Dow Jones Industrial Average Win Streak Ends with Brussels Attacks

The Biotech That Stole Valeant's Spotlight

by Josh Selway

Published on Mar 22, 2016 at 4:30 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) attempted to fight back from its early deficit, but stocks were limited in the aftermath of the deadly attacks in Brussels. As such, the Dow snapped its seven-day win streak -- its best since October -- though the Nasdaq Composite (COMP) ​closed higher for a fifth straight session. Elsewhere, so-called "safe-haven" assets enjoyed a big day amid the growing fear, with gold futures surging higher.


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

The Dow Jones Industrial Average (DJIA - 17,582.57) made a brief visit in positive territory this afternoon, but the DJIA eventually settled down 41.3 points, or 0.2%, leaving its win streak at seven sessions. Twelve of the 30 Dow components closed higher, led by Pfizer Inc. (NYSE:PFE) and UnitedHealth Group Inc (NYSE:UNH), which both closed 1% higher. Goldman Sachs Group Inc's (NYSE:GS) 1.3% drop paced the losers. 

The S&P 500 Index (SPX - 2,049.80) dropped 1.8 points, or 0.1%. The Nasdaq Composite (COMP - 4,821.66), meanwhile, closed with a 12.8-point, or 0.3%, win -- its fifth straight. 

The CBOE Volatility Index (VIX - 14.17) bottomed at 13.75 -- matching its year-to-date low -- but still closed 0.4 point, or 2.8%, higher on the day. 


160322recap1

160322recap2


5 Items on Our Radar Today:

  1. The Islamic State has claimed responsibility for the attacks in Brussels that killed more than 30 people on Tuesday. The city's threat level was immediately raised following the deadly explosions -- which put pressure on travel stocks -- while police have released a photo of a suspect possibly involved in the incident. (Reuters)

  2. Rob Ford, the former mayor of Toronto, has died at the age of 46. Ford, who gained widespread notoriety for his alleged drug usage, had been battling an aggressive form of cancer. (CNN)

  3. The $2.5 million deal that sent Lumber Liquidators Holdings Inc (NYSE:LL) soaring. 

  4. The Dow stock moving in on Cuba.

  5. Should Transocean LTD (NYSE:RIG) option traders be worried?


160322recap3

160322recap4
Data courtesy of Trade-Alert

Commodities:

While crude oil futures managed to pare most of their earlier losses, the violence in Europe kept the front-month May contract below breakeven. At the close, crude dated for May delivery had lost 7 cents, or 0.2%, to land at $41.45 per barrel. 

Gold, meanwhile, pushed higher, with traders rushing to risk-averse assets following the Brussels attacks. The April-dated gold contract was up $4.40, or 0.4%, at $1,248.60 per ounce at the close. 


A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter