Yesterday's better-than-expected manufacturing activity
reignited tapering concerns, as investors believe stronger economic
data will mean a faster move away from the central bank's
accommodative stance. These worries, combined with post-holiday
fatigue, drove stocks into the red once again. The
Dow Jones Industrial Average (DJI)
finished in negative territory for the third consecutive session,
and lost its grip on the 16,000 mark, while the
S&P 500 Index (SPX)
breached its own round-number threshold, the 1,800 level.
Continue reading for more on today's market, including
Auto sales spiked in November, Apple Inc. (
) confirmed some M&A news, and Twitter Inc (NYSE:
) lured a group of weekly call players to the options pits.
Dow Jones Industrial Average (DJI - 15,914.62)
was parked in negative territory for the entire session, and
touched an intraday low of 15,859.68 during the afternoon hours of
trading. By the end, the Dow was down 94.2 points, or 0.6% -- its
first daily close below 16,000 since Nov. 20. Exxon Mobil
) led the Dow's nine advancers with a gain of 0.9%, while E I Du
Pont De Nemours And Co (
) paced the 21 decliners with a loss of 2%.
S&P 500 Index (SPX - 1,795.15)
also spent the session swimming in red, and fell 5.8 points, or
0.3%, by the close, marking the first sub-1,800 close since Nov.
21. Meanwhile, the
Nasdaq Composite (COMP - 4,037.20)
finished 8.1 points, or 0.2%, lower.
CBOE Volatility Index (VIX - 14.55)
gained ground right out of the gate, and advanced 0.3 point, or
2.3%, for the day, racking up its highest close since Oct. 16.
3 Things to Know About Today's Market
- Thanks to Black Friday promotions and incentives, Autodata
overall vehicle sales increased
to an annual pace of 16.4 million in November, compared to 15.3
million a year earlier. Among the gainers was General Motors
), which reported a 14% year-over-year jump in sales last month
-- marking the manufacturer's strongest November in six years.
- Apple Inc. (
) said it
, a social media and analytics startup, although details of the
deal were scant. Meanwhile, the stock traded higher today after
bullish attention at UBS
- Krispy Kreme Doughnuts (
) revealed a
fiscal third-quarter profit
of $6.8 million, or 9 cents per share, up from $5 million, or 7
cents per share, in the year-ago period. Meanwhile, revenue rose
by 6.7% to $114.2 million. Looking forward, however, the company
projected fiscal 2015 earnings that fell shy of analysts'
5 Stocks We Were Watching Today
Bank of America Corp (BAC)
scored a bullish brokerage note this morning after reaching a
settlement with Freddie Mac yesterday.
- Bullish options activity surged on
Las Vegas Sands Corp. (LVS)
, particularly on the casino operator's January-dated calls.
Twitter Inc (TWTR)
attracted a crop of near-term call players, who bet on a quick
pop for the Internet issue by week's end.
- Options speculators zeroed in on
Tesla Motors Inc (TSLA)
, thanks to some upbeat news regarding its model S sedans.
BlackBerry Ltd's (BBRY)
Enterprise Server update failed to impress bearish traders, as
they scooped up front-month puts.
For a look at today's options movers and commodities
activity, head to page 2.
Crude futures advanced again today, bolstered by projections for
a decline in oil supplies. By the time the dust settled, the
January contract climbed $2.22, or 2.4%, to finish at $96.04 per
barrel -- the highest closing price since late October, when
comparing most-active contracts.
Conversely, gold futures extended yesterday's losses, with
February-dated gold lopping off $1.10, or 0.1%, to end at $1,220.80
per ounce -- once again marking the lowest settlement price for a
most active contract since July 5.
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