The SPX and Nasdaq suffered a third straight loss
The Dow Jones Industrial Average (DJIA) finished lower today, surrendering more than 100 points, as blue-chip stock Walt Disney (DIS) slumped amid Twenty-First Century Fox (FOXA) buyout buzz. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also gave up early gains, suffering a third straight loss, as an early tech rebound lost steam. Looking ahead, the House tomorrow is expected to vote on a bill to fund the federal government through Dec. 22, though White House spokeswoman Sarah Sanders said a government shutdown is "always a possibility."
Continue reading for more on today's market, including:
- The Apple supplier flashing "buy."
- The best trading strategy for this housing ETF.
- Alibaba stock could have room to run.
- Plus, 2 skyrocketing drug stocks; a Lululemon earnings preview; and an outperforming chip stock in December.
The Dow Jones Industrial Average (DJIA - 24,180.64) finished 109.4 points, or 0.5%, lower. McDonald's (MCD) led nine Dow stocks higher with its 1.4% win, while Walt Disney (DIS) paced the 21 decliners with its 2.7% loss.
The S&P 500 Index (SPX - 2,629.57) finished 9.9 points, or 0.4%, lower. The Nasdaq Composite (IXIC - 6,762.21) lost 13.1 points, or 0.2%.
The CBOE Volatility Index (VIX - 11.33) lost 0.4 point, or 3%.
5 Items on Our Radar Today
- The price of single bitcoin rose 5.8% today, hitting a record of $11,855.73. Bitcoin's total market cap now surpasses $200 billion, after topping $100 billion less than two months ago. Last week, it was announced that bitcoin futures will begin trading soon. (MarketWatch)
- The International Olympic Committee is banning Russia from the 2018 Winter Olympics for "the systematic manipulation of the anti-doping rules," though some athletes will be allowed to compete under the Olympic flag. The suspension is based on findings from a 2016 commission that sought to examine Russian officials and institutions involved in organized doping. (ESPN)
- 2 drug stocks that took off today..
- Lululemon stock has a history of volatile post-earnings moves.
- This chip stock tends to outperform in December.
Data courtesy of Trade-Alert
Commodities
Crude slated for January delivery added 15 cents, or 0.3%, to close at $57.62 per barrel, after Goldman Sachs raised its 2018 forecast for oil.
February-dated gold futures fell $12.80, or 1%, to settle at $1,264.90 an ounce, and earlier touched a two-month low, as the U.S. dollar extended its rise.