Despite spending part of the day in positive territory, the S&P ended lower
U.S. stocks finished the day mixed, as the Dow managed to extend its win streak to a fourth day after hitting a record high above 26,800 in afternoon trading. Leading today's blue-chip surge was Intel (INTC), which rallied up to the site of a descending trendline connecting lower highs back to its June peak. However, weakness in small-cap stocks and across the broader tech sector led to a negative finish for the Nasdaq and S&P.
Continue reading for more on today's market, including:
- This Oasis Petroleum buy signal has never been wrong.
- Splunk stock just met up with a key moving average.
- The cannabis stock sunk by a stock offering.
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Plus, the retailer ready to soar; the software stock for bulls; and huge upside targeted for ETSY shares.
The Dow Jones Industrial Average (DJI - 26,773.94) finished up 122.7 points, or 0.5%, and earlier touched a fresh all-time peak of 26,824.78. Twenty-three of the 30 Dow components closed in positive territory, led by Intel's 3.6% gain. Nike (NKE) paced the six losers with a 2% drop, and DowDuPont (DWDP) ended flat.
The S&P 500 Index (SPX - 2,923.43) fell 1.2 points, or 0.04%, while the Nasdaq Composite (IXIC - 7,999.55) dropped 37.8 points, or 0.5%, to settle squarely below 8,000.
The Cboe Volatility Index (VIX - 12.05) edged up 0.05 point, or 0.4%.
5 Items on our Radar Today
- President Donald Trump has lost some footing on the Forbes 400 list since launching his bid for the presidency in 2015. The editorial outlet cited a lack of investment into his personal business since taking over as head of state as one of many reasons for his estimated $1.4 billion loss in net worth. (CNBC)
- On the heels of its $20 million settlement with the Securities and Exchange Commission (SEC), Tesla (TSLA) said it surpassed third-quarter delivery goals. Despite the positive data, TSLA shares closed down ___% for the day as the automaker warned of major cost disadvantages in China amid ongoing tariff disputes. (MarketWatch)
- Why Dick's looks ready to run higher.
- Making the case for a bullish DATA trade.
- One analyst predicts 19% upside for ETSY shares.
Data courtesy of Trade-Alert
Gold Rebounds on Italy's Budget Woes
Worries over output in Iran continued to prop up oil prices today, though futures ended slightly lower ahead of tomorrow's U.S. inventories report. November-dated crude remained above the $75 mark and near four-year highs, closing down 7 cents, or 0.09%, at $75.23 per barrel.
Gold futures pushed higher in today's trading as global concerns over Italy's budget continued to rise. December-dated gold picked up $15.30, or 1.3%, to settle at $1,207 an ounce -- its highest close in almost two weeks.