U.S. stocks pushed higher today, thanks to strong gains out of the tech and healthcare sectors. The Dow Jones Industrial Average (DJI) , Nasdaq Composite ( IXIC ) , and S&P 500 Index ( SPX ) all finished in positive territory, with the latter index notching a fourth straight win. Outside of optimism over trade relations between the U.S. and China, traders also reacted to this morning's economic data, which included a tepid rise in consumer prices that weighed down bond yields and fanned the bullish flames for stocks.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 26,145.99) jumped 147.1 points, or 0.6%, notching a third straight win. Apple ( AAPL ) had the best day of the 23 Dow gainers, up 2.4% by the close. As for the seven decliners, McDonald's ( MCD ) had the worst day, down 1.4%.
The S&P 500 Index (SPX - 2,904.18) rose 15.3 points, or 0.5%, and the Nasdaq Composite (IXIC - 8,013.71) added 59.5 points, or 0.8%.
The Cboe Volatility Index (VIX - 12.37) closed down for a fourth straight day, losing 0.8 point, or 5.9%.
5 Items on our Radar Today
- Hurricane Florence has reached North Carolina's Outer Banks . The storm has weakened, but it's still expected to produce massive amounts of rainfall through Monday. It's now expected to make landfall near Wilmington. ( NPR )
- General Motors ( GM ) has announced it's recalling more than 1 million pickup trucks and sport utility vehicles. The company called out issues with power steering, which have reportedly resulted in 30 accidents, though no deaths have occurred. ( Reuters )
- 2 reasons Tesla stock fell today .
- Tilray stock's record high drew heavy options trading .
- Breaking down a winning options trade on CF Industries.
Data courtesy of Trade-Alert
Oil Prices Slide on IEA Data
The price of oil fell sharply today, as Florence weakened and the International Energy Agency (IEA) announced an increase in global crude supplies. October-dated crude futures lost $1.78, or 2.5%, to end at $68.59 per barrel.
Gold struggled today amid the rise in equity prices. December-dated gold shed $2.70, or 0.2%, and closed at $1,208.20 an ounce.