Stocks end week lower despite Friday bounceback For the week, the S&P 500 is ending lower and below the psychologically important 2,900 level, though gains yesterday and more so today have brought the index considerably back from the worst levels seen Wednesday when the bond market sent a signal that has previously been a recession indicator. Today's strength came after Nvidia (NVDA) beat expectations and following President Trump's report last night that he has a call scheduled "very soon" with China's President Xi. ECONOMIC EVENTS: In the U.S., housing starts dropped 4.0% to a 1.19M rate in July, falling to their lowest pace since February. On a more encouraging note, building permits climbed 8.4% to a 1.34M rate. Consumer sentiment dropped 6.3 points a 7-month low of 92.1 in the preliminary reading from the University of Michigan for August. TOP NEWS: Nvidia reported better than expected earnings and revenue for its second quarter and guided to a "better than feared" October quarter, sending its shares up more than 7%. The results also gave a boost to the chip sector broadly, as AMD (AMD) gained over 5% and Micron (MU) rose 3%. Deere (DE) shares gained 3.8% after the farm equipment maker reported lower than expected quarterly profits but backed its 5% revenue growth forecast for FY19. Q3 results "reflected the high degree of uncertainty that continues to overshadow the agricultural sector," said Deere CEO Samuel Allen, who added that "concerns about export-market access, near-term demand for commodities such as soybeans, and overall crop conditions, have caused many farmers to postpone major equipment purchases." Shares of General Electric (GE) regained much of yesterday's losses, rising 9.7% after the company issued a response to what it called "meritless" allegations made in a report by Harry Markopolos. Also, General Electric disclosed last night that its CEO Lawrence Culp bought over 252,000 shares of common stock on August 15. Further, Andrew Left's Citron Research weighed in, stating that "what we have just witnessed with Mr. Markopolos is reckless, dishonest, and most importantly secretive" and disclosing that it bought shares of GE yesterday. GE shares dropped 11% yesterday following the fraud allegations made by Markopolos. MAJOR MOVERS: Among the notable gainers was PagSeguro Digital (PAGS), which rose 10.8% after reporting its quarterly results. Also higher was CyrusOne (CONE), which gained 8.2% after Bloomberg reported that the company is considering a potential sale after receiving takeover interest from several suitors Among the noteworthy losers was Alliance Data Systems (ADS), which slid 9.1% after Deutsche Bank analyst Ashish Sabadra downgraded the stock to Hold from Buy. Also lower were shares of Palo Alto Networks (PANW), which fell 7.1% after The Information's Kevin McLaughlin reported that a company spokesperson confirmed that Dave Peranich, executive vice president of worldwide sales, is leaving the company. INDEXES: The Dow rose 306.62, or 1.20%, to 25,886.01, the Nasdaq gained 129.38, or 1.67%, to 7,895.99, and the S&P 500 advanced 41.08, or 1.44%, to 2,888.68. Symbols: $NVDA $GE $DE $AMD $MU $ADS $PANW $CONE $PAGSSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.