Nasdaq Nabs Longest Winning Streak Since July
The impeachment hearing and FedEx earnings were in focus today
Stocks spent most of the day floating around breakeven, as investors examined weak earnings from FedEx (FDX) and the latest headlines surrounding today's impeachment hearings. Investors still seem to be buzzing from last week's trade negotiations, though, since the S&P and Nasdaq both hit record highs fairly early on. While the Dow and S&P slipped into the red at the close, the Nasdaq managed a sixth straight gain, marking its longest winning streak since July.
Continue reading for more on today's market, including:.
Why Deutsche Bank thinks this FAANG stock could soar.A double dose of bull notes had this shoe stock running toward new highs. Plus, 2 stocks options traders are swarming; one retail stock B. Riley is bullish on; and the bear note TWTR stock managed to brush off.The Dow Jones Industrial Average (DJI - 28,239.28) lost 27.9 points, or 0.1%. Ten of the 30 index members ended higher, with Boeing (BA) floating to the top on a 1.1% pop, and Walmart (WMT) dropping to the bottom with a 1.2% loss.
The S&P 500 Index (SPX - 3,191.14) settled 1.4 points, or 0.04%, lower,while the Nasdaq Composite (IXIC - 8,827.74) tacked on 4.4 points, or 0.05%.
The Cboe Volatility Index (VIX - 12.58) added 0.3 point, or 2.4%.
5 Items on Our Radar Today
The anticipated "Star Wars: The Rise of Skywalker," which is set to hit theaters Friday, was panned by critics prior to its release. Several critics felt the movie spent too much time tying up loose ends of the nine-part saga, but praised the film's score and acting performances. On Rotten Tomatoes, "The Rise of Skywalker" currently has a 57% "Rotten" rating. (CNBC)It just came out in an unpublished notice from the Food and Drug Administration (FDA) that a law allowing Canada to import some prescription drugs to the U.S. has been proposed. The proposal comes as a solution to the increasing drug shortage in the U.S., and as a way to provide cheaper medication. (MarketWatch)Options players went wild for these 2 stocks today. The online retailer B. Riley thinks is "well positioned." How Twitter stock brushed off Citigroup's scathing bear note.
Oil Slips After Inventories Data
Oil was flat for most of the day after data showed U.S. crude inventories declined by 1.1 million barrels -- a smaller drop than the 1.3 million barrels expected by analysts. January-dated crude futures gave back a penny to settle at $60.93 per barrel.
Gold ended lower today, as the dollar strengthened. February gold futures lost $1.90, or 0.1%, to end at $1,478.70 an ounce.