Nasdaq, S&P End Higher for the First Day in Five

Apple has been thrown into the trade conversation

Sep 10, 2018 at 4:32 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) was up more than 100 points early on, but those gains quickly evaporated, mainly due to weakness in Apple (AAPL) and UnitedHealth (UNH) -- overshadowing Home Depot's (HD) rally to record levels and a big surge for Nike (NKE) in the process. Meanwhile, a broad rebound in tech stocks helped the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) comfortably snap their four-session losing streaks.

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

  • Why Snap stock just recorded its lowest close ever.
  • Call traders responded to another AMD bull note.
  • Kroger stock grabbed some pre-earnings love.
  • Plus, Tesla shares bounce; analysts go bearish on one restaurant stock; and an energy stock that could break out.

The Dow Jones Industrial Average (DJI - 25,857.07) started hot but spent the rest of the day moving lower, finishing down 59.5 points, or 0.2%. Of the Dow's 30 components, 17 closed higher, led by NKE's 2.2% gain. Meanwhile, UNH was the biggest loser, dropping 3.2%.

The S&P 500 Index (SPX - 2,877.13) rose 5.5 points, or 0.2%, and the Nasdaq Composite (IXIC - 7,924.16) added 21.6 points, or 0.3%.

The Cboe Volatility Index (VIX - 14.16) closed down 0.7 point, or 4.8%.

Closing Indexes Summary Sept 10

NYSE and Nasdsaq Sept 10

5 Items on our Radar Today

  1. Hurricane Florence is now a Category 4 storm, and North Carolina cities are beginning to announce mandatory evacuations. The storm is expected to hit the U.S. East Coast later this week. (USA Today)
  2. Miners have unearthed a once-in-a-lifetime gold deposit in Australia. The find has uncovered nearly $11 million over the precious metal through four days. (CNBC)
  3. Tesla stock soars on analyst "buy" recommendation.
  4. Analysts are calling a top on this restaurant stock.
  5. The oil-and-gas stock that could break out soon.

Unusual Options Volume Sept 10

Data courtesy of Trade-Alert

Oil Prices Slide on Bloomberg Data, Florence

Numbers of out Bloomberg hinting at another rise in U.S. crude inventories and concern that Florence could sap energy demand weighed on oil prices today. October-dated crude futures fell 21 cents, or 0.3%, to $67.54 per barrel.

Gold prices weren't able to take advantage of a weaker dollar today. December-dated gold fell 60 cents, or 0.05%, to end at $1,199.80 per ounce.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 
Special Offers from Schaeffer's Trading Partners