S&P Suffers Longest Losing Streak of 2018 on Mueller Subpoena

The special counsel reportedly subpoenaed the Trump Organization

by Patrick Martin

Published on Mar 15, 2018 at 4:25 PM

The Dow finished over 100 points higher today, snapping a three-day losing streak thanks to a strong session from UnitedHealth (UNH) and upbeat economic data. However, the S&P and Nasdaq ended the day in the red, amid lingering concerns of a global trade war and reports that special counsel Robert Mueller recently subpoenaed the Trump Organization for documents related to Russia. It was the S&P's fourth straight down day, marking its longest losing streak of 2018.

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

  • Stocks rally when this team wins the NCAA tourney.
  • The buzz that sent Alibaba stock back above $200.
  • Buy the dip on this auto stock.
  • Plus, 3 industrial stocks on sale; 4 global ETFs targeted by options traders; and a winning tech stock trade.

The Dow Jones Industrial Average (DJI - 24,873.66) finished up 115.5 points, or 0.5%. Today saw 20 Dow components close in positive territory, led by McDonald's (MCD) with a 2.1% gain. Intel (INTC) was the worst performer, shedding 1.9%.

The S&P 500 Index (SPX - 2,747,33) gave back 2.2 points, or 0.1%. The Nasdaq Composite (IXIC - 7,481.74) lost 15.1 points, or 0.2%.

The Cboe Volatility Index (VIX - 16.59) finished 0.6 point, or 3.7%, lower. 

closing index summary march 15

nyse and nasdaq stats march 15

5 Items on Our Radar Today

  1. Toys 'R' Us officially filed for bankruptcy today. The fabled toy company will liquidate all 735 of its American stores, and anticipates running out of cash by May 2018. Poor holiday sales in 2017 were the nail in the coffin for the struggling stock, where it reported earnings roughly a half of what were expected. (USA Today)  
  2. According to a Bloomberg report, Walmart (WMT) is being sued by a former executive, claiming he was fired for raising concerns about unlawful conduct. The whistle-blower alleges Walmart pushed its "core values aside in its rush to win the e-commerce war" and demonstrate growth "by any means possible -- even, illegitimate ones." (Bloomberg)
  3. Buy these 3 industrial stocks, if past is prologue.
  4. Options traders are blasting these global ETFs
  5. Breaking down a winning Seagate Technology (STX) trade.

 corporate earnings march 15

unusual options volume march 15

Data courtesy of Trade-Alert

Oil Cautiously Higher, Gold Dips On Surging Dollar

April-dated crude futures rose 23 cents, or 0.4%, to end at $61.19 per barrel.The International Energy Agency (IEA) today predicted increasing global oil demand this year, but said supplies are growing at an even faster pace.

Gold futures for April delivery gave back $7.80, or 0.6%, to close at $1,317.80 an ounce, a two-week low. A stronger dollar weighed on the commodity, but geopolitical tensions between Russia and the West kept the safe haven's losses in check.


a schaeffer's exclusive

5 NEW STOCK PICKS

We're celebrating 38 years with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


What's Next for the American Wealth Gap
Porter Stansberry is predicting a major change in the American economic system.
Huawei Warning Smacks Cree Below Key Trendline
The LED specialist forecast a current-quarter loss on Huawei headwinds
INmune Bio Stock Gains on New "Buy" Rating
The shares hit a record low just last week
IRA/401K Investment Guide: 2019 Stock Market Crash
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.