The Dow and S&P 500 sank for a third-straight session
It was a defeating session on Wall Street, with the S&P 500 and Dow marking three consecutive losses for the first time since early September and August, respectively. The tech-heavy Nasdaq also experienced a steep selloff and cut off a five-day win streak with its worst daily percentage drop since Sept. 6. The negative sentiment and sharp pullback can be attributed to the U.S. 10-year Treasury yield's push higher, which had it scoring five-month highs earlier.
Continue reading for more on today's market, including:
- Blue chip gaps lower on CDC warning.
- What to expect on Wall Street next week.
- Plus, more stocks making post-earnings moves; checking in with red-hot Dow stock; and options traders swarm ENPH.
5 Things to Know Today
- On the heels of machinist strikes and constant controversy, Boeing (BA) reported a third-quarter earnings miss and revenue that surpasses estimates. (MarketWatch)
- Abercrombie & Fitch (ANF) said it will cooperate with law enforcement after former CEO Mike Jefferies was arrested in connection to sex trafficking charges. (CNBC)
- 2 stocks moving higher after quarterly reports.
- Red-hot Dow stock due for a post-earnings pop.
- Options traders swarmed Enphase Energy stock.
Gold Drops Off After Hitting New Record
On the back of an unanticipated hike in U.S. crude inventories, oil prices tumbled during Wednesday's session. November-dated West Texas Intermediate (WTI) crude shed 97 cents, or 1.4%, to settle at $70.77 per barrel.
Safe haven gold pulled back from its intraday record peak, as yields have yet to hit a top and the U.S. dollar gains strength. Gold for December delivery dropped 0.9% to trade at $2,734.60 at last check.