Stocks Take a Breather, Log First Losses in Five Days

The Dow closed 157 points lower today, snapping a four-day win streak as the latest earnings season gets underway. Investors are bracing for the reality that a second coronavirus stimulus package will likely not come before the election, while vaccine sentiment weighed on the market, with drugmakers Eli Lilly (LLY) and Johnson & Johnson (JNJ) both pausing potential vaccine trials due to complications. Meanwhile, the S&P 500 and Nasdaq closed in the red as well, with the latter giving back marginal gains just before close. 

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

  • See what the pivot to streaming did for Disney stock.
  • Analyst: strong Q3 expectations make Ford stock intriguing. 
  • Plus, pharma giant falters despite earnings beat; double upgrade boosts Foot Locker stock; and an early post-earnings winner.

The Dow Jones Industrial Average (DJI - 28,679.81) lost 157.7 points, or 0.6% today. Disney (DIS) rose to the top of the Dow with a 3.2% win, while The Travelers (TRV) landed at the bottom with a 3.1% loss. 

Meanwhile, the S&P 500 Index (SPX - 3,511.93) fell 22.3 points, or 0.6% for the day, while the Nasdaq Composite (IXIC - 11,863.90) shed 12.4 points, or 0.1%.

Lastly, the Cboe Volatility Index (VIX - 26.07) added 1 point, or 4%.

Closing Summary 1013

NYSE Nasdaq 1013
  1. Ireland has presented a budget that it has named "the largest in the history of the state." As the country faces a myriad of potential economic threats, the budget is one of various steps to support the country. (CNBC)
  2. Amazon workers in Germany are striking during busy "Prime day." After the U.S., Germany is the company's largest market. (MarketWatch)
  3. Unpacking Johnson & Johnson's paused vaccine trial
  4. Retail stock boosted by Nike (NKE) sales. 
  5. One of the big bank stocks kicking off earnings season.

Earnings 1013

Options Activity 1013

Gold Snaps Three-Day Win Streak

Oil futures settled higher, after Chinese crude imports for September rose 2% from August. November-dated crude rose 77 cents, or around 2%, to settle at $40.20 a barrel.

Gold futures fell after three straight wins amid stimulus uncertainty. December gold fell $34.30, or 1.8%, to settle at $1,894.60 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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