Dow Jones Industrial Average Dips; Payrolls On Deck

5 Stocks Moving Ahead of Hurricane Matthew

Oct 6, 2016 at 4:31 PM
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The Dow Jones Industrial Average (DJIA) was down more than 100 points at its intraday low, but eventually pared most of its losses -- and briefly turned higher -- by the close. A strong jobless claims report bolstered expectations for a fourth-quarter rate hike from the Fed, though the real test will come courtesy of tomorrow's highly anticipated nonfarm payrolls report. However, a surge in crude oil futures helped stocks recover most of their losses by the close, with the S&P 500 Index (SPX) even eking out a win.

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

The Dow Jones Industrial Average (DJIA 18,268.50) ended the day down 12.5 points, or 0.1%. Home Depot Inc (NYSE:HD) led the 13 Dow winners, finishing 2% higher, while American Express Company (NYSE:AXP) brought up the rear among the 17 losers, slipping 3.8%. 

The S&P 500 Index (SPX - 2,160.77) managed to gain 1 point, or 0.1%, while the Nasdaq Composite (COMP - 5,306.85) followed the Dow down, losing 9.2 points, or 0.2%.

The CBOE Volatility Index (VIX - 12.84) gave up 0.2 point, or 1.2%.

Indexes Closing Summary October 6
NYSE and Nasdaq Stats October 6

5 Items on Our Radar Today

  1. Blood-testing company Theranos announced it would be reducing its workforce by over 40%, as well as closing its clinical labs and blood-test centers. The privately owned company was once valued at $9 billion, before its blood test accuracy was called into question and the Centers for Medicare & Medicaid Services revoked its certification and approval to receive payments from the government. (NPR)
  2. Snapchat parent Snap Inc. is rumored to be preparing a March IPO that would value the company at $25 billion, which would make the company the largest public offering debut since Alibaba Group Holding Ltd's (NYSE:BABA) 2014 debut. (Business Insider)
  3. Will Twitter Inc (NYSE:TWTR) ever actually find a buyer?
  4. Why one analyst thinks combining two "high cash burn businesses" may not be the greatest idea for Tesla Motors Inc (NASDAQ:TSLA).
  5. BlackBerry Ltd (NASDAQ:BBRY) is the latest smartphone maker to garner attention over a new release.

Corporate Earnings October 6
Unusual Options Volume October 6
Data courtesy of Trade-Alert

Commodities:

November-dated crude managed to break the critical $50 level to finish the day up 61 cents, or 1.2%, at $50.44 per barrel -- a four-month high. Black gold's run higher was fueled by continued production-cut talks among the Organization of the Petroleum Exporting Countries (OPEC) members, and expectations for supply disruptions in the wake of Hurricane Matthew. 

Meanwhile, gold hit four-month lows, due to a stronger dollar and encouraging economic data. December-dated gold continued its jaunt lower for the fourth day in a row to end down $15.70, or 1.2%, at $1,253.00 per ounce.

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