Dow Slides 95 Points on Trade Uncertainty
High-level trade negotiations between the U.S. and China are set to resume later this week
The Dow finished lower to start the week, with all eyes turned towards this week's high-level trade talks between the U.S. and China, set to take place Thursday in Washington, D.C. While White House economic advisor Larry Kudlow struck a positive tone earlier in regards to the two nations coming to an agreement, some reports suggest China isreluctant to agree to the sweeping terms of a trade deal favored by President Donald Trump.
Continue reading for more on today's market, including:
What drove these 3 drug stocks higher today. How options players are trading Netflix stock ahead of earnings. Calls are piping hot during one healthcare stock's big rally. Plus, GM stock dips; the bull signal flashing for ADBE; and why one analyst likes NVDA.The Dow Jones Industrial Average (DJI - 26,478.02) shed 95.7 points, or 0.4%. UnitedHealth (UNH) led the eight gainers with a 0.7% lead, while 3M (MMM) fell to the bottom of the 22 losers with a 1.5% loss.
The S&P 500 Index (SPX - 2,938.79) settled 13.2 points, or 0.5%, lower, while the Nasdaq Composite (IXIC - 7,956.29) lost 26.2 points, or 0.3%.
The Cboe Volatility Index (VIX - 17.86) added 0.8 point, or 4.8%, today.
5 Items on Our Radar Today
Apple's (AAPL) latest Mac update, macOS Catalina, just launched, with plenty of new features, including the replacement of iTunes with three separate Apple TV, Apple Music and Podcasts apps. (CNBC)Over 400 indigenous protesters have been arrested amid ongoing unrest in Ecuador, with the group today blocking a central highway into the capital city of Quito. This marks the fifth day the indigenous organization CONAIE has held demonstrations following President Lenin Moreno's rule eliminating fuel subsidies. (Reuters)Why the latest GM strike news had puts piling up. The major trendline that's in play for Adobe stock. Chip stock NVDA leaps on a brand-new bull note.There are no earnings of note today.
Data courtesy of Trade-Alert
Oil, Gold Slide as Investors Await Thursday Trade Meeting
Oil prices finished marginally lower as investors look ahead to this Thursday's trade talks. November-dated crude futures fell $0.06, or 0.1%, to settle at $52.75 a barrel.
Meanwhile, gold also pulled back. Gold futures for December delivery lost $8.50, or 0.6%, to end at $1,504.40 per ounce.