Dow Jones Industrial Average Ends Higher, Nasdaq Extends Losing Streak

The Most Bearish Options Backdrop In Years; Plus, 24 Stocks For October

Sep 29, 2015 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) ended a rather wishy-washy day in the black, while the S&P 500 Index (SPX) snapped its losing streak. However, the Nasdaq Composite (COMP) closed in negative territory for the sixth straight session, as biotechs reversed lower. Traders were also put off by heavy losses overseas, but were encouraged by a surprisingly strong report on consumer confidence. For tomorrow, Fed Chair Janet Yellen will highlight a full day of economic data when she speaks at the St. Louis Fed community banking conference. 


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


The Dow Jones Industrial Average (DJIA - 16,049.13) traded on both sides of breakeven, eventually landing 47.2 points, or 0.3%, higher. Of the Dow's 30 components, 21 finished higher, led by 3M Co's (NYSE:MMM) 2.3% advance. Apple Inc. (NASDAQ:AAPL) was by far the biggest loser, sliding 3%. 

The S&P 500 Index (SPX - 1,884.09) closed higher as well, picking up 2.32 points, or 0.1%. The Nasdaq Composite (COMP - 4,517.32), on the other hand, finished 26.7 points, or 0.6%, in the red. 

The CBOE Volatility Index (VIX - 26.83) suffered a 0.8-point, or 2.9%, loss, but remains above its 10- and 20-day moving averages. 



5 Items on Our Radar Today:

  1. Google Inc (NASDAQ:GOOGL) today unveiled five new products, including two Nexus phones. The phones, known as 5X and 6P, will cost $379 and $499, respectively, and are available for preorder at several Google stores. The company also released two streaming devices and a tablet. (CNBC​) 
  2. German publisher Axel Springer has purchased a majority stake in financial news site Business InsiderThe deal values Business Insider at roughly $390 million. Axel Springer previously owned 3% of the company. (USA Today)
  3. The ambitious bets bears are placing on Apple Inc. (NASDAQ:AAPL). 
  4. What caused the sell-off in casino names
  5. Credit Suisse is encouraged by this blue chip's recent fundamental changes





Crude oil moved higher today, with many on the Street anticipating a decline in Wednesday's domestic inventory report. Crude dated for November closed 80 cents, or 1.8%, higher at $45.23 per barrel. 

Gold once again closed lower, following Monday's steep slide. December-dated gold dropped $4.90, or 0.4%, to end at $1,1260.80 per ounce.


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