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%.
- 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)
- Amazon workers in Germany are striking during busy "Prime day." After the U.S., Germany is the company's largest market. (MarketWatch)
- Unpacking Johnson & Johnson's paused vaccine trial.
- Retail stock boosted by Nike (NKE) sales.
- One of the big bank stocks kicking off earnings season.
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.
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