The Cboe Volatility Index logged its sixth-straight win today
The Dow flipped upside-down today, steadily losing this morning's triple-digit gains to close 410 points lower, as data revealed coronavirus cases increasing globally. Weighed down by a rough day from Big Tech stocks, the S&P 500 and Nasdaq also closed firmly in the red, with all three benchmarks' selloffs intensifying as the day wore on. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its sixth-straight win and highest close in almost two weeks.
Continue reading for more on today's market, including:
- Options bulls blasted this energy stock amid buyout buzz.
- Meanwhile, an earnings beat couldn't lift Halliburton stock.
- Plus, ADM extends its highs; chocolate giant picks up bull note; and CVS sees seasonal hiring surge.
The Dow Jones Industrial Average (DJI - 28,195.42) lost 410.9 points, or 1.4%. Today's only winner, Intel (INTC), added 0.8%, while Apple (AAPL) landed at the bottom of the Dow with a 2.6% loss.
Meanwhile, the S&P 500 Index (SPX - 3,426.92) fell 56.9 points, or 1.6% for the day, while the Nasdaq Composite (IXIC - 11,478.88) shed 192.7 points, or 1.7%.
Lastly, the Cboe Volatility Index (VIX - 29.18) added 1.8 points, or 6.5%.
- As coronavirus restrictions become tighter in the U.K. and various European countries, there has grown to be a force of opposition to the measures. (Reuters)
- After 13 years, the United Nations (UN) lifted its arms embargo on the Islamic Republic of Iran. With international attention, there is speculation on what this could mean moving forward. (CNBC)
- Bull notes boost Archer-Daniels-Midland stock.
- Hershey stock recently reclaimed 2020 losses.
- Coronavirus and flu season put CVS stock in focus.
Oil Ticks Lower After OPEC+ Announcement
Oil futures closed slightly lower today, after the Organization of the Petroleum Exporting Countries (OPEC+) opted not to provide further support for oil prices, and reiterated their deal to reduce production. November-dated crude fell 5 cents, or 0.2%, to settle at $40.83 a barrel.
Coming off gold's first weekly loss in three, gold futures rose today as the dollar weakened. December gold rose $5.30, or 0.3%, to settle at $1,911.70 an ounce.