
- The S&P is ending down -0.20 points or -0.01%. Call it unchanged
- The Nasdaq is ending up 14 points or +0.21% at 6776.375
- The Dow is ending down -38 points or -0.16% at 24142.29
The biggest winner of the Dow was Microsoft (up 1.46%), while the biggest loser was Merck (-2.55%).
Banks stocks were lower:
- JP Morgan fell -0.75%
- Citigroup fell -1.44%. Citigroup CFO said sees large decline in 4Q markets revenues. Sees $20B hit to earnings from tax changes and to pay repatrician tax from the lower corporate tax. The tax to repatriot funds back to the US will be a theme for a lot of companies in the short term, but on the positive they will have a larger stash of funds that have been parked overseas to invest, buyback stock, pay dividends.
The FANG stocks
- Facebook rose 1.87%
- Amazon rose 0.94%
- Netflix rose by 0.59%
- Google (Alphabet) rose 1.32%