Stocks Slip as Earnings Enthusiasm Fades
The S&P's win streak came to an end at five days
The S&P 500, Dow, and Nasdaq all briefly flirted with positive territory today, but ultimately closed in the red. As such, the S&P ended a five-day win streak, while the Dow's own streak was snapped at three straight. On top of earnings from names like General Motors (GM) and Snap (SNAP), traders were also greeted with trade buzz early on, after Treasury Secretary Steven Mnuchin said he was traveling to China next week to continue trade negotiations.
Continue reading for more on today's market, including:
How call traders are playing Twitter earnings. Options traders expect huge moves from these 2 stocks.Plus, video game stocks get wrecked; the Times hits a new high; and a travel concern for option bears.The Dow Jones Industrial Average (DJI - 25,390.23) closed with a loss of 21.3 points, or less than 0.1%, after trading in a range of roughly 127 points for the day. Of the 15 Dow components that gained on the day, UnitedHealth (UNH) had the best session, adding 1.2%. Coca-Cola (KO) settled flat, and the 14 losers were paced by DowDuPont's (DWDP) 1.9% pullback.
The S&P 500 Index (SPX - 2,731.61) shed 6.1 points, or 0.2%, and the Nasdaq Composite (IXIC - 7,375.28) dropped 26.8 points, or 0.4%.
The Cboe Volatility Index (VIX - 15.38) also ended in the red, giving back 0.2 point, or 1.2%.
5 Items on our Radar Today
New York City's health department has ordered restaurants and other businesses to stop adding CBD to food and drinks. While the use of CBD was mostly legalized in December when President Donald Trump signed the new farm bill, it remains illegal to add the compound to food and beverages since it's the active ingredient in a drug called Epidiolex, made by GW Pharmaceuticals (GWPH). (CNBC)Cheaper oil and increased petroleum production helped lower the U.S. trade deficit for November. It marks the trade gap's first sequential decline in six months, and resulted in higher growth estimates from economists. (Reuters) Inside today's huge losses in video game stocks. Why New York Times shares soared to 13-year highs. Put players may want to consider this travel concern.
Data courtesy of Trade-Alert
Gold's Losing Stretch Continues as Dollar Gains
Oil prices posted modest gains today. March-dated crude futures settled up 35 cents, or 0.7%, at $54.01 per barrel, with upside capped by a stronger dollar.
The strength in the dollar also played a role in extending gold's losing streak to four days. By the close, gold futures dated for April delivery fell $4.80, or 0.4%, to settle at $1,314.40 per ounce.