Dow, Nasdaq Shed Triple Digits as Stocks Cool Off
Stocks are stuck in the red as the new year approaches, with no Santa Claus rally in sight. The Dow shed 418 points today -- though pared its session lows of over 700 points -- for a second-straight triple-digit drop. The S&P 500 and Nasdaq each logged a third-straight loss, with both indexes retreating further below psychologically significant levels.
Trading volumes are subdued with one day left in 2024, but that didn't stop Wall Street's "fear gauge," the Cboe Volatility Index (VIX), from picking up a third-straight win. What's more, the 10-year Treasury yield marked its steepest fall in over a month, settling at 4.54%.
Continue reading for more on today's market, including:
- Steer clear of this drug stock next month.
- Defense stock shrugs off today's selloff.
- Plus, BA's latest headwind; BTC buys backfire; and a "buy" signal for Chipotle stock.
5 Things to Know Today
- The New York Stock Exchange (NYSE) will close Jan. 9 to honor late former President Jimmy Carter. (CNBC)
- Natural gas futures are on the rise as a frigid January looms. (Wall Street Journal)
- Tragedy strikes Boeing stock once again.
- Cryptocurrency stock suffers Bitcoin (BTC) setback
- Signal: Target Chipotle stock right now.
There were no earnings of note today.
Commodities Quiet to End the Year
Oil prices gained today, but were overshadowed by a 20% rise in natural gas prices. February-dated West Texas Intermediate (WTI) crude added 39 cents or 0.6%, to settle $70.99 per barrel.
Gold prices fell, shrugging off retreating bond yields. Gold for January delivered lost 0.6% to settle around $2,616.40 an ounce. .
