President Trump will give a speech on U.S. plans for Afghanistan tonight
The Dow Jones Industrial Average (DJIA) explored both positive and negative territory today, but eventually finished near a session high. However, while the S&P 500 Index (SPX) also eked out a win, the Nasdaq Composite (COMP) continued its losing streak today, as tech stocks underperformed. Aside from the widely anticipated solar eclipse, traders eyed scheduled military games between the U.S. and South Korea -- which North Korea deemed "reckless" -- and now await President Trump's speech regarding the U.S. plan in Afghanistan.
Continue reading for more on today's market, including:
- This rare signal could mean a big September for the Nasdaq.
- 3 must-watch tech earnings.
- Blackberry just crossed a crucial level.
- Plus, an internet stock up on earnings; the Chinese stock expected to assail new heights; and 2 athletic stocks rattled by downgrades.
The Dow Jones Industrial Average (DJIA - 21,703.75) gained 29.2 points, or 0.1%, Monday, as 16 of its 30 stocks ended higher. Home Depot paced the winners with a 1.1% gain, while Nike stock led the 14 losers with a 2.4% loss.
The S&P 500 Index (SPX - 2,428.37) managed to gain 2.8 points, or 0.1%. The tech-heavy Nasdaq Composite (COMP - 6,213.13) ended lower, dropping 3.4 points, or 0.1%.
The CBOE Volatility Index (VIX - 13.19) was also at a loss, letting go 1.1 point, or 7.5%.
5 Items on Our Radar Today
- U.S. Treasury Secretary Steve Mnuchin, along with Senate Majority Leader Mitch McConnell, told an event in Louisville, Kentucky, that Congress will raise the debt ceiling before the deadline to prevent a default. There is "zero chance" Congress won't raise the ceiling, McConnell said. (Bloomberg)
- The Economist Intelligence Unit (EIU) has rated Melbourne, Australia, as the city with the best quality of life for the seventh year in a row. The EIU pulls more than 30 criteria each year to find the most livable cities in the world, to complete its "Global Livability Ranking" list. Some of these criteria include infrastructure, culture and environment, healthcare, and education. (MarketWatch)
- The internet stock eyeing new highs post-earnings.
- Barclays predicted record highs for this Chinese tech stock.
- 2 athletic stocks rattled by downgrades.
There were no earnings of note today
Data courtesy of Trade-Alert
Commodities
Despite Friday's big rally, oil ended lower today following a lack of information from a recent meeting of Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers. September-dated crude fell 2.4%, or $1.14, to settle at $47.37 per barrel.
Gold ended higher today, as a joint military exercise between the U.S. and South Korea refueled concerns about North Korea tensions. December-dated gold futures finished Monday up $5.10, or 0.4%, settling at $1,296.70 an ounce. Elsewhere, Copper futures surged to their highest point since November 2014.