Stocks Close Lower as Healthcare Weighs Heavy

Gold and oil both closed lower

by Emma Duncan

Published on Apr 17, 2019 at 4:34 PM

Stocks started the day higher thanks to positive Chinese economic data and tech sector strength. However, markets swung lower as the healthcare sector continued to sell off on potential policy changes taking place in Washington D.C. Negative earnings reactions for heavyweights IBM (IBM) and Netflix (NFLX) only stoked the bearish flames, with the Dow, S&P 500, and Nasdaq all settling in the red -- even as the Nasdaq-100 nabbed a new record close.

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

The Dow Jones Industrial Average (DJI - 26,449.54) lost 3.1 points, or 0.01%. Intel outpaced the 18 Dow gainers, adding 3.3%. Merck & Co (MRK) paced the remaining losers with its 4.7% drop.

The S&P 500 Index (SPX - 2,900.45) shed 6.6 points, or 0.2%, while the Nasdaq Composite (IXIC - 7,996.08) gave up 4.2 points, or 0.05%, and closed back below the 8,000 mark.

The Cboe Volatility Index (VIX - 12.60) added 0.4 point, or 3.5%.

closing indexes summary april 17

nyse and nasdaq stats april 17

5 Items on our Radar Today

  1. The Fed's Beige Book underscored a tight U.S. labor market, which firms reacted to by boosting benefits and bonuses. The report also showed wages rose at a modest pace in most districts, but indicated U.S-China trade tensions negatively affected manufacturing activity. (Reuters)
  2. A new Samsung phone model, the Galaxy Fold, has already broken for a handful of users, despite its lofty $1,980 price point. Only given to gadget reviewers so far, the phone's multiple screens have been disconnecting and flashing on and off, while folding on what one consumer said was a faulty hinge. (CNBC)
  3.  This signal points to a possible Qualcomm stock pullback.
  4.  Puts popped on Expedia stock after one airliner pulled its fares.
  5.  Cronos stock was hit with a bearish analyst note. 

corporate earnings april 17

unusual options activity april 17

Data courtesy of Trade-Alert

Gold Marks Third Straight Decline

Oil slipped as global output concerns offset a surprise fall in domestic crude inventories last week. May-dated crude shed 29 cents, or 0.5%, settling at $63.76 per barrel.

Gold marked its third straight close in the red, as upbeat economic data from China lessened the metal's safe-have appeal. June-dated gold closed down 40 cents at $1,276.80 per ounce -- its lowest settlement of 2019.



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


The "Trick" Used By the World's Wealthiest
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
2 Retail Stocks at New Lows Today
Escalating U.S.-China trade tensions are creating stiff headwinds
Stocks Erase Weekly Gains After Trump Reacts to China Retailiatory Tariffs
A brief yield-curve inversion also spooked Wall Street
The "Trick" Used By the World's Wealthiest
A simple way to stop picking losers, and start cashing in like Wall Street's elite.