Dow Slides 95 Points on Trade Uncertainty

Kudlow struck a positive tone on trade ahead of high-level talks slated for later this week

by Lillian Currens

Published on Oct 7, 2019 at 4:35 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow finished lower to start the week, with all eyes turned towards this week's high-level trade talks between the U.S. and China, set to take place Thursday in Washington, D.C. While White House economic advisor Larry Kudlow struck a positive tone earlier in regards to the two nations coming to an agreement, some reports suggest China is reluctant to agree to the sweeping terms of a trade deal favored by President Donald Trump. 

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

The Dow Jones Industrial Average (DJI - 26,478.02) shed 95.7 points, or 0.4%. UnitedHealth (UNH) led the eight gainers with a 0.7% lead, while 3M (MMM) fell to the bottom of the 22 losers with a 1.5% loss.

The S&P 500 Index (SPX - 2,938.79) settled 13.2 points, or 0.5%, lower, while the Nasdaq Composite (IXIC - 7,956.29) lost 26.2 points, or 0.3%.

The Cboe Volatility Index (VIX - 17.86) added 0.8 point, or 4.8%, today.

Closing Indexes Oct 7

NYSE and Nasdaq Stats Oct 7

5 Items on Our Radar Today

  1. Apple's (AAPL) latest Mac update, macOS Catalina, just launched, with plenty of new features, including the replacement of iTunes with three separate Apple TV, Apple Music and Podcasts apps. (CNBC)
  2. Over 400 indigenous protesters have been arrested amid ongoing unrest in Ecuador, with the group today blocking a central highway into the capital city of Quito. This marks the fifth day the indigenous organization CONAIE has held demonstrations following President Lenin Moreno's rule eliminating fuel subsidies. (Reuters)
  3. Why the latest GM strike news had puts piling up.  
  4. The major trendline that's in play for Adobe stock
  5. Chip stock NVDA leaps on a brand-new bull note. 

There are no earnings of note today.

Unusual Options Activity Oct 7

Data courtesy of Trade-Alert

Oil, Gold Slide as Investors Await Thursday Trade Meeting

Oil prices finished marginally lower as investors look ahead to this Thursday's trade talks. November-dated crude futures fell $0.06, or 0.1%, to settle at $52.75 a barrel. 

Meanwhile, gold also pulled back. Gold futures for December delivery lost $8.50, or 0.6%, to end at $1,504.40 per ounce.  

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