Technology and communications were the only positive sectors today
The first trading day of October saw the Dow shed 74 points for its eighth loss in 10 sessions and lowest close since June 2. The September scaries bled into a new month for at least one day, even after U.S. lawmakers agreed to a short-term deal that prevented a government shutdown. Technology and communications were the broader market's only positive sectors today, though the S&P 500 still finished in the red and the Nasdaq managed a fractional win.
- Solar stock boasts intriguing entry point.
- Beyoncé could be the halo this meme stock needs.
- Plus, hedge fund flow; more on solar stocks; and a healthcare stock to watch.
5 Things to Know Today
- Tesla's (TSLA) delivery numbers are in, and the EV giant said "downtimes" were to blame for a lackluster quarter.. (CNBC)
- The bond-market rout is still in full swing, and the iShares 20+ Bond ETF (TLT) moved close to level not seen since the 2007-009 financial crisis. (MarketWatch)
- The hedge fund world is at a multi-year extreme.
- Solar stocks made moves after analyst notes.
- Analyst calls healthcare equipment stock a "buy."
There were no earnings of note today.
Oil Futures Fall to 3-Week Low
Oil futures settled lower to start October, dragged down to a three-week low by a stronger U.S. dollar, profit taking, and forecast concerns about rising crude supplies and demand pressure. Crude for November delivery lost $1.97, or 2.2%, to settle at $88.82 per barrel.
Gold prices settled lower too, settling at its lowest level since March as they head for a "death-cross" -- a technical term that usually indicates bearishness. December-dated gold shed $18.90, or 1%, to close at $1,87.20 an ounce on the day.