Nasdaq Nabs Record Close as VIX Sinks

All three major indexes finished higher on Wednesday, boosted by a new coronavirus vaccine manufacturing deal between Johnson & Johnson (JNJ) and the U.S. government, a blowout earnings report from Walt Disney (DIS), and finally some progress on the second round of coronavirus relief. As a result, the Nasdaq Composite nabbed a new closing high, while both the Dow Jones Industrial Average and the S&P 500 locked up a four-day winning streak.

Meanwhile, the White House seemed more open to a stimulus package compromise, reportedly offering to extend unemployment insurance at a reduced rate until the end of the year. All of the optimism led Wall Street's "fear gauge," the Cboe Volatility Index (VIX), to its fourth straight loss and lowest close since Feb. 21.

Continue reading for more on today's market, including:

    • Online dating giant Match Group was red-hot after a blowout earnings report.
    • This gold stock has more than doubled, and is one of the best to own in August.
    • Plus, this alternative meat stock could be on the rebound; a drugstore chain beat Wall Street's estimates; a gene therapy stock is flashing a historically bullish signal.

    The Dow Jones Industrial Average (DJI - 27,201.52) gained 373.1 points, or 1.4% for the day. Walt Disney (DIS) finished with a 8.8% jump, pacing the 19 gainers. Walmart paced the 11 laggards with a 1.4% fall.

    Meanwhile, the S&P 500 Index (SPX - 3,327.77) added 21.3 points, or 0.6% for the day. The Nasdaq Composite (IXIC - 10,998.40) rose 57.2 points, or 0.5% for today's session.

    Lastly, the Cboe Volatility Index (VIX - 22.99) lost 0.8 point, or 3.2%, for the day.


    Closing summary August 5

    nyse nas august 5

    1. Healthcare giants Teladoc and Livongo merged into a $37 billion remote-health company, marking the third-largest corporate deal in the U.S. this year. (CNBC)
    2.  U.S. officials denied claims that the explosion in Lebanon was an attack, after President Donald Trump indicated that may have been the case. (MarketWatch)
    3. Beyond Meat stock is weighed down after its latest quarterly report.
    4. This drugstore chain is ready to handle COVID-19 vaccines when the time comes.
    5. A gene therapy stock could soon be reaching previously unseen heights.

      Earnings August 5

      Unusual Options august 5

      Data courtesy of Trade-Alert

      Gold Blows Past Historical High

      Oil futures posted higher gains than they have in the past five months, after the Energy Information Administration reported U.S. crude inventories data dropped off last week. September-dated crude rose 49 cents, or 1.2%, to end at $42.19 a barrel. 

      Gold prices remain uncapped, clocking in their seventh record in eight sessions, making Tuesday's historical record of $2,000 now seem lackluster. Gold for December, now the most-active contract, rose $34.70, or 1.4%, to settle at $2,049.30 an ounce.

      The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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