Disney Sinks Dow Jones Industrial Average

Amazon vs. Wal-Mart; Plus, The Tweet Heard 'Round the Biotech World

by Kirra Fedyszyn

Published on Nov 27, 2015 at 1:42 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) flirted with breakeven throughout the day, but ultimately finished the shortened, light-volume session in the red, with a big loss from Walt Disney Co (NYSE:DIS) weighing down the blue-chip index. Traders awaited preliminary retail data for Black Friday, while eyeing next week's busy calendar for more clues on a December rate hike. The S&P 500 Index (SPX) managed to come out ahead in spite of a steep sell-off in China and falling energy stocks, while the Nasdaq Composite (COMP) managed another respectable gain today, thanks to strong numbers out of biotech.

Continue reading for more on today's market, including

The Dow Jones Industrial Average (DJIA - 17,798.49) slid 14.9 points, or 0.08%. Seventeen of the Dow's 30 components ended higher, led by a 0.7% gain at Goldman Sachs Group Inc (NYSE:GS). DIS paced the 12 declining blue chips, dropping 3%, while General Electric Company (NYSE:GE) finished flat. For the week, the Dow lost 0.1%.

The S&P 500 Index (SPX - 2,090.11) eked out a gain of 1.2 points, or 0.06%. The Nasdaq Composite (COMP - 5,1127.52) fared the best, tacking on 11.4 points, or 0.2%. For the week, the SPX and COMP added 0.05% and 0.4%, respectively.

The CBOE Volatility Index (VIX - 15.12) gave up 0.07 point, or 0.5%, bringing its weekly deficit to 2.3%.

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5 Items on Our Radar Today:

  1. Sales data from Thanksgiving and early Black Friday may not be what traders were hoping for, especially when it comes to brick-and-mortar stores. Meanwhile, NASA wants to take your attention off the shopping frenzy with its educational #BlackHoleFriday. (MarketWatch
  2. Protestors in Chicago planned a march through the city's ritziest streets, rallying against problems in the police department. The protest comes largely in response to the release of dashcam videos showing the shooting of 17-year-old Laquan McDonald, which occurred last year. (CNBC)
  3. Is ESPN stealing the "Star Wars" thunder?
  4. Here are 7 deadly trading sins you may have committed and some tips on how to avoid them.
  5. It has been a slow week on Wall Street, but take a look at what's coming up on next week's calendar.


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Commodities:

Crude oil for January was last seen down $1.09, or 2.5%, at $41.95 a barrel, thanks to a stronger dollar and discouraging data out of China. The global surplus continues to weigh in the price of oil, which is on pace for a slight 5-cent gain on the week.

The strong dollar also had a negative effect of the price of gold futures, with December-dated gold losing $13.80, or 1.3%, last seen at near a six-year low $1,056.20 an ounce. The malleable metal is on pace for a weekly loss of 1.8% -- a sixth straight weekly drop. 


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