Stocks tick higher – Here’s what you need to know…

Original Link | RockwellTrading by Markus Heitkoetter

Stocks kicked off the short trading week with small gains. But it was a slow one.

The S&P traded in a small 4-point range for most of the day before finishing higher.

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Here’s where the major indices ended the day:

• The S&P finished 0.1% higher. Up 3 points, the S&P ended at 2,582.
• The DOW ended with a 0.3% gain. Adding 72 points, the DOW closed at 23,430.
• The NASDAQ was up 0.1%. With an 8 point gain, the NASDAQ finished at 6,791.

Crude Oil (CL) finished the day with a loss. Down 0.5%, CL ended at $56.44 a barrel.

Although the major indices were quiet, there was plenty going on…

The DOJ is suing to prevent the AT&T (T) and Time Warner (TWX) deal. And Verizon (VZ) is close to announcing a deal with the NFL involving digital streaming. Bitcoin also made headlines after rallying to new highs, surging past the $8,000 mark.

Fed Chair Janet Yellen announced she will step down in February. Yellen had the option to stay on the Board of Governors but has decided to step down with the swearing in of Jerome Powell.

This upcoming week will be short with markets closed for Thanksgiving on Thursday. Although exchanges are open Friday, they close early. Trading is typically quiet on Friday with most big traders taking the day off to enjoy a 4-day weekend.

Looking at the economic calendar tomorrow we have Existing Home Sales at 10:00am ET and Fed Chair Yellen Speaks at 6:00pm ET. We also have a handful of earnings reports including Lowes (LOW) before the bell.

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