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4:42pm ET, 11/15/2019 - Close Update: Dow Closes Above 28,000 for First Time as Stock Indexes Hit Record Closing Highs
Major stock market indexes closed at record highs Friday as positive retail sales data and optimism for a US-China trade deal boosted stocks and sent the Dow Jones Industrial Average to a close above 28,000 for the first time.

The Dow rose 0.8%, while the S&P 500 added 0.8%. The Nasdaq Composite Index gained 0.7%.

In economic news, US retail sales rose in October by 0.3% following a 0.3% slide in the previous month and beating the consensus estimate calling for a gain of 0.2%, according to Econoday.

Investors were also encouraged by comments from White House economic adviser Larry Kudlow, who said late on Thursday that a partial trade agreement with China was close to being signed, according to media reports.

For the week, the Dow climbed 1.2% while the S&P 500 rose 0.9%. The Nasdaq added 0.8%.

US MARKETS

Dow Jones Industrial Average was up 222.93 points (+0.8%) to 28,004.89

S&P 500 was up 23.83 points (+0.8%) to 3,120.46

Nasdaq Composite Index was up 61.81 points (+0.7%) to 8,540.83

GLOBAL SENTIMENT

FTSE 100 was up 10.18 points (+0.14%) to 7,302.94

DAX was up 61.52 points (+0.47%) to 13,241.75

CAC 40 was up 38.19 points (+0.65%) to 5,939.27

Nikkei was up 161.77 points (+0.70%) to 23,303.32

Hang Seng Index was up 2.97 points (+0.01%) to 26,326.66

Shanghai Composite was down 18.53 points (-0.64%) to 2,891.34

UPSIDE MOVERS

(+) KERN (+56%) Q3 sales surged 39% from a year ago

(+) FTCH (+29%) Q3 results beat the Street's views

(+) MTC (+24%) Set to join S&P SmallCap 600

DOWNSIDE MOVERS

(-) TORC (-86%) Trial of RTB101 in respiratory illness fails to meet the primary endpoint

(-) ANCN (-18%) Loss widens in the third quarter from a year earlier

(-) ACY (-26%) Net loss expands in the third quarter as well as over the past nine months

3:44pm ET, 11/15/2019 - Stock Indexes Set to Close at Record Highs as Retail Sales Data, Trade Optimism Boosts Market
Major stock market indexes were poised to close at record highs Friday as positive retail sales data and optimism for a US-China trade deal boosted stocks.

The Dow Jones Industrial Average was up 0.6%, the S&P 500 was up 0.5% while the Nasdaq Composite Index was up 0.5%.

1:30pm ET, 11/15/2019 - Midday Report: US Stocks Touch Record Highs as Trump's Economic Adviser Larry Kudlow Injects Optimism Into Trade Talks
US stocks rose, led by health care and energy, after White House economic adviser Larry Kudlow said late on Thursday that a partial trade agreement with China was close to being signed, potentially ending the phase-one of a process that began 16 months ago.

The Dow Jones Industrial Average rose by 143.82 points intraday, or 0.52%, with S&P 500 and Nasdaq climbing by 0.56% and 0.62%, respectively. Health care, energy and industrials were among the biggest gainers, with all three mainstream indexes touching record highs after midday on Friday.

West Texas Intermediate futures jumped by almost 2% to $57.81 even as the International Energy Agency raised supply concerns, saying producers from outside the Organization of Petroleum Exporting Countries are expected to lift output by 2.3 million barrels per day in 2020, while leaving its demand growth forecast unchanged at 1.2 million barrels per day.

The US 10-year yields rose by 1.7 basis points to 1.83%, with the dollar appreciating by 0.4% against the Japanese yen and gold down by almost $6 per ounce.

Kudlow said the agreement between the US and China was approaching given the constructive negotiations with trade officials in Beijing. He cautioned the market, however, saying President Donald Trump "likes what he sees, he's not ready to make a commitment, he hasn't signed off on a commitment for phase one, we have no agreement just yet for phase one," according to a report from the Wall Street Journal.

The Commerce Secretary told Fox Business: "We are down to the last details now."

US retail sales growth rose in October by 0.3% following a 0.3% slide in the previous month, beating guidance. Meanwhile, the Federal Reserve said in a report Friday that the 0.8% fall in October was the steepest slump since May 2018, declining more than the market had anticipated.

