Stocks Lower Across the Board As Tech Rebound Runs Out Of Gas
The Dow Jones Industrial Average (DJIA) finished lower today, surrendering more than 100 points, as blue-chip stock Walt Disney (DIS) slumped amid Twenty-First Century Fox (FOXA) buyout buzz. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also gave up early gains, suffering a third straight loss, as an early tech rebound lost steam. Looking ahead, the House tomorrow is expected to vote on a bill to fund the federal government through Dec. 22, though White House spokeswoman Sarah Sanders said a government shutdown is "always a possibility."
Continue reading for more on today's market, including:
The Apple supplier flashing "buy."The best trading strategy for this housing ETF.Alibaba stock could have room to run.Plus, 2 skyrocketing drug stocks; a Lululemon earnings preview; and an outperforming chip stock in December.The Dow Jones Industrial Average (DJIA - 24,180.64) finished 109.4 points, or 0.5%, lower. McDonald's (MCD) led nine Dow stocks higher with its 1.4% win, while Walt Disney (DIS) paced the 21 decliners with its 2.7% loss.
The S&P 500 Index (SPX - 2,629.57) finished 9.9 points, or 0.4%, lower. The Nasdaq Composite (IXIC - 6,762.21) lost 13.1 points, or 0.2%.
The CBOE Volatility Index (VIX - 11.33) lost 0.4 point, or 3%.
5 Items on Our Radar Today
The price of single bitcoin rose 5.8% today, hitting a record of $11,855.73. Bitcoin's total market cap now surpasses $200 billion, after topping $100 billion less than two months ago. Last week, it was announced that bitcoin futures will begin trading soon.(MarketWatch)The International Olympic Committee is banning Russia from the 2018 Winter Olympics for "the systematic manipulation of the anti-doping rules," though some athletes will be allowed to compete under the Olympic flag. The suspension is based on findings from a 2016 commission that sought to examine Russian officials and institutions involved in organized doping. (ESPN)2 drug stocks that took off today..Lululemon stock has a history of volatile post-earnings moves.This chip stock tends to outperform in December.
Data courtesy of Trade-Alert
Commodities
Crude slated for January delivery added 15 cents, or 0.3%, to close at $57.62 per barrel, after Goldman Sachs raised its 2018 forecast for oil.
February-dated gold futures fell $12.80, or 1%, to settle at $1,264.90 an ounce, and earlier touched a two-month low, as the U.S. dollar extended its rise.