Dow Drops Third Straight, Gold Breaks Out
Gold futures logged their highest settlement in nearly seven years
The Dow kicked off the holiday-shortened week with a third-straight loss. The blue-chip index finished down triple digits, gripped by Apple (AAPL) and the dire coronavirus warning against its guidance. The S&P 500closed in the red as well, while theNasdaq pared its losses to finish in the black, although tech stocks and Apple suppliers in particular felt the pinch today from the reduced outlook. Against this backdrop, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its biggest one-day percentage gain since Jan. 31.
Continue reading for more on today's market, including:
Beyond Meat stock bucked the broad market sell-off today.This China stock was clobbered by a bear note.Plus, a Domino's earnings preview; FAST flashing 'buy'; and Medtronic facing coronavirus headwinds.The Dow Jones Industrial Average (DJI - 29,232.19) finished 165.9 points, or 0.6% lower for the day. Walmart (WMT) paced the six winnerswith a 1.5% gain, while Dow Inc (DOW) and Apple tied for last place, both 1.8% lower.
The S&P 500 Index (SPX - 3,370.29) shed 9.9 points, or 0.3%,while the Nasdaq Composite (IXIC - 9,732.74) tacked on 1.6 points.
The Cboe Volatility Index (VIX - 14.83) gained 1.2 point, or 8.4%.
5 Items on Our Radar Today
The U.S blacklisted a subsidiary of Russian state oil major Rosneft today. The move is meant to not only tighten the financial restrictions placed against Venezuela and President Nicolas Maduro's government, but also to increase pressure on Russia. (Reuters)Democratic Presidential candidate Mike Bloomberg -- who also just qualified for tomorrow's primary debate -- unveiled his platform to rein in Wall Street. The ambitious plan would reinforce many of the reforms outlined in the 2010 Dodd-Frank Act in response to the Great Recession. (CNBC)Domino's Pizza stock is eyeing record highs as earnings loom.FAST stock could be the perfect stock for bulls.Medtronic was the latest stock to fall victim to coronavirus headwinds.
Data courtesy of Trade-Alert
Oil Flat, Gold Breaks Out
Crude futures were flat today, as investors weigh the lack of action from the Organization of the Petroleum Exporting Countries (OPEC) in supporting the market amid the coronavirus outbreak. March-dated oil remained at $52.05 per barrel.
Gold futures roared higher today, as the safe-haven asset rose on expectations of central bank stimulus to combat the coronavirus. Gold for April delivery gained $17.20, or 1.1%, to settle at $1,603.60 an ounce, its highest settlement since March 2013.