S&P Ekes Out a Win After Run to Record High

Gold and oil both broke daily win streaks

Managing Editor
Aug 28, 2018 at 4:28 PM
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U.S. stocks started the session higher, but lost steam as the day progressed. The S&P earlier surged past 2,900 for the first time ever, before ending the day with a slight gain. The Dow and Nasdaq also ended a wobbly session in the black, with the latter touching another all-time high north of 8,000. Focus still remains on President Donald Trump's efforts to push NAFTA into the past, with the White House now zeroing in on getting Canada on board, following yesterday's trade deal with Mexico.

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

The Dow Jones Industrial Average (DJI - 26,064.02) picked up 14.4 points, or 0.06%. Walmart (WMT) led the 12 advancing blue chips with a 1.6% gain, while Boeing (BA) paced the 18 losers with a 0.7% drop.

The S&P 500 Index (SPX - 2,897.52) gained 0.8 points, or 0.03%, after earlier touching a record high of 2,903.77, while the Nasdaq Composite (IXIC - 8,030.04) saw a gain of 12.1 points, or 0.2%, after hitting an all-time peak of 8,046.31.

The Cboe Volatility Index (VIX - 12.50) added 0.3 point, or 2.8%.

Closing Indexes Summary Aug 28

NYSE and Nasdaq Stats Aug 28

5 Items on our Radar Today

  1. Financial study site GOBankingRates shared a survey revealing that despite the high cost of housing, it was the outlandish cost of living that caused residents of the state of New York the most financial stress. A separate survey by the company also placed New York as the fifth most expensive U.S. state to live in. (CNBC, GOBankingRates)
  2. President Trump today accused Alphabet (GOOGL) subsidiary Google of having a politically biased search engine, hiding "fair media" coverage of his administration. Despite the company's denial of the claim, Larry Kudlow, the White House's economic adviser, said an investigation will be opened. (Reuters
  3. Founder and CEO Bernie Schaeffer shared the gold signal turning everyone into a contrarian. 
  4. The shoe retailer that hit a 3-year high on an impressive beat-and-raise.
  5. Lululemon (LULU) stock landed a bullish analyst note before earnings.

Corporate Earnings Aug 28

Unusual Options Activity Aug 28

Data courtesy of Trade-Alert

Oil, Gold Close Lower

Crude futures fell in today's trading, as speculators took profits ahead of tomorrow's weekly inventories report. October-dated oil shed 34 cents, or 0.5%, to settle at $68.53 per barrel.

Despite a lower dollar, gold finished the day in the red. December-dated gold lost $1.60, or 0.1%, to settle at $1,214.40 an ounce.



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