Tech Drags Dow, Nasdaq Lower

Gold closed at a multi-month high

Managing Editor
Oct 15, 2018 at 4:29 PM
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U.S. stocks struggled for direction today, before ultimately closing lower. Specifically, the Nasdaq ended lower as tech stocks weighed heavy, including FAANG member Apple (AAPL). Tech also succeeded in dragging the Dow and S&P into the red by the closing bell. As such, and in light of a weaker-than-expected report on September retail sales, many traders sought safety in gold. Looking ahead, several blue chips will step into the earnings spotlight tomorrow, including Goldman Sachs (GS) and IBM Corp (IBM).

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

The Dow Jones Industrial Average (DJI - 25,250.55) lost 89.4 points, or 0.4%, for the day. Ten Dow stocks closed higher, with Walgreens Boots Alliance (WBA) taking the lead on a 1.7% gain. Pacing the 20 losers was Cisco Systems (CSCO), which closed 2.3% lower.

The S&P 500 Index (SPX - 2,750.79) gave up 16.3 points, or 0.6%, while the Nasdaq Composite (IXIC - 7,430.74) shed 66.2 points, or 0.9%, on the day.

The Cboe Volatility Index (VIX - 21.30) lost just 0.01 point, or 0.05%, for the day.

Closing Indexes Summary Oct 15

NYSE and Nasdaq Oct 15

5 Items on our Radar Today

  1. Sears (SHLD) unsurprisingly filed for bankruptcy protection, and simultaneously announced the resignation of CEO Eddie Lampert. The troubled department store giant is planning to shutter 142 stores later this year. (CNBC)
  2. Financial institution Fidelity Investments today launched a digital currency business. Chairman and CEO Abigail P. Johnson said the company's goal is to make assets such as bitcoin "more accessible to investors." (MarketWatch)
  3. Boeing stock may be on sale at current levels.
  4. This fast good giant just surged on an upgrade.
  5. FAANG stock Netflix was slammed with price-target cuts ahead of earnings.

Corporate Earnings Oct 15

Unusual Options Activity October 15

Data courtesy of Trade-Alert

Gold Soars to Multi-Month Highs

Crude futures finished higher amid U.S. tensions with Saudi Arabia. November-dated oil added 44 cents, or 0.6%, to close at $71.78 per barrel.

Gold closed higher in today's session, as investors sought safety in tangible assets. December-dated gold added $8.30, or 0.7%, to close at $1,230.30 per ounce -- its highest close since July.


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