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Daily Tipple
[Wednesday, September 4, 2019]

Wed, Sep 4th, 2019

Markets staged a rebound from yesterday’s decline with investors bidding shares higher throughout the day. In global news the U.K. Parliament blocked a no-deal Brexit and Hong Kong’s Carrie Lam moved to withdraw a controversial extradition bill in an attempt to quell social unrest. There was no news on the trade front but several companies, including Starbucks and Tyson Foods delivered disappointing guidance. Regardless, stocks moved to settle near session highs. At the bell the S&P 500 was up +31.51 to 2,937.78, the Dow gained +237.45 to 26,355.47 and the Nasdaq Composite added better than a percent, up +102.72 to 7,976.88. The Russell 2000 was up +12.47 to 1,484.76. Major sectors were led by Communication Services, Energy and Industrials. Oil prices recovered to a modest loss after early weakness. Gold gained fractionally. The 10-Year Bond Yield slipped to 1.459% The VIX Index fell more than -11% to 17.33.

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