Stocks Retreat from Record Highs
All three indexes suffered their worst day since early December
Stocks slipped from last week's record highs, with only one more session left in 2019. The blue-chip index clocked a triple-digit loss of 183 points, its biggest decline in almost four weeks, while the S&P and Nasdaq also suffered their biggest one-day drops since Dec. 3. Trading volume remained thin, with some saying today's sell-off was likely a result of the market's overbought condition.
Continue reading for more on today's market, including:.
How options traders are playing these 3 stocks ahead of 2020. The best FAANG stock to target in January.Plus, one Tesla rival's major sales beat; MAXR stock hits fresh highs; and the upgrade giving LendingTree a hand.The Dow Jones Industrial Average (DJI - 28,462.14) lost 183.1 points, or 0.6%. Apple was the only Dow component to end higher, with a 0.6% gain, while IBM (IMB) fell to the bottom of the bunch, with a 1.8% drop.
The S&P 500 Index (SPX - 3,221.29) settled 18.7 points, or 0.6%, lower, while the Nasdaq Composite (IXIC - 8,945.99) fell 60.6 points, or 0.7%.
The Cboe Volatility Index (VIX - 14.82) added 1.4 points, or 10.4%.
5 Items on Our Radar Today
As NFL television ratings continue to rise -- up 4% so far this season -- many unnamed league officials say the NFL is considering new multiyear media agreements, and a hike in broadcast fees. Currently, the NFL brings in more than $5 billion annually in broadcast fees. (CNBC)Democratic presidential hopeful and current U.S. Senator Bernie Sanders just received a clean bill of health from his doctor, several months after suffering a heart attack while on the campaign trail. In a statement, his doctor noted that, "Sanders is more than fit enough to pursue vigorous activities and an occupation that requires stamina and an ability to handle a great deal of stress." (Reuters)Behind this Tesla competitor's major sales beat. How MAXR stock surged to fresh highs today. The analyst upgrade giving LendingTree stock a hand.
Data courtesy of Trade-Alert
Gold Notches Fifth Consecutive Win
Oil notched another three-month high in intraday action, before eventually settling below breakeven. February-dated crude futures lost 4 cents to end at $61.68 per barrel.
Gold eked out a fifth consecutive win today. The streak marks the precious metal's longest in six months. February gold futures settled up 50 cents to end at $1,518.60 an ounce.