STOCKS DIP: Here's what you need to know

Stocks opened lower and continued trickling down over the course of the day.

All three major indices finished in the red to varying degrees.

First up, the scoreboard:

  • Dow: 19,907.75, -34.21, (-0.17%)
  • S&P 500: 2,259.37, -5.82, (-0.26%)
  • Nasdaq: 5,443.65, -27.87, (-0.51%)
  • US 10-year yield: 2.552%, +0.008

1. Trump is reportedly considering a 5% tariff on all imports, according to a report by John King at CNN. Future chief of staff Reince Priebus has talked about the 5% tariff with multiple business leaders and lawmakers and Wilbur Ross, Trump’s commerce secretary pick, is getting ready to defend the move during confirmation hearings.

2. The US economy was stronger than previously thought in the third quarter. The US economy grew by 3.5% in the third quarter, stronger than previously reported, according to the Department of Commerce’s third estimate released on Thursday. It was the fastest pace in two years.

3. It hasn’t been this hard to buy a house in America since the financial crisis. Housing affordability in the US is at an eight-year low, according to Attom Data Solutions.

4. Oprah says she lost 40 pounds on Weight Watchers and the stock soared. Weight Watchers rolled out a new ad campaign featuring claims that media mogul Oprah Winfrey lost 40 pounds on the system. The stock jumped about 11% in pre-market trading after the announcement.

5. Durable goods orders fell less than expected. Orders for things built to last such as appliances fell 4.6% (-4.8% forecast), according to the Commerce Department.

6. Initial jobless claims jumped more than expected. Claims, which count people applying for unemployment insurance for the first time, rose by 21,000 to 275,000, above economists’ forecasts of an uptick to 256,000.


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