WMT and HD weighed on the blue-chip index today
It was a mixed bag of results on Wall Street today. The Dow registered its second consecutive loss, as both Home Depot (HD) and Walmart (WMT) took a post-earnings hit. However, the S&P 500 finally scored a record close on Tuesday, after coming within a chip-shot of the level for over a week. The Nasdaq Composite also scored a record close of its own, with outsized gains from FAANG names leading the charge. Meanwhile in Washington, D.C., a decision on the second round of coronavirus stimulus is nowhere to be seen.
Continue reading for more on today's market, including:
- A telemedicine stock was riding high after a fresh bull note.
- Foot Locker stock tripped ahead of its earnings report.
- Plus, unpacking Walmart's earnings beat; a cruise stock plummets after a ransomware attack; and two cannabis stocks with affordable options.
The Dow Jones Industrial Average (DJI - 27,778.07) dropped 66.8 points, or 0.2% for the day. Nike (NKE) finished with a 1.2% jump, pacing the 12 gainers. Visa (V) paced the 18 laggards with a 0.2% fall.
Meanwhile, the S&P 500 Index (SPX - 3,389.78) added 7.8 points, or 0.2% for the day. The Nasdaq Composite (IXIC - 11,210.84) rose 81.1 points, or 0.7% for today's session.
Lastly, the Cboe Volatility Index (VIX - 21.51) added 0.2 point, or 0.8% for the day.
- The Postmaster General said he would suspend some changes to the U.S. Postal Service (USPS) until November to avoid impact on 2020 election mail. (CNBC)
- The wealth of the top 12 billionaires in the U.S. just reached a new milestone of one trillion dollars, according to the Institute for Policy Studies. (MarketWatch)
- Carnival Cruise stock plunged after a ransomware attack compromised guest data.
- Options traders were piling on Walmart stock after an earnings beat.
- These two cannabis stocks have affordably priced options.
Data courtesy of Trade-Alert
Gold Conquers Historical Landmark Once Again
Oil future were flat on Tuesday, as investors waited for U.S. crude supplies data, as well as a Organization for Petroleum and Energy Countries and allies (OPEC+) panel meeting on Wednesday, which will monitor the effects of production cuts by major oil producers. As a result, September-dated crude stayed unchanged at $42.89 a barrel.
Meanwhile, gold futures extended yesterday's rally, conquering the historical $2,000 landmark again as the dollar grew weaker and government bond yields receded. Gold for December, the most-active contract, rose $14.40, or 0.7%, to settle at $2,012.10 an ounce.