Dow Jones Industrial Average Slides 166 Ahead of Presidential Debate

Twitter Inc's Latest Blue-Chip Suitor?

Sep 26, 2016 at 4:26 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) spent the session in the red, as traders shifted their attention from last week's Fed meeting to tonight's highly anticipated first U.S. presidential debate between candidates Hillary Clinton and Donald Trump. Even a sharp rise in crude oil prices amid an encouraging kickoff of to the Organization of the Petroleum Exporting Countries (OPEC) meeting in Algeria failed to translate into gains for stocks. Plunging bank stocks also applied pressure, after German-based Deutsche Bank AG (USA) (NYSE:DB) sank on an unconfirmed stiff arm from German Chancellor Angela Merkel.

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

The Dow Jones Industrial Average (DJIA - 18,094.83) dropped 166.6 points, or 0.9%, with Goldman Sachs Group Inc (NYSE:GS) leading 28 of the 30 blue chips lower on a 2.2% slide. Apple Inc. (NASDAQ:AAPL) and Procter & Gamble Co (NYSE:PG) were the two gainers, adding a respective 0.2% and 0.1% for the day. 

The S&P 500 Index (SPX - 2,146.10) gave back 18.6 point, or 0.9%, while the tech-heavy Nasdaq Composite (COMP - 5,257.49) slipped 48.3 points, or 0.9%. 

The CBOE Volatility Index (VIX - 14.50) climbed by 2.2 points, or nearly 18%.

indexes closing summary september 26

nyse and nasdaq stats september 26

5 Items on Our Radar Today

  1. After U.S. regulators charged Bank of America Corp (NYSE:BAC) with violating market access rules in its Merrill Lynch unit, causing "mini-flash crashes" in 15 stocks, the banking giant agreed to pay a fine of $15.5 million. However, the company failed to admit to wrongdoing, and argued it was unaware of any harm to clients. (Reuters)
  2. Yahoo! Inc. (NASDAQ:YHOO) is still under fire regarding a security breach that exposed some 500 million users. Senator Mark Warner, D-Va., has urged the U.S. Securities and Exchange Commission (SEC) to investigate the company's obligations to disclose the incident to the public and/or investors, as questions surround how long Yahoo knew of the attack before alerting users last week. (Reuters)
  3. The upbeat drug news that had call players swarming this soaring biotech stock.
  4. Why did gunmaker Smith & Wesson Holding Corp (NASDAQ:SWHC) plummet ahead of tonight debate?  
  5. Buyer beware: a solid first week of trading doesn't always bode well for Wall Street newcomers.

quarterly earnings september 26

unusual options activity september 26
Data courtesy of Trade-Alert


Oil prices popped today, with November-dated crude adding $1.45, or 3.3%, to settle at $45.93 per barrel. An informal meeting of OPEC members kicked off Algeria today, with the country's energy minister saying over the weekend that several output scenarios will be discussed.

With all eyes on tonight's U.S. presidential debate, gold futures edged higher. The December contract for gold added $2.40, or 0.2%, to close at $1,344.10 an ounce.

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View.


How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.