The DJIA ended slightly lower, despite a solid gain from HD stock
The Dow Jones Industrial Average (DJIA) finished a wishy-washy session lower today, as the stock market reacted to Hurricane Harvey. While oil stocks followed crude prices lower, and insurance stocks -- including Dow component Travelers -- fell, fellow blue chip Home Depot was among the home improvement retailers that moved higher. Gasoline futures also moved higher in Harvey's wake, touching a two-year high. Unlike the Dow, though, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) ended in the black, with healthcare stocks among the day's winners.
Continue reading for more on today's market, including:
- The best and worst FAANG stocks to own in September.
- 20 more stocks to buy next month, if history is any indicator.
- Why Morgan Stanley slashed its price target on Ulta stock.
- Plus, Goldman analyst feels chilly toward Tesla; record highs expected for Netflix; and Fitbit's new smartwatch.
The Dow Jones Industrial Average (DJIA - 21,808.40) lost 5.3 points, or 0.02%, while 15 of its 30 stocks managed to end higher. Home Depot led the advancers with its 1.2% gain, while Travelers paced the 15 losers with a 2.6% loss.
The S&P 500 Index (SPX - 2,444.24) closed up 1.2 point, or 0.1%. The tech-heavy Nasdaq Composite (COMP - 6,283.02) gained 17.4 points, or 0.3%.
The CBOE Volatility Index (VIX - 11.32) ended up 0.04 point, or 0.4%.
5 Items on Our Radar Today
- Monday was Amazon's first day as the official owner of Whole Foods, and prices have already dropped up to 43% on dozens of items. Whole Foods -- which sports the nickname Whole Paycheck -- exhibited cuts on items like apples, avocados, and fish products. (Bloomberg)
- According to a study from Seguimiento Universidad de Navarra in Pamplona, Spain, people who drink four or more cups of coffee per day experience a 64% lower mortality rate, compared to people who rarely or never drink coffee. The study was done with close to 20,000 participants over a 10-year span. (MarketWatch)
- Goldman analyst remained icy on Tesla stock.
- Record highs are expected for Netflix stock.
- How Fitbit is taking aim at Apple.
There were no earnings of note today.
Data courtesy of Trade-Alert
Commodities
Hurricane Harvey shut down several Gulf Coast refineries, and weighed on expectations for U.S. oil demand. Even as gasoline futures touched two-year highs, October-dated crude dropped $1.30, or 2.7% to settle at $46.57 per barrel.
As the U.S. dollar fell to its lowest point since early 2015, gold skyrocketed to its highest point since last September. December-dated gold finished up an impressive $17.40, or 1.3%, at $1,315.30 per ounce.