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Apple, Caterpillar Send Dow Down 177 Points

Gold fell for a second session in a row as the dollar strengthened

Managing Editor
Jan 29, 2018 at 4:30 PM
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U.S. stocks ended the day lower, retreating from last Friday's record highs. The Dow closed near its intraday low, as Apple (AAPL) slid on reports the tech giant had halved its iPhone X production target, and Caterpillar (CAT) sank after analysts expressed concern over margins and slow progress in North America Free Trade Agreement (NAFTA) negotiations. The Nasdaq and S&P ended the day lower, as well, while the 10-year Treasury yield jumped to its highest level since April 2014 and the VIX logged its biggest one-day percentage gain since Aug. 10.

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

  • 25 stocks to buy right now.
  • Call buyers pounced on Netflix amid the stock's historic month.
  • Electronic Arts stock was blasted by options bulls ahead of earnings.
  • Plus, 2 FAANG stocks at record highs; bullish attention for MasterCard and Visa; and the homebuilder to watch tomorrow.

The Dow Jones Industrial Average (DJI - 26,439.48) shed 177.2 points, or 0.7% for the day. Goldman Sachs (GS) led the five advancing blue chips with a 1.6% gain, while CAT paced the 25 losers with a 2.7% loss.

The S&P 500 Index (SPX -  2,853.53) lost 19.3 points, or 0.7%, while the Nasdaq Composite (IXIC - 7,466.51) gave back 39.3 points, or 0.5%.

The CBOE Volatility Index (VIX - 13.84) gained 2.8 points, or nearly 25% for the day, and touched an intraday high of 13.84 -- its loftiest mark since Dec. 1.

Closing Indexes Summary Jan 29

NYSE and Nasdaq Stats Jan 29

5 Items on Our Radar Today

  1. FBI Deputy Director Andrew McCabe is stepping down from his position, effective immediately. McCabe -- who was originally appointed acting director following former FBI Chief James Comey's firing, and has been the subject of many of President Donald Trump's recent criticisms -- will remain on the payroll until March, when he is eligible to retire with full benefits. (CNBC)
  2. Kirstjen Nielsen, head of the Department of Homeland Security, announced that the U.S. will begin rolling out "new security measures" regarding incoming applicants from countries it deems high risk, in an effort to "improve security." While no details were given, the Trump administration previously halted refugee admissions from 11 countries, including North Korea, Yemen, Iraq, and Sudan, pending a 90-day security review. (Reuters)
  3. 2 FAANG stocks at record highs ahead of earnings.
  4. Bullish analysts chimed in on MasterCard and Visa stocks ahead of earnings.
  5. PulteGroup reports earnings tomorrow, and options bears targeted the homebuilder ahead of the event.

Corporate Earnings Jan 29

Unusual Options Activity Jan 29

Data courtesy of Trade-Alert

Gold Takes Second Loss in a Row

A strong dollar and concerns over increased U.S. output sent March-dated crude lower today. Oil futures finished the day down 58 cents, or 0.9%, at $65.56 per barrel.

February-dated gold fell for a second session today, as the greenback strengthened. Gold futures finished the day down $11.80, or 0.9%, to settle at $1,340.30 an ounce.


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