S&P 500 Extends Slide, Logs 5th-Straight Loss

The VIX has added 18% this week alone

Laura McCandless

Deputy Editor

Dec 7, 2022 at 4:27 PM

Stocks, for the most part, continued this week's slide, though losses were modest compared to the past couple of days. The Dow looked like it would stage a rebound midday before paring those gains and ultimately barely finishing just above breakeven.

Elsewhere, the S&P 500 logged its fifth-straight loss, its longest losing streak since Oct. 12. The Nasdaq Composite is now on a four-day losing streak as well, while the Cboe Volatility Index (VIX) closed higher for the third consecutive day, and is now up 18.9% since the start of the week.

Continue reading for more on today's market, including:

Options traders are loving these biotech stocks.
Investors should keep an eye on these corporate updates.
Plus, the newest Schaeffer's podcast; analyst praises makeup giant; and two stocks staging post-earnings pops.

Closing Indexes Summary Dec 7

NYSE and Nasdaq Stats Dec 7

5 Things to Know Today

The head of the Securities and Exchange Commission (SEC) Gary Gensler chimed in on crypto regulations after the recent FTX collapse. (MarketWatch)
Lensa AI is trending online. The newly popular app, which has gathered a bit of controversy, turns selfies into digital art. (CNBC)
Our latest podcast details the state of the options industry.
Estee Lauder stock typically outperforms in December.
Two stocks boosted by upbeat earnings reports.

There were no earnings of note today.

Oil Extends Lows

Oil prices fell for the fourth day in a row, ending at their lowest settlement for a front-month contract since Dec. 21, 2021. West Texas Intermediate (WTI) crude for January delivery dropped $2.24, or 3%, to settle at $72.01 a barrel.

Gold prices rose for the second day, though still settling below the psychologically significant $1,800 level. February-dated gold added $15.60, or 0.9%, to settle at $1,798 per ounce.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!