Dow Jones Industrial Average Begins 4Q With a Loss

What Mid-Cap Strength Means for 4Q Returns

Oct 3, 2016 at 4:25 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) spent the day lower, paring Friday's gains to begin the first day of the fourth quarter in the red. Along with mixed auto sales data, stocks reacted to an unexpected drop in August construction spending. Meanwhile, Markit's purchasing managers manufacturing index (PMI) hit a three-month low in September, but the Institute for Supply Management's (ISM) manufacturing index provided some relief, coming in higher than expected, at 51.5%.

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

The Dow Jones Industrial Average (DJIA 18,253.85) fell 54.3 points, or 0.3%, with DuPont (NYSE:DD) leading nine of 30 Dow components higher, gaining 1.3%. Meanwhile, Travelers Companies Inc (NYSE:TRV) led the 21 Dow losers, dropping 1.4%.

The S&P 500 Index (SPX - 2,161.20) drooped 7.1 points, or 0.3%, as the Nasdaq Composite (COMP - 5,300.87) followed suit, giving up 11.1 points, or 0.2%, for the day.

The CBOE Volatility Index (VIX - 13.57) added 0.3 point, or 2.1%.

Indexes Closing Summary October 3
NYSE and Nasdaq Stats October 3

5 Items on Our Radar Today

  1. Hedge-fund heavyweights Janus Capital Group Inc (NYSE:JNS) and Henderson Group announced a merger of equals on Monday. The new company, Janus Henderson Global Investors, will manage $320 billion in assets, and have a market capitalization of $6 billion. (Forbes)
  2. The U.S. announced it had suspended talks with Russia on a Syrian ceasefire. U.S. officials were critical of the continued siege of Syrian civilian targets, including hospitals, and said Russia was doing little to uphold its end of the ceasefire agreement. "Everybody's patience with Russia has run out," said White House Press Secretary Josh Earnest. (CNN)
  3. The biotech that more than doubled in September.
  4. Darden Restaurant (NYSE:DRI) dropped on negative analyst attention ahead of earnings.
  5. The new hit show that had Netflix, Inc. (NASDAQ:NFLX) breaking the century mark.

Unusual Options Volume October 3
Data courtesy of Trade-Alert


November-dated crude ended the day up 57 cents, or 1.2%, at $48.81 per barrel. Today's gains came after Iran called on other countries to join the Organization of the Petroleum Exporting Countries (OPEC) in taking action to raise the price of oil and ensure market stability. 

December-dated gold continued its jaunt lower, losing $4.40, or 0.3%, to finish the day at $1,312.70 an ounce. The precious metal was weighed down by a stronger dollar, which turned higher on Britain's decision to start "Brexit" proceedings no later than March 2017.

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

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI