Dow Turns Lower on Trade, D.C. Uncertainty
The Dow started the day in positive territory
A slow news day on Wall Street resulted in low trading volumes, as investors take a wait-and-see approach amid trade uncertainty. The Dow and its index peers spent time on both sides of breakeven, with traders looking ahead to another round of trade talks between the U.S. and China in Beijingthis week. Also likely causing hesitation is the potential for another government shutdown, as U.S. lawmakers continue to negotiate over funding for border security before the Feb. 15 deadline. By the close, the Dow was in the red, while the S&P and Nasdaq eked out modest gains.
Continue reading for more on today's market, including:
Options traders go bear mode before Shopify earnings. Analyst thinks underperforming drug stock can double.The pharma name that racked up an 11th straight loss. Plus, Roku tests key levels; bears pounce on Overstock sell-off; and retailer eyes impressive earnings streak.The Dow Jones Industrial Average (DJI - 25,054.73) ended with a 51.6-point, or 0.2%, loss, though half of its 30 components closed with gains. Nike (NKE) was by far the biggest gainer, closing up 1.6%, and the losers were paced by a 1.9% pullback in Walt Disney (DIS) shares.
The S&P 500 Index (SPX - 2,709.80) managed a 1.9-point, or 0.1%, win, and the Nasdaq Composite (IXIC - 7,307.91) closed up 9.7 points, or 0.1%.
The Cboe Volatility Index (VIX - 15.97) finished up 0.3 point, or 1.6%.
5 Items on our Radar Today
McDonald's (MCD) now has donut sticks. The restaurant chain just announced the new product as a way to bolster its breakfast menu. The company introduced Triple Breakfast Stacks back in November, which the company said have been a major hit. (CNN Business)A number of former Toys 'R' Us executives are trying to bring the liquidated retailer back to life. These executives have started a company called "Tru Kids," and the business plan is still a work in progress, as the company is exploring various different options. (CNBC) Downgraded Roku stock is testing a key level.Option bears pounced on the Overstock sell-off. The retailer looking to extend an impressive earnings streak.
Data courtesy of Trade-Alert
Dollar Strength Keeps Pressure on Gold
Global trade concerns also weighed on oil prices today. March-dated crude futures fell 31 cents, or 0.6%, to end at $52.41 per barrel.
Gold also struggled as the dollar continued to strengthen. Gold dated for April delivery was down $6.60, or 0.5%, at the close to settle at $1,311.90 an ounce.