An antitrust probe into Google weighed on the tech sector
The Dow snagged its fourth straight win today, good for its longest winning streak since July 15. Trade tailwinds had the Dow up almost 100 points at its session highs to tap the 26,900 level, and despite paring most of those gains, the blue-chip index ultimately finished in the black. However, the S&P 500 and Nasdaq finished mixed, with tech stocks causing a drag. More specifically, the latest antitrust probe from 50 attorneys general has put big-name tech stock Alphabet (GOOGL) in the cross-hairs.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 26,835.51) recorded a 38.1-point, or 0.1%, gain. Walgreens Boots Alliance (WBA) had the best day of the 16 blue-chip gainers, finishing up 5.8%, while Merck (MRK) led the 14 laggards with its 3.6% drop.
The S&P 500 Index (SPX - 2,978.43) shed 0.3 point, or just under 0.01%, while the Nasdaq Composite (IXIC - 8,087.44) closed down 15.6 points, or 0.2%.
The Cboe Volatility Index (VIX - 15.27) gained 0.3 point, or 1.8%.
5 Items on our Radar Today
- North Korea has indicated it would be willing to restart nuclear talks with the U.S. later this month. Vice North Korean Foreign Minister Choe Son Hui said Pyongyang was willing to have “comprehensive discussions” with U.S. officials in late September, but the U.S. State Department hasn't announced any meetings. (Reuters)
- J.P. Morgan Securities is taking steps to quantify the impact of President Donald Trump's tweets. The bank has created a “Volfefe Index” to analyze how Trump's Twitter blasts have impacted implied rate volatility for short-term bonds, as the Fed has increasingly become a target of his social media posts. (CNBC)
- Bad data sent these drug stocks stumbling.
- Energizer stock's latest bull note has put short sellers on notice.
- Oversold Anaplan stock just broke critical trendline support.
There are no earnings to report today.
Data courtesy of Trade-Alert
Four Straight Wins for Oil; Three Straight Losses for Gold
Oil prices finished higher today for their fourth straight gain, getting a lift from news that newly minted Saudi energy minister, Prince Abdulaziz bin Salman, backed his country's commitment to planned cartel production curbs. October-dated crude futures added $1.33, or 2.4%, to settle at $57.85 per barrel -- their highest finish since late July.
Gold fell again today -- its third straight loss -- as the metal's safe-haven appeal takes a hit amid the latest U.S. equity rally. Gold futures for December delivery closed down $4.40, or 0.3%, to settle at $1,511.10 an ounce.