Heinz-Peter Bader/Reuters
Saudi Arabia's Energy Minister Khalid al-Falih talks to journalists during a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016.
First, the scoreboard:
- Dow: 19,228.22, +11.98, (0.06%)
- S&P 500: 2,209.48, +4.77, (0.22%)
- Nasdaq: 5,326.71, +17.82, (0.34%)
- WTI crude oil: $50.93/bbl, -$0.86, (-1.7%)
- President-elect Donald Trump sold off all of his stock portfolio over the summer to avoid conflicts of interest in office, a spokesman said on a conference call with reporters. Trump's transition team did not provide documentation to confirm the sales, but said the sell-off was in June.
- The issue of Trump's investments came to light he called for the cancellation of a contract with the aircraft-maker Boeing for a new presidential airplane. After Trump said he would pull out of the Air Force One deal, Boeing's stock slid in trading.
- Masayoshi Son, the CEO of Japanese telecom SoftBank, announced that his company will be investing $50 billion and bringing 50,000 jobs to the US after a meeting with Trump. The investment would reportedly come from a $100 billion fund created in partnership with the Saudi Arabia sovereign wealth fund and other investors.
- Chipotle fell 7% after the company said it was nervous about hitting its guidance for the year. The burrito chain hurt by two E.coli outbreaks last year was presenting at a Barclays retail conference in New York.
- New orders for U.S. factory goods recorded their biggest increase in nearly one and a half years in October, further evidence that the manufacturing sector is gradually recovering after a prolonged downturn. Factory orders rose 2.7% after an upwardly revised 0.6% gain in September.
Additionally:
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Trump could force the Fed to raise rates faster than it wants to
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