The DJIA gave back some of Friday's triple-digit gains, as stock traders look to the White House for clues
The Dow Jones Industrial Average (DJIA) spent most of the day in the red, but held on to its perch atop the round 20,000 level. Stocks fell as investors continued to watch for clues about what's in store from U.S. President Donald Trump, whose controversial immigration ban hit a snag on Friday. Amid the uncertainty, investors sought safety in gold, which touched an 11-week high. Traders are also looking ahead to tonight's speech from Philadelphia Fed President Patrick T. Harker.
Continue reading for more on today's market, including:
- 3 must-watch stocks this week, according to Schaeffer's Senior Options Strategist Tony Venosa, CMT.
- The $1.5 million bearish bet on this Super Bowl reject.
- How option traders bet on notable moves for Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN).
- Plus, the fertilizer stock that could rally after earnings, poultry price-fixing allegations, and Tiffany's C-Suite shake-up.
The Dow Jones Industrial Average (DJIA - 20,052.42) dropped 19 points, or 0.1%. Merck & Co., Inc. (NYSE:MRK) led the 10 Dow winners with a gain of 1%, while the 20 Dow losers were paced by Verizon Communications Inc. (NYSE:VZ), which dropped 1.1%.
The S&P 500 Index (SPX - 2,292.56) also ended lower, shedding 4.9 points, or 0.2%. The Nasdaq Composite (COMP - 5,663.55) dipped 0.1%, or 3.2 points.
The CBOE Volatility Index (VIX - 11.37) added 0.4 point, or 3.7%.
5 Items on Our Radar Today
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Japanese automakers
Toyota and Suzuki have initiated formal talks on forming a strategic alliance that would allow the two companies to share safety and environmental technologies, R&D, and part supplies.
(CNBC)
- Is Mosaic Co (NYSE:MOS) ready to rally after earnings?
- The price-fixing allegations that weighed on this chicken stock.
- The Tiffany & Co. (NYSE:TIF) departure that had everyone talking.
Data courtesy of Trade-Alert
Commodities
March-dated crude futures dropped 82 cents, or 1.5%, to end the day at $53.01 per barrel. A stronger dollar weighed on black gold, in spite of continued output cuts by the Organization of Petroleum Exporting Countries (OPEC) and tensions between the U.S. and Iran.
April-dated gold futures gained $11.30, or 0.9%, to $1,232.10 per ounce -- its highest perch since November -- as investors flocked to the precious metal amid growing political uncertainty in both the U.S. and Europe.
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