Closing bell November 16

Flickr/Greg ScalesStocks climbed from a detrimental open up to erase the losses incurred last Friday at the conclude of the next-worst week of the calendar year for the market place. <br>Crude oil also reversed an early reduction that sent West Texas Intermediate futures to as reduced as $forty.06 for each barrel, finishing the session up three%.<br>1st, the scoreboard:<br><br>Dow: 17,483.01, +237.seventy seven, (one.38%)<br><br>S&P 500: two,053.19, +30.fifteen, (one.forty nine%)<br><br>Nasdaq: 4,984.62, +fifty six.73, (1.fifteen%)<br>And now, Monday's top rated stories:<br><br>Empire Condition production and small business activity are even now in the pits. The November index from the New York Federal Reserve remained detrimental at -ten.74, beneath economists' expectation for -6.35. It was a slight enhancement from Oct on the headline, but the aspects have been tiny improved. New orders, shipments, manufacturing small business ailments, and work all worsened. The 6-thirty day period outlook for small business action was tiny changed. Even so, the metric tells us minimal about nationwide production exercise, wrote RBC Funds Markets' Tom Porcelli to clientele.  <br><br>Marriott International is shopping for Starwood Resorts & Resorts in a $twelve.2 billion offer that would generate the world's most significant hotel enterprise. The blended firm would have one.one million rooms in in excess of 100 nations around the world. The transaction is composed of $11.nine billion really worth of Marriott stock and $340 million in cash. For every share of inventory, Starwood buyers will get $two in income and .ninety two Marriot shares priced at $seventy two.08.<br><br>Shares of biotech business Clovis Oncology collapsed seventy two%, wiping absent $three billion in market cap. The corporation introduced that the Foodstuff and Drug Administration, or Fda, requested extra knowledge ahead of it approves its lung-most cancers therapy rociletinib. Checks indicated that a lower number of patients were being responsive to the drug than formerly submitted to the Fda. The business explained it would provide the data by the shut of organization. The Food and drug administration very last week accepted AstraZeneca's rival drug identified as Tagrisso.<br><br>Warren Buffett is not selling shares because of Friday's terrorist attacks in Paris. Some analysts had been involved that the geopolitical uncertainty, as French president Francois Hollande declared war on ISIS, would dent shares. Buffett informed CNBC this as Berkshire Hathaway's most recent 13F submitting on extended positions independently emerged. It showed Buffett lowered his stakes in Goldman Sachs and Walmart through the 3rd quarter. <br>DON'T Overlook: Unsightly retail earnings shouldn't make you nervous about the American consumer �<br>NOW Look at: Former Princeton admissions director reveals the most significant mistakes candidates make