Dow Falls for Third Day in a Row
There wasn't much to drive stocks higher today
Stocks spent the majority of the day in the red, and though the Dow managed to pare most of its losses by the close, it finished lower for a third straight day. The S&P 500 also logged a third consecutive loss as tech weakness outweighed strength from the energy sector, while the Nasdaq fell, as well. Meanwhile, retail earnings and trade buzz were also in focus, as the major indexes head into Friday's session flirting with weekly losses.
Continue reading for more on today's market, including:.
Twitter options popped during stock's rally. How the market is preparing for Foot Locker earnings. Plus, mining stock gets hit; retailer flashes bear signal; and analyst note puts pressure on Applied Materials.The Dow Jones Industrial Average (DJI - 27,766.29) closed down 54.8 points, or 0.2%, with 15 of 30 Dow components closing in the black. Exxon Mobil (XOM) had the best day with a 2.4% gain, while Procter & Gamble (PG) was the biggest loser, closing down 1.6%.
The S&P 500 Index (SPX - 3,103.54) dropped 4.9 points, or 0.2%, and the Nasdaq Composite (IXIC - 8,506.21) fell 20.5 points, or 0.2%.
The Cboe Volatility Index (VIX - 13.13) added 0.4 point, or 2.7%.
5 Items on Our Radar Today
Politico reported today that the Trump administration is considering starting a new trade investigation into the European Union. President Trump earlier this month delayed increasing tariffs on auto imports from Europe. (Politico)Israel's Prime Minister Benjamin Netanyahu has been charged with bribery, fraud, and breach of trust, spanning three separate cases. Netanyahu said the charges, brought by the Attorney General, are an attempt at a coup. (CNN)Why this mining stock slipped. Bed Bath & Beyond's big bear signal.The analyst note that put pressure on AMAT shares.
Oil Has Big Day
Oil prices got a major boost today on hopes that major producers will extend supply cuts. January-dated crude closed up $1.57, or 2.8%, at $58.58 per barrel, marking its highest close in roughly two months.
Gold prices moved lower today. Gold dated for December delivery gave back $10.60, or 0.7%, to end at $1,463.60 an ounce.