The Dow extended its midday losses to fall 222 points, as a new record in coronavirus infections caused "reopening" stocks such as airlines to fall. The S&P 500 closed lower as well, while the Nasdaq managed to turn out a win as tech-heavy "at-home" stocks rose. Meanwhile, investors are unpacking a slew of corporate earnings, as well as data that U.S. consumer confidence dipped to 100.3 from 101.3 in October.
Continue reading for more on today's market, including:
- eBay options bears bears gearing up for earnings.
- Harley-Davidson stock rumbled to best day since March.
- Plus, insurance stock climbs on spinoff buzz; pharma giant rises on increased demand; and CAT slips from pre-earnings highs.
The Dow Jones Industrial Average (DJI - 27,463.19) fell 222.2 points, or 0.8%. Salesforce.com (CRM) topped the Dow with a 3.4% win, while Boeing (BA) landed at the bottom with a 3.4% loss.
Meanwhile, the S&P 500 Index (SPX - 3,390.68) dropped 10.3 points, or 0.3%, while the Nasdaq Composite (IXIC - 11,431.35) gained 72.4 points, or 0.6% for the day.
Lastly, the Cboe Volatility Index (VIX - 33.35) added 0.9 point, or 2.7%.
- The U.S. Federal Communications Commission (FCC) voted on its 2017 repeal of Obama-era net neutrality rules, something that is on the table in the upcoming election process as well. (Reuters)
- Now that the second stimulus package is paused until after the Nov. 3 presidential election, here are some of the remaining CARES Act benefits and when they expire. (CNBC)
- Spinoff sends American International stock soaring.
- Pharmaceutical company sees high demand for specific treatments.
- Options volume takes off for slipping Caterpillar stock.
Gold, Oil Rose in Today's Session
Oil futures rose today as Tropical Storm Zeta disrupts oil production. December-dated crude gained $1.01, or 2.6%, to settle at $39.57 a barrel.
Gold futures settled higher for their sixth gain in seven sessions, after the data revealing a fall in U.S. consumer confidence. December gold rose $6.20, or 0.3%, to settle at $1,911.90 an ounce.
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