Dow Regains Ground on Revived Fed Hopes

The blue chip index edged higher after a brutal two-day start to October

by Lillian Currens

Published on Oct 3, 2019 at 4:33 PM

U.S. stocks notched modest gains today after suffering heavy losses through the first two sessions of the week. The Dow finished 122 points higher, as rising expectations for another Fed rate cut helped to boost investor sentiment following this morning's decline in the ISM services index. Meanwhile, the S&P 500 also ended higher, after snapping a lengthy streak above its 160-day moving average on Tuesday. 

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

  • Why investors should add these 5 REIT stocks to their short-term watchlist. 
  • The 3 cybersecurity stocks to scoop up now, according to one analyst. 
  • Rising rate cut hopes emboldened one bank ETF bear
  • Plus, options bears won big with ADM stock; Microsoft makes a comeback; and BOLD stock's latest bear note. 

The Dow Jones Industrial Average (DJI - 26,201.04) gained 122.4 points, or 0.5%. Pfizer (PFE) led the 22 gainers with a 2.2% lead, while the eight losers were paced by Walt Disney (DIS) on a 0.8% loss.

The S&P 500 Index (SPX - 2,910.63) settled 23 points, or 0.8% higher, while the Nasdaq Composite (IXIC - 7,872.27) closed up 87 points, or 1.1%.

The Cboe Volatility Index (VIX - 19.14) lost 1.4 point, or 7%. 

Closing Indexes Summary Oct 3

NYSE and Nasdaq Stats Oct 3

5 Items on Our Radar Today

  1. The National Retail Federation (NRF) just predicted an increase between 3.8% and 4.2% in retail sales for the upcoming holiday months of November and December, above the five-year average of 3.7% growth. The NRF said "uncertainty over trade" could dampening potential gains for the retail sector in upcoming months. (CNBC)
  2. Over half a dozen vaping companies, including JUUL Labs, were ordered by the U.S. Federal Trade Commission (FTC) to reveal their sales and advertising data. Altria (MO), which holds a 35% stake in JUUL, said it would cooperate with the request. (MarketWatch)
  3. Options bears just made a quick buck on struggling ADM stock.  
  4. The obscure trendline Microsoft stock bounced off of today. 
  5. The pharma stock one analyst thinks could drop by more than 60%. 

Corporate Earnings Oct 3

Unusual Options Activity Oct 3

Data courtesy of Trade-Alert

Oil Keeps Sinking as Gold Gains

Oil prices continue to sink, clocking their eighth consecutive loss today amid more gloomy U.S. economic data. November-dated crude futures fell $0.19, or 0.4%, to settle at $52.45 per barrel.  

Gold futures notched their third consecutive day in the black today, with investors continuing to turn to the precious metal as a safe haven in a tumultuous market. December-delivered gold added $5.90, or 0.4% to end at $1,513.80 per ounce.

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