Dow Adds 150 Points on U.S.-China Deal Hopes
President Trump and Vice Premier Liu plan on meeting tomorrow, per Twitter
The Dow finished roughly 150 points higher today, extending yesterday's gains on a statement from President Donald Trump that he would meet with Chinese Vice Premier Liu He on Friday, strengthening optimism over an eventual trade deal. This sentiment was buoyed by a report that the Trump administration may be prepared to loosen some of its restrictions on tech giant Huawei. Against this backdrop, the Nasdaq and the S&P were both higher at the close, too.
Continue reading for more on today's market, including:
Options players blast 3 weed stocks as the sector crumbles. 2 healthcare stocks with buy signals flashing. New PG&E drama has options bulls hitting the bricks. Plus, a bull signal for DOCU stock; Bed Bath & Beyond's new CEO; and RADA stock's red-hot rally.The Dow Jones Industrial Average (DJI - 26,496.67) added 150.7 points, or 0.6%. Trade-sensitive Caterpillar (CAT) led the 22 gainers, up 2.7%, while Cisco Systems (CSCO) suffered the biggest drop on a 1.5% loss. Visa (V) finished flat.
The S&P 500 Index (SPX - 2,938.13) settled 18.7 points, or 0.6%, higher, while the Nasdaq Composite (IXIC - 7,950.78) tacked on 47 points, or 0.6%.
The Cboe Volatility Index (VIX - 17.57) fell 1.1 point, or 5.7%, today.
5 Items on Our Radar Today
More than two dozen people have now died from vaping-related lung diseases, according to the Centers for Disease Control and Prevention (CDC), adding that 219 probable cases have been diagnosed in 49 states since last week. Most of these cases were from vaping THC, while a smaller percentage used exclusively nicotine. (CNBC)Fidelity Investments announced that it will be cutting trade commissions, jumping on the recent trend of major brokerage firms reducing or eliminating brokerage fees in an effort to compete with online platforms, such as Robinhood. (MarketWatch)3 reasons to buy calls on DocuSign stock. The retail vet taking the reins as Bed Bath & Beyond's new CEO. Why outperforming defense stock RADA popped again today.
Data courtesy of Trade-Alert
Oil Hits One-Week High Amid U.S.-China News
Oil ended at a one-week as investors kept a close eye on the latest trade news between the U.S. and China. November-dated crude futures gained $0.96, or 1.8%, to settle at $53.55 a barrel.
Gold reversed course today, landing at its lowest close in over a week as investors turned their attention to riskier assets. Gold futures for December delivery shed $11.90, or 0.8%, to end at $1,500.90 per ounce.