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Dow hits new high as stocks swing from losses to gains

Stocks swinging from gains to losses today as the Dow ekes out another all-time high. Catch The Final Round at 4 p.m. ET with Jen Rogers and markets reporter Myles Udland.

Winners and losers

Stocks getting hit today include Teva Pharmaceuticals as the head of its global generics business unexpectedly stepped down; Nike as Cowen downgraded the stock, citing competition from Adidas and Under Armour; and Chipotle, with shares getting fried after Co-CEO Steve Ells said at a conference that he was “nervous” about hitting year-end guidance.

Stocks getting a lift include GoDaddy as the domain name company will buy internet services firm Host Europe for $641 million; Netflix as Evercore upgraded shares claiming competition hasn’t gained much traction as initially feared; and AMD, with shares of the chip maker surging after it struck a deal with Mentor Graphics to strengthen its position the embedded chip market.

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Looking ahead

  • At 10 a.m. Eastern we’ll get the Job Openings and Labor Turnover Survey, or JOLTS report, for October. In the prior month we saw 5.486 million job openings.

  • At 10:30 a.m., we will get fresh data for the improving oil trade with the EIA’s crude inventory report. Last week saw inventories dip an unexpected 900,000 barrels.

  • Finally, tomorrow Time Magazine will unveil it’s person of the year, recognizing the person who has most influenced the world, for better or worse. Finalists include gymnast Simone Biles, Hillary Clinton, Russian President Vladimir Putin, Facebook’s Mark Zuckerberg and President-elect Donald Trump.