The Dow traded within a 300-point range today
After trading within a 300-point range today, the Dow closed marginally higher amid a volatile session. The blue-chip index erased earlier gains and seemed poised to extend yesterday's tremendous losses. In the final hour of trading, though, the Dow pared a triple-digit loss to finish up 40 points. The S&P 500 and Nasdaq both followed suit with similar last-minute rallies. Investors are still unpacking today's producer price index (PPI) reading for August, which fell for the second-straight month, losing 0.1%.
Continue reading for more on today's market, including:
- 10 commandments of fantasy football and options trading.
- EV stock surges on upgrade to "buy."
- Plus, support in place for CZR; and two stocks seeing analyst praise.
The Dow Jones Average (DJI - 31,135.09) gained 30.1 points, or 0.1% for the day. Chevron (CVX) led the gainers with a 2.4% rise, while Honeywell (HON) landed at the bottom of the list with a 2.7% drop.
The S&P 500 Index (SPX - 3,946.01) rose 13.3 points, or 0.3% for the day, while the Nasdaq Composite (IXIC - 11,719.68) added 86.1 points, or 0.7%.
Lastly, the Cboe Volatility Index (VIX - 26.16) lost 1.1 points, or 4.1%.
5 Things to Know Today
- As part of GameStop's continuous push into digital assets, the company is adding NFT trading cards to its loyalty program perks.(CNBC)
- The deadline for an agreement to be reached over the impending U.S. railroad strike -- which could have serious economic implications -- is coming up tomorrow. (MarketWatch)
- Casino stock for options bulls to watch.
- Underperforming consumer lending name receives upgrade.
- Analyst calls Merck stock a "low-risk value option."
There were no earnings of note today.
Oil Prices Rise on Reserve Speculation
Oil prices rose today -- their fourth win in the last five days -- after Bloomberg reported that the Biden administration may refill the nation's oil reserve when crude prices dip below $80 a barrel. October-dated West Texas Intermediate (WTI) crude added $1.17, or 1.3%, to settle at $88.48 a barrel on the New York Mercantile Exchange.
Gold futures fell for the second-straight day as the dollar rebounded. December-dated gold dropped $8.30, or 0.5%, to settle at $1,709.10 per ounce.