Stocks moved cautiously higher as investors waited for direction from a number of market-churning events tomorrow. Top of that list is former FBI director James Comey's public testimony. He will testify on the investigation into the Trump campaign's alleged ties with Russia. Losses in crude oil picked up speed after a surprise increase in domestic crude stockpiles. Inventories rose for the first time in nine weeks, surprising analysts looking for a decrease. Novavax (NVAX) increased following positive results from a vaccine trial. The mid-stage clinical trial was for a maternal vaccination to prevent babies from suffering severe lower respiratory tract infections. Ambarella (AMBA) fell after issuing a disappointing forecast. The camera parts maker estimates current-quarter sales no higher than $72 million, missing consensus.
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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.