NEW YORK Stocks fellWednesday as the Dow dropped more than 100 points, putting more distance between the blue chipsand that elusive 20,000 mark.
Dow 20,000 has been in sight for several days now, with the index getting as close as a couple of dozen points from the milestone but never reaching it.
At the 4 p.m. ET close, the Dow stood0.6% lower for the day, off 111points and 166away from 20,000. Meanwhilethe Nasdaqsank 0.9% andthe S&P 500 lost0.8%.
The broad decline wiped out most of the gains from the day before, when the Nasdaq composite index closed at a record high.
Trading was quiet in a light week of economic and company news before the New Years Day holiday weekend.
Shares of luxury handbag maker Kate Spade (KATE) leaped 23.1%after news reports surfaced about a possible sale of the company.
Top Blue Chip Stocks For 2018: Compagnie Financiere Richemont SA (CFRHF)
- [By SEEKINGALPHA.COM]
That’s good news to the luxury goods sector – from Swiss watches to high fashion and expensive cognac – for which Chinese consumers make up around 30 percent of all global sales. In a note to investors, analysts at investment firm Exane BNP Paribas expects growth to continue to trend upwards during 2017, with Swatch Group (OTCPK:SWGAY), Richemont SA (OTCPK:CFRHF), and Burberry (OTCPK:BURBY) the companies most likely to gain.
Top Blue Chip Stocks For 2018: Cemex S.A.B. de C.V.(CX)
- [By Lisa Levin]
The industries that are driving the market today are:
Cement: This industry gained 3.4 percent by 2:30 pm. The top stock within the industry was Cemex SAB de CV (ADR) (NYSE: CX), which gained 4.7 percent. Cemex’s PEG ratio is 0.16. Computer Peripherals: This industry rose 2.6 percent by 2:30 pm ET. The top performer in this industry was Identiv Inc (NASDAQ: INVE), which gained 13.5 percent. Identiv shares have climbed 44.83 percent over the past 52 weeks, while the S&P 500 index has increased 8.61 percent in the same period. Internet Service Providers: The industry gained 2 percent by 2:30 pm. The top performer in this industry was TrueCar Inc (NASDAQ: TRUE) which gained 3.4 percent. TrueCar shares have jumped 60.90 percent over the past 52 weeks, while the S&P 500 index has increased 8.61 percent in the same period. Regional – Southwest Banks: This industry moved up 1.9 percent by 2:30 pm. The top performer in this industry was Veritex Holdings Inc (NASDAQ: VBTX), which rose 6.6 percent
- [By WWW.MONEYSHOW.COM]
Cemex SAB de CV (CX) is very interesting at these levels as it seems the market is pricing in a stronger dollar (thereby reducing revenue) and thus lower growth.
Top Blue Chip Stocks For 2018: Alphabet Inc.(GOOGL)
- [By Shudeep Chandrasekhar]
Microsoft (NSDQ:MSFT)and Alphabet Inc (NSDQ:GOOGL)are the two companies that burnt their fingers big time in trying to go the Apple way to become hardware+software companies, but by taking the acquisition route. As a result, both companies were forced to write off billions of dollars after their Nokia and Motorola acquisitions, respectively, did nothing to cement their respective positions in the smartphone world. But despite the setbacks, both the companies have been extremely reluctant to throw in the towel when it comes to hardware. So how will Microsoft’s journey here be? And why an investor of Microsoft stock should know about it. Here’s why.
- [By Jack Delaney]
Just a month earlier, Waymo, the self-driving car company of Alphabet Inc. (Nasdaq: GOOGL), announced in May it was partnering with Lyft to develop new autonomous vehicle technologies.
- [By WWW.THESTREET.COM]
For those who want a general facsimile of the pay-TV bundle and access to the largest broadcast networks, there’s Sling TV from Dish Network (DISH) , DirecTV Now from AT&T (T) and Sony’s (SNE) PlayStation Vue. In the coming weeks, they’ll be joined by Alphabet’s (GOOGL) YouTube TV and a still unnamed pay-TV service from Hulu, the video-on-demand service controlled jointly by Disney, Comcast’s (CMCSA) NBCUniversal and 21st Century Fox (FOXA) , along with Time Warner (TWX) holding a 10% stake.
Top Blue Chip Stocks For 2018: SBA Communications Corporation(SBAC)
- [By Paul R. La Monica]
And the infrastructure fund has stakes in cell phone tower owners Crown Castle (CCI) and SBA Communications (SBAC), as well as giant British gas and electric utility National Grid (NGG).
- [By Craig Jones]
On CNBC's "Fast Money Halftime Report", Jon Najarian shared with the viewers an options trading idea in SBA Communications Corporation (NASDAQ: SBAC). He noticed big call options volume in the name and he thinks it would be a good idea to get a long position.