Dow Logs Third Straight Win on Rate-Cut Hopes
This was the Dow's second straight triple-digit gain
The Dow nabbed its third straightwin today -- and second-straight triple-digit gain -- after weak jobs dataunderscored expectations for a Fed interest rate cut. Wall Street also breathed a collective sigh of relief after White House advisor Peter Navarro downplayed the possibility of President Donald Trump's proposed tariffs on Mexican imports going into effect next week. Tech stocks also enjoyed another up day, with Apple (AAPL) shares gaining after CEO Tim Cook said he doesn't expect China to target the iPhone maker amid the current trade war.
Continue reading for more on today's market, including:
These 2 tech stocks are a steal.Breaking down 2 stocks that made huge post-earnings moves.Analyst: Buy this pot stock now.Plus, a cautionary note on Weight Watchers; software stocks set for earnings; and 2 stocks that made drastically different moves today.
The Dow Jones Industrial Average (DJI - 25,539.37) added 207.4 points, or 0.8%, in today's trading. Cisco Systems (CSCO) led the 24 winners with a 2.9% gain, while Walgreens Boots Alliance (WBA) was the leading loser with a 1.4% drop.
The S&P 500 Index (SPX - 2,826.15) gained 22.9 points, or 0.8%, while the Nasdaq Composite (IXIC - 7,575.48) soared 48.4 points, or 0.6%.
The Cboe Volatility Index (VIX - 16.09) fell 0.9 point, or 5.2%, today.
5 Items on our Radar Today
A poll of Michigan voters revealed that Democratic presidential front-runners Joe Biden and Bernie Sanders both have an upper hand against President Trump in the upcoming 2020 election. The poll shows that if elections were held today, both Biden and Sanders would beat the incumbent Trump by 12 percentage points in Michigan, a key battleground state. (Reuters)Should the U.S. proceed with itstariffs on Mexico imports, retaliatory measures may already be in place. Mexican President Andres Manuel Lopez Obrador is reportedly weighing a list of U.S. products that will be subject to tariffs, with sources saying Trump's electoral base is the alleged target. (Reuters)Don't bet on a breakout from Weight Watchers stock.These 2 software stocks are set for earnings.These stocks just logged their best and worst days ever.
Data courtesy of Trade-Alert
Oil Skids into Bear-Market Territory; Six in a Row for Gold
Black gold slipped today, falling into bear-market territory. July-dated oil futures dropped $1.80, or 3.4%, to end at $51.68 per barrel, due to a bigger-than-expected weekly climb in domestic crude supplies and concerns about an economic slowdown.
Gold logged its sixth straight win, boosted by the signs of economic weakness in the U.S. August-delivered gold rose $4.90, or 0.4%, to settle at $1,333.60 an ounce, marking the yellow metal's highest finish since Feb. 20.