Dow Rallies, Nasdaq Fizzles as October Kicks Off

Oil futures settled at their highest point in years as the U.S. and Canada struck a trade deal

Managing Editor
Oct 1, 2018 at 4:31 PM
facebook X logo linkedin


With the U.S. and Canada's successful trade deal emerging as the top headline today, stocks started the first session of the fourth quarter on strong footing. The Dow gapped higher to mark its third straight daily win, but the S&P and Nasdaq struggled to maintain their positive momentum. While the S&P managed a narrowly positive finish, the Nasdaq backed down from an early push above 8,100 to close modestly lower.

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

The Dow Jones Industrial Average (DJI - 26,651.21) finished 192.9 points, or 0.7%, higher. Of the 30 Dow components, 23 closed in the black, with Boeing (BA) taking the top spot with a 2.8% lift. Meanwhile, Intel (INTC) paced the seven losers with a 1.8% drop.

The S&P 500 Index (SPX - 2,924.59) added 10.6 points, or 0.4%. The Nasdaq Composite (IXIC - 8,037.30) was up 61 points at its session high, but ultimately closed down 9 points, or 0.1%.

The Cboe Volatility Index (VIX - 12.00) shed 0.1 point, or 1%.

Closing Indexes Summary Oct 1

NYSE and Nasdaq Stats Oct 1

5 Items on our Radar Today

  1. Facebook (FB) named Adam Mosseri as the new head of Instagram, following last week's sudden resignation of the social media site's co-founders Kevin Systrom and Mike Krieger. Mosseri has worked at Facebook since 2008, and will begin his new duties effective immediately. (CNBC)
  2. Another noteworthy leadership change today came from Pfizer (PFE), which named current Chief Operating Officer Albert Bourla as its new CEO effective in January -- replacing Ian Read after eight years on the post. Read, who will assume the role of executive chairman, is leaving the CEO role amid rising pressure from the White House over drug pricing. (Reuters)
  3. Analysts just shared 2 must-buy pharma stocks.
  4. General Electric scored its best day in months after a surprise CEO swap. 
  5. PepsiCo stock sees bearish attention ahead of earnings. 

There were no earnings of note today.

Unusual Options Activity Oct 1

Data courtesy of Trade-Alert

Oil Settles Near Four-Year High

Oil continued to outperform today, lifted by optimism over the NAFTA renegotiation and concerns over Iranian output. November-dated crude futures closed up $2.05, or 2.8%, at $75.30 per barrel -- the highest settlement for a front-month contract since November 2014. 

Gold futures struggled in today's session, as the U.S. dollar rose. December gold fell $4.50, or 0.4%, to finish at $1,191.70 an ounce.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI