Dow Jones Industrial Average Sticks Near Breakeven; Crude, Gold Continue Sell-Off

A number of stocks moved sharply in the aftermath of earnings

Nov 4, 2014 at 4:25 PM
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The Dow Jones Industrial Average (DJI) spent time on both sides of breakeven, as speculators trod lightly ahead of tonight's midterm election results. However, despite the continued sell-off in crude (which crushed energy stocks) and a mostly disappointing round of economic data, the blue-chip index managed to close with a nearly 18-point gain. The Dow's peers weren't so fortunate, as both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) finished south of breakeven -- albeit slightly. Elsewhere, gold fell for a fifth day in a row, as Chinese demand continued to shrink, and traders prepared for future stimulus from the European Central Bank (ECB), which meets Thursday.

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

The Dow Jones Industrial Average (DJI - 17,383.84) ended an up-and-down session on the positive side of the flat line, adding 17.6 points, or 0.1%. Procter & Gamble Co (NYSE:PG) paced the 17 blue-chip gainers with a 1.4% advance, while Caterpillar Inc. (NYSE:CAT) led the Dow's 12 losers, giving back 1.6%. General Electric Company (NYSE:GE) closed flat.

The S&P 500 Index (SPX - 2,012.10) and Nasdaq Composite (COMP - 4,623.64) both finished slightly below breakeven. The former ended 5.7 points, or 0.3%, lower, while the latter slid 15.3 points, or 0.3%.

The CBOE Volatility Index (VIX - 14.89) edged up 0.2 point, or 1.1%, but again failed to topple 15 at the close.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. The country's international trade deficit expanded by 7.6% in September to $43.03 billion, hurt by a five-month low in exports, the Commerce Department said; economists had expected the deficit to narrow slightly. Factors such as a strong dollar and weakening overseas demand weighed on exports. In other economic news, factory orders dipped for the second consecutive month in September -- though the drop was in line with the Street's projections. (CNBC)
  2. Toyota Motor Corp (ADR) (NYSE:TM) is recalling nearly 6,000 vehicles, due to potential steering defects. The cars -- TM's 2014 Camry and Avalon models -- are mostly located in the U.S., though some were sold in Canada and the Middle East. The manufacturer is not currently aware of any accidents, injuries, or fatalities associated with the defect. (Reuters)
  3. A closer look at 2 stocks that hit post-earnings lows.
  4. This outperforming coffee concern finally got some love from Wall Street.
  5. A number of bearish bettors likely cheered as JPMorgan Chase & Co. (NYSE:JPM) got hit with bad news from the Department of Justice.
EARNINGS

For a look at today's options movers and commodities activity, head to page 2.

STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

Commodities:

Crude futures plummeted to their lowest level since October 2011 -- and extended their daily losing streak to four -- as cuts to Saudi Arabia's U.S. oil prices continued to weigh on liquid gold. By the close, December-dated crude was down $1.59, or 2%, at $77.19 per barrel.

December-dated gold edged lower, as traders shied away from safe-haven investments amid rising expectations the ECB will introduce additional stimulus measures to boost the eurozone economy. At session's end, the malleable metal was off $2.10, or 0.2%, to settle at $1,167.70 per ounce -- its fifth straight daily loss.

 

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