Concerns over the iPhone 8 and Apple Watch sparked Apple's worst day since August
After spending most of the day weighed down by Apple (AAPL) stock -- which suffered its worst day since August -- the Dow Jones Industrial Average (DJIA) managed to erase a triple-digit deficit to eke out a small gain, extending its winning streak to a fifth session. Thanks to impressive earnings from Travelers (TRV) and Verizon (VZ), the index secured a fresh record close. The S&P 500 Index (SPX) also managed to claw its way to a record closing high at the buzzer. However, the Nasdaq Composite (IXIC) didn't fare so well as Black Monday turned 30, dragged down by a pullback in tech stocks.
Continue reading for more on today's market, including:
- Buy calls on these 2 biotech stocks, if past is prologue.
- How options traders scored a profit on this Dow stock.
- Why options players are bracing for the worst ahead of General Electric earnings.
- Plus, how one speculator scored big on Valeant; behind Adobe Systems stock's record high; and why Juno Therapeutics stock could be flashing 'buy.'
The Dow Jones Industrial Average (DJIA - 23,163.04) ended with a gain of 5.4 points, or 0.02%, after being down more than 100 points at its session low. While TRV led the pack of 20 Dow gainers with an 2.4% gain, AAPL paced the 10 losers with a 2.4% drop.
The S&P 500 Index (SPX - 2,562.10) also erased an early drop, ending up 0.8 point, or 0.03%. The Nasdaq Composite (IXIC - 6,605.07) ended down 19.2 points, or 0.3%.
The CBOE Volatility Index (VIX - 10.05) lost 0.02 point, or 0.2%.
5 Items on Our Radar Today
- Cities across the country are competing to be chosen as home for Amazon's second headquarters, which will create an estimated 50,000 jobs in the selected city. New Jersey even offered $7 billion in tax breaks to the online retailer, but Moody's expects Austin -- home to Amazon-owned Whole Foods -- to win. (Reuters)
- Under Armour launched its first subscription service called ArmourBox. Subscribers will receive outfits on a regular basis that are hand-selected by stylists to fit their lifestyle and sporting needs. (CNBC)
- How a put trader bagged a huge profit from Valeant stock's slide.
- Behind Adobe Systems stock's record high.
- Inside Juno Therapeutics' latest 'buy' signal.
Data courtesy of Trade-Alert
Commodities
Crude closed lower today, despite concerns about reduced production from the Iraqi Kurdish pipeline. November-dated oil futures ended down 75 cents, or 1.4%, at $51.29 per barrel.
Meanwhile, gold closed higher today, as the U.S. dollar's rally lost steam, and as traders sought safety in tangible assets. December-dated gold ended up $7, or 0.6%, at $1,290 an ounce -- breaking its three-day losing streak.