New home sales and consumer confidence were worse than expected
Disappointing economic data pushed Wall Street's major indices lower for Tuesday's session. The Dow fell 388 points for its worst day since March; the Nasdaq logged a triple-digit deficit to close at its lowest level since May; and the S&P 500 closed below 4,300 for the first time since June. The VIX, meanwhile, jumped for its highest close since May.
Continue reading for more on today's market, including:
- Analyst is bullish on this sports betting stock.
- Bull signal sure to boost shipping stock.
- Plus, UNFI's fall; Fisker's bull note and deliveries; and mining stock could soon crater.
5 Things to Know Today
- In a long-anticipated antitrust lawsuit, the Federal Trade Commission (FTC) and attorneys from 17 states accused Amazon.com (AMZN) of using its "monopoly powers" to undermine competition. (CNBC)
- The actors' strike is extending to video games, with 98.3% of Screen Actors Guild-American Federation of Television and Radio Artist members voting in favor of a strike on work in the medium. (MarketWatch)
- Food stock hits three-year lows.
- Everything that helped this EV stock pop.
- Why this mining giant could soon step back.
Crude, Bullion Futures Both Step Forward
Oil futures rose Tuesday, as investors continued to weigh the global economic outlook. Crude for November delivery added 71 cents, or 0.8%, to settle at $90.39 per barrel.
Gold futures retreated amid rising Treasury notes and a stronger U.S. dollar. December-dated gold dropped $16.80, or 0.9% to close at $1,919.80 an ounce on the day.