The Dow Jones Industrial Average's winning streak continued with the index closing higher for the 18th time in 22 sessions and clinching a record settlement for the third day in a row. The S&P also scored a record. Fitbit (FIT) moved slightly higher after announcing the acquisition of IP and personnel assets of smartwatch developer Pebble. The purchase should help the fitness tracker company ramp up development of third-party apps for its products. Credit Suisse (CS) climbed after announcing job cuts intended to cut costs. The bank will eliminate 6,000 positions, resulting in more than 1 billion Swiss francs in savings. Mylan (MYL) slumped alongside other health care stocks after disclosing restructuring plans. The drugmaker aims to streamline operations at global facilities, resulting in cuts to less than 10% of its total workforce.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.