Stocks Finish September Strong

The White House denied it was considering limiting capital flows to China

by Patrick Martin

Published on Sep 30, 2019 at 4:33 PM
Updated on Sep 30, 2019 at 4:42 PM

The Dow closed the book on September with a strong gain. The blue-chip index got an early morning boost after White House officials denied reports it was considering a cap on capital flows to China. The S&P 500 and Nasdaq both ended confidently higher, too, with a resurgent tech sector creating tailwinds. All three benchmarks finished out the month with a gain, while the Dow and S&P closed out the third quarter in the black -- locking up their third straight quarterly win.

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

  • History says target these 2 retail stocks next month.
  • Options bulls are holding out hope for Tesla stock.
  • Thor Industries, Cal-Maine Foods made massive post-earnings moves today.
  • Plus, a drug stock that could triple; crazy call activity on IMMU; and Newell gets upgraded.

The Dow Jones Industrial Average (DJI - 26,961.83) recorded a 96.6-point, or 0.4%, gain. Apple (AAPL) had the best day of the 19 blue-chip gainers, finishing up 2.4%, while Exxon Mobil (XOM) led the 10 laggards with its 1.2% loss, and Chevron (CVX) closed flat. For the month, the Dow gained 1.9%. It posted a 1.2% quarterly gain.

The S&P 500 Index (SPX - 2,976.74) logged a 14.9-point, or 0.5%, gain, while the Nasdaq Composite (IXIC - 7,999.34) closed up 59.7 points, or 0.8%. The S&P 500 tacked on 1.7% in September, while the Nasdaq recorded a 0.5% monthly win. The SPXX gained 1.2% for the quarter, while the Nasdaq shed 0.03%.

The Cboe Volatility Index (VIX - 16.24) shed 1 point, or 5.7%. The VIX lost 14.4% in September, but gained 7.7% on the quarter.

closing indexes summary sept 30

nyse and nasdaq stats sept 30

5 Items on our Radar Today

  1. Senate Majority Leader Mitch McConnell said there would be "no choice" but to proceed with impeachment hearings in the Senate, should the Democratic-controlled House of Representatives decide to move forward with the process. Talking to CNBC, McConnell said "Senate impeachment rules are very clear," and they require the upper chamber "to take it up if the House does go down that path." (Reuters)
  2. The strike between General Motors (GM) and the United Auto Workers (UAW) union is heading into its third week today. It's now the longest strike against any U.S. business since 2007. The two sides are still negotiating, but remain at an impasse over pay, profit sharing, job security, and temporary workers. (CNN)
  3. Analyst: This drug stock could triple.
  4. Calls popped as Immunomedics stock sank.
  5. Options traders blasted newly upgraded Newell stock. 

corporate earnings sept 30

unusual options trading sept 30

Data courtesy of Trade-Alert

Oil, Gold Turn in September Losses

Oil prices logged their fifth straight loss today on news that Saudi Arabia had restored its oil production in the wake of the facility attacks earlier this month. November-dated crude futures shed $1.84, or 3.3%, to settle at $54.07 per barrel, its lowest settlement since Sept. 3. For the month, oil shed 1.9%. For the quarter, it lost 7.5%.  

Gold also closed lower today, breaching the key $,1500 per ounce mark as the U.S. dollar firmed. Gold for December delivery fell $33.50, or 2.2%, to settle at $1,472.90 an ounce, its lowest close since early August. Gold gave back 3.7% in September, but posted a 3.4% win on the quarter.

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