Market Wrap For November 19: Home Depot's Strong Earnings Not Enough To Keep Dow In Positive Territory

With another day that has passed comes fresh comments from a Fed President. Today, Chicago Fed boss Charles Evans said that 2013 growth will likely fall short of expectations. In what is clearly a growing sign of

ability to deliver news, the Chicago Fed live-tweeted Evan's speech which was given to Illinois bankers. Most notable was:

Also of interest was Evan's view that the benefits of the Fed's policy outweigh the costs. Evans is looking forward to the day “when we can begin to unwind.” The Dow closed lower by 0.06 percent, at 15,966.90. The S&P 500 closed lower by 0.20 percent, at 1,787.86. The Nasdaq closed lower by 0.44 percent, at 3,931.55. Gold edged higher by 0.04 percent, trading at $1,272.80. Oil gained 0.26 percent, trading at $93.92. Silver lost 0.16 percent, trading at $20.33.

Economic data was light with the Redbook Chain Store Sales came in at 3.5 percent year over year compared to 3.3 percent last week. Premarket, the Organization for Economic Cooperation and Development cut its global growth forecast for the remainder of this year and also cutting its forecast for 2014. The Paris based organization cited the “fragilities” that exist in emerging markets such as Brazil and India. The organization cut its 2013 global growth projections to 2.7 percent, down from 3.1 percent. Next year, the global economy will grow 3.6 percent, instead of its previously forecasted 4 percent. The OECD described the Fed as being in a “very tricky position” and believes that the Fed must keep an accommodative stance for some time before tapering, which will “happen eventually.” The U.S. economy is expected to expand 1.7 percent this year, and 2.9 percent in the following year. Finaly, the OECD said the European Central Bank's strategy of driving down wage costs across Southern Europe through deflation is leading to a debt trap that is “ultimately unworkable.” The eurozone is expected to contract 0.4 percent in 2013 before returning to growth in 2014 with a 1 percent expansion. Treasury Secretary Jacob Lew commented that policy makers should consider a “reform” of the government's borrowing limit in order to avoid future “fiscal clashes” that can harm economic growth. The debt ceiling is suspended until February 7, 2014. Lew commented that Congress should agree to raise the debt ceiling “way in advance.”

Investors weren't too pleased with

earnings release yesterday after the bell. Shares dropped 5.03 percent closing at $52.72 for the day as margin pressures caused by the company's operating expenses (especially for sales and marketing) is being viewed as a negative.

shareholders approved the sale of the company's devices and services division to

Seperatly, Nokia is reported to have scrapped plans to pursue an acquisition of parts of

after weighing its options. Nokia closed lower by 3.10 percent, closing at $7.81, Microsoft lost 1.24 percent, closing at $36.74, while Alcatel-Lucent declined 5.96 percent, closing at $3.79. Jim Chanos revealed his bearish stance on

and described shares as a “value trap” during the Reuters Summit. Shares were largely unaffected, closing the day lower by 0.04 percent at $95.41. At Elon Musk's request, the NHTSA will investigate if

Model S has an increased risk of fire. Shares of Tesla gained 3.71 percent for the day, closing at $126.09. Shares are still significantly lower from its 52 week highs of $194.50.