US stocks close higher
TSX finsishes lower
Geneal Electric slumps; Alibaba down
Wall Street stocks were still higher at the close with the Dow Jones adding over 17 points to finish at 23,439.
The S&P 500 is up 2.55 at 2,584 and the Nasdaq is 6.66 ahead at 6.757.
The TSX in Toronto closed down around 11 points at 16,028.
Traders remained scared to take on equity risk amid continuing concerns surrounding the US Republican tax legislation.
Alibaba Group Holding Inc (NASDAQ:BABA) lost 1% to US$184.54 as it emerged the Chinese e-commerce titan had beat records on the 11/11 Singles Day this year.
Singles Day 2017, or the 11/11 Global Shopping Festival, surpassed last year’s total and the final tally reportedly as of midnight in Beijing (11 am Eastern Time) was over US $25.3 billion - a whopping 39% rise from the 2016 event’s sales total, according to the company.
MID-SESSION
Wall Street shares went positive at mid-session as several big stocks put in shares gains to counter the General Electric (NYSE:GE) sell-off.
The Dow Jones added nearly 25 points at 23,447, while the broader S&P 500 gained 2,584.
The tech heavy Nasdaq added over seven points to stand at 6,757.
In Toronto, the TSX was down though over 14 points to stand at 16,025.
Shares in airline Boeing Co (NYSE:BA) added 0.47%. Home Depot Inc (NYSE:HD) shares nudged 1.16% up to US$ 166.02
GE was under pressure as it sought to deliver a raft of changes under new CEO John Flannery to revamp its 125-year-old business. Shares in New York shed 7.71% to US$18.91.
READ THE LONDON CLOSE - FTSE 100 closes lower as UK political uncertainty mounts
OPEN
Wall Street shares started in the red as the new week began.
The Dow Jones is off almost 20 points at 23,403, The broader based S&P 500 is off 3.52 to 2,578.
The tech heavy Nasdaq is down almost 13 at 6,738.
In Toronto, the TSX is down 24.40 points to stand at 16,014.
There is growing uncertainty in the US over proposed as reforms.
An early riser was Tyson Foods Inc (NYSE:TSN), which added 1,74% to US$75.44 as it posted fourth quarter results, which beat Wall Street’s expectations.
In a statement, the company said net income for the quarter came in at US$394.0mln, or US$1.07 per share, up from US$391.0mln, or US$1.03 per share, for the same period last year.
Adjusted EPS stood at US$1.43, soundly outperforming the US$1.35 expected by analysts.
Toy giant Mattel (NYSE:MAT) added over 18% as it reportedly has received an offer to buy it from Hasbro Inc.
General Electric Co (NYSE:GE) tanked 3.07% to US$19.86 after it made a decision to slash its quarterly dividend in half.
General Electric slashes dividend by half as CEO tries to reset the path for the ailing conglomerate https://t.co/H96jyfxwHv pic.twitter.com/eJQMa4wKIt
— Forbes (@Forbes) 13 November 2017