In corporate news, Applied Materials' (AMAT) adjusted EPS outpaced analysts' estimates and revenue also beat the forecast, pushing shares to the top-performing in the S&P 500 and Nasdaq indexes. Nvidia (NVDA), the US designer and developer of three-dimensional graphics processors, reported late on Thursday fiscal third-quarter earnings and sales that fell from a year ago. Shares led decliners on the Nasdaq.

Crude was up $1.08 to $57.85 per barrel. Natural gas was up $0.05 to $2.70 per 1 million BTU. Gold was down $5.70 to $1,467.70 an ounce, and silver down $0.06 to $16.97 an ounce. Copper was up $0.01 to $2.64 per pound.

Among energy ETFs, the United States Oil Fund was up 1.60% to $12.10 with the United States Natural Gas Fund was up 2.22% to $21.30. Among precious-metal funds, the Market Vectors Gold Miners ETF was up 0.09% to $26.95 while SPDR Gold Shares were down 0.23% to $138.24. The iShares Silver Trust was down 0.09% to $15.89.

Here's where the markets stood at midday:

US MARKETS

NYSE Composite Index was up 80.73 points (+0.60%) to 13,472.72

Dow Jones Industrial Index was up 155.44 points (+0.56%) to 27,937.36

S&P 500 was up 17.98 point (+0.58%) at 3,114.70

Nasdaq Composite Index was up 50.87 points (+0.60%) to 8,529.81

GLOBAL SENTIMENT

FTSE 100 was up 10.18 points (+0.14%) to 7,302.94

DAX was up 61.52 points (+0.47%) to 13,241.75

CAC 40 was up 38.20 points (+0.65%) to 5,939.27

Nikkei was up 161.77 points (+0.70%) to 23,303.32

HSI was up 2.97 points (+0.01%) to 26,326.66

Shanghai Composite was down 18.53 points (-0.64%) to 2,891.34

NYSE SECTOR INDICES

NYSE Energy Sector Index was up 90.11 points (+0.94%) to 9,740.54

NYSE Financial Sector Index was up 34.27 points (+0.41%) to 8,442.99

NYSE Healthcare Sector Index was up 178.06 points (+1.06%) to 17,003.75

UPSIDE MOVERS

(+) KERN (+60.19%) Third-quarter sales surged 39% from a year ago

(+) FTCH (+28.61%) Third-quarter results beat the Street's views

(+) MTC (+22.63%) Set to join S&P SmallCap 600

DOWNSIDE MOVERS

(-) TORC (-86.54%) Trial of RTB101 in respiratory illness fails to meet the primary endpoint

(-) ANCN (-36.05%) Loss widens in the third quarter from a year earlier

(-) ACY (-26.96%) Net loss expands in the third quarter as well as over the past nine months

12:45pm ET, 11/15/2019 - European Equity Benchmarks Close Higher; Euro Area Inflation Dips to 0.7% in October
The broad-based major European indices closed higher in Friday trading led by mining and automotive stocks.

In economic news, the euro area annual inflation rate was 0.7% in October, down from 0.8% in September, according to Eurostat, the statistical office of the European Union. A year earlier, the rate was 2.3%. European Union annual inflation was 1.1% in October, down from 1.2% in September, and 2.3% a year earlier.

The lowest annual rates were in Cyprus (-0.5%), Greece (-0.3%), and Portugal (-0.1%), while the highest annual rates were in Romania (3.2%), Hungary (3.0%), and Slovakia (2.9%). Compared with September, annual inflation fell in 15 member states, rose in five, and remained unchanged in eight.

The highest contribution to the annual euro area inflation in October rate came from services, followed by food, alcohol and tobacco, non-energy industrial goods, and energy.

Eurostat also reported that the first estimate for euro area (EA19) exports of goods to the rest of the world in September 2019 was EUR196.2 billion ($216.8 billion), a 5.2% increase compared with September 2018 (EUR186.5 billion). Imports from the rest of the world was EUR177.6 billion, a 2.1% rise compared with September 2018 (EUR173.9 billion).

As a result, the euro area recorded a EUR18.7 billion surplus in trade in goods with the rest of the world in September, compared with +EUR12.6 billion in September 2018. Intra-euro area trade rose to EUR163.4 billion in September, up 0.9% compared with September 2018.

