S&P Snaps Best Streak of '15; Dow Jones Industrial Average Edges Higher

The Dow Jones Industrial Average (DJIA) explored a range of 119 points -- mostly to the upside -- helped by a big day for DuPont (NYSE:DD) and energy names. However, the blue-chip barometer was the exception to the rule, as lackluster trade data and a downwardly revised forecast from the International Monetary Fund (IMF) dragged the S&P 500 Index (SPX) to its first loss in six sessions. Meanwhile, a steep biotech slide sank the Nasdaq Composite (COMP), though the tech-rich index held on to its year-to-date gain. Looking ahead, traders will soon be dissecting comments from a noteworthy Fed member, as well as the unofficial start to earnings season.

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

• 25 stocks that have historically crushed it in the fourth quarter.
• The biotech that surrendered nearly half its value to explore single-digit territory for the first time in years.
• Was activist investor Carl Icahn behind today's big announcement from Freeport-McMoRan Inc (NYSE:FCX)?
• Plus ... How iPhones impacted the trade gap, Microsoft's new line of products, and big news in transcontinental partnerships.

 

The Dow Jones Industrial Average (DJIA - 16,790.19) spent time on both sides of breakeven, ultimately eking out a 13.8-point, or 0.1%, gain. Half of the Dow's 30 components ended higher, led by DuPont's 7.7% surge. UnitedHealth Group Inc (NYSE:UNH) paced the 15 laggards, dropping 3% as healthcare stocks took a dive.
 
The S&P 500 Index (SPX - 1,979.92), on the other hand, spent most of the day in the red, snapping its longest winning streak of the year. The Nasdaq Composite (COMP - 4,748.36) fared the worst of its peers, surrendering 32.9 points, or 0.7%, as biotech stocks swooned.

The CBOE Volatility Index (VIX - 19.40) struggled to pick a direction, settling with a 0.1-point, or 0.7%, drop to remain south of 20.

5 Items on Our Radar Today:

1. The U.S. trade gap jumped a month-over-month 15.6% in August, to a five-month high of $48.3 billion, the Commerce Department reported. A strong dollar sent U.S. exports to a three-year low, while demand for new Apple Inc. (NASDAQ:AAPL) iPhones bolstered imports.  (MarketWatch)
2. While traders in Asia cheered a Trans-Pacific Partnership (TPP), the European Union (EU) killed a 15-year trans-Atlantic data agreement that could impact several U.S. tech titans. The Obama administration weighed in, expressing concern about "the economic consequences" of the landmark ruling.  (Reuters; MarketWatch)
3. Microsoft Corporation (NASDAQ:MSFT) hosted an event in New York, unveiling a new line of products.
4. As oil prices rallied, call volume spiked on this pair of big-cap energy names.
5. Morgan Stanley weighed in on Tesla Motors Inc's (NYSE:TSLA) Model X sticker price.

Commodities:

 

Crude oil rocketed to a five-week high, after the Energy Information Administration (EIA) predicted declining oil output through the next year. In addition, Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Abdulla el-Badri said oil prices should bounce back amid a drop in investments, and opined that OPEC and non-OPEC members should collaborate to ease global supplies. By the close, the November-dated contract added $2.27, or 4.9%, to sit at $48.53 per barrel.

A softer dollar helped gold futures higher, with the December contract adding $8.80, or 0.8%, to sit at $1,146.40 an ounce.