The first estimate for extra-EU28 exports of goods in September was EUR168.3 billion, up 4.3% from September 2018 (EUR161.3 billion). Imports from the rest of the world stood at EUR173.3 billion, up 6.4% from September 2018 (EUR162.8 billion). As a result, the EU28 recorded a EUR5.0 billion deficit in trade in goods with the rest of the world in September, compared with EUR1.5 billion in September 2018. Intra-EU28 trade rose to EUR301.0 billion in September, +2.3% compared with September 2018.

In Germany, industrial enterprises with 20 or more people employed invested EUR68.4 billion in tangible fixed assets in 2018, according to the Federal Statistical Office (Destatis). The volume of investments rose by approximately EUR4.7 billion, or 7.5%, compared with 2017.

Destatis also reported that 5.7 million people worked in local units of manufacturing with 50 or more people employed in Germany at the end of September, which was a rise of about 12,000 or 0.2% compared with September 2018. The number of hours worked in September increased 1.5% from a year earlier, reaching 709 million. The earnings totaled EUR23.5 billion, which was 2.7% more than in September 2018.

In France, the number of business births for all enterprises rose 1.0% in October after increasing 4.5% in September, seasonally and working-day adjusted, according to the Institute for Statistics and Economic Studies (INSEE). Conventional businesses start-ups increased 2.3% after rising 2.1% the previous month, while micro-entrepreneurs' registrations edged 0.4% lower after a 7.3% rise in September.

The raw number of business start-ups rose 15.7% during the last 12 months as all the types of business start-ups increased: micro-entrepreneurs' registrations (+23.3%), conventional sole proprietorship start-ups (+11.5%) and company births (+8.1%).

And in Italy, the Italian consumer price index for the whole nation (NIC) decreased 01% in October on a monthly basis, and increased 0.2% on annual basis, from 0.3% September 2019, according to the Italian National Institute of Statistics (Istat). The flash estimate was +0.3%.

The slowdown of the growth on annual basis was mainly due to the widening of the decrease of prices of Regulated energy products to -8.0% from -5.3%, which was partially offset by the acceleration of prices of services related to transport to +1.8% from +0.4%. The core inflation excluding energy and unprocessed food and inflation excluding energy was +0.7%, up from +0.6% for both the previous month.

In equities, hospitality company Whitbread, and health care company NMC Health led the FTSE higher in London climbing 4.8% and 3.4% respectively, followed by airline operator International Consolidated Airlines Group, which rose 2.8%. Mining stocks also helped buoy the market as Antofagasta was up 2.4%, while Evraz and Glencore each closed 1.9% higher.

In Frankfurt, construction materials supplier HeidelbergCement, and automaker Volkswagen led the DAX into positive territory rising 2.7% and 2% respectively, followed by pharmaceutical firm Merck, and automaker BMW, which climbed 1.7% and 1.6%. Tire maker Continental was up 1.3%, while semiconductor company Infineon, and airline operator Lufthansa each closed 1.1% higher.

And in Paris, steel and mining company ArcelorMittal, and construction materials supplier Saint-Gobain led the CAC higher climbing 2.5% and 2.2% respectively, followed by pharmaceutical company Sanofi, and hotel operator Accor, which each closed 1.7% higher. Luxury goods company Kering, and industrial gases company Air Liquide each rose 1.6%, while telecommunications operator Orange gained 1.4%.

The FTSE rose 0.14%, the DAX closed 0.47% higher, and the CAC-40 climbed 0.65%.

Price: 27.79, Change: +0.14, Percent Change: +0.49

12:16pm ET, 11/15/2019 - US Stocks Touch Record Highs as Trump's Economic Adviser Larry Kudlow Injects Optimism Into Trade Talks
US stocks rose, led by health care and energy, after White House economic adviser Larry Kudlow said late on Thursday that a partial trade agreement with China was close to being signed, potentially ending the phase-one of a process that began 16 months ago.

The Dow Jones Industrial Average rose by 143.82 points intraday, or 0.52%, with S&P 500 and Nasdaq climbing by 0.56% and 0.62%, respectively. Health care, energy, and industrials were among the biggest gainers, with all three mainstream indexes touching record highs.

The US 10-year yields rose by 1.7 basis points to 1.83%, with the dollar appreciating by 0.4% against the Japanese yen and gold down by almost $8 per ounce.