All three indexes notched new record highs
The Dow notched a triple-digit gain today, managing even more record highs, as Wall Street mostly looked past impeachment headlines out of Capitol Hill. Meanwhile, the Nasdaq and S&P 500 enjoyed modest upside, grabbing fresh all-time highs along the way, with the former index stretching its daily win streak to seven, its longest since February. The bullish backdrop spread to the commodity space, as well, where oil futures rose to their highest settlement in weeks.
Continue reading for more on today's market, including:.
- Behind the frantic call activity on Dropbox stock today.
- Why Barclays sees this blue chip rallying into 2020.
- Plus, MTCH and IAC call it quits; the fertilizer stock that's wilting; and Boeing stock gets a bear note.
The Dow Jones Industrial Average (DJI - 28,376.96) tacked on 137.7 points, or 0.5%. Twenty-three of the 30 index members ended higher, with Cisco Systems (CSCO) coming in as the top performer on a 2.7% win. Caterpillar (CAT) on the other hand slipped to the bottom of the index on a 1.4% drop.
The S&P 500 Index (SPX - 3,205.37) settled 14.2 points, or 0.5%, higher, while the Nasdaq Composite (IXIC - 8,887.22) tacked on 59.4 points, or 0.7%.
The Cboe Volatility Index (VIX - 12.50) lost 0.08 point, or 0.6%.
5 Items on Our Radar Today
- A new spending bill was just approved by the senate in order to avoid a government shutdown, with another in the works, as well, The bills, which will increase domestic and defense spending, do away with a number of Obamacare taxes, and introduce some changes to retirement savings accounts, have been approved by the House. (CNBC)
- Starbucks (SBUX) just settled a multi-year probe by agreeing to pay $176,000 to the New York City employees affected by its illegal rule requiring workers to find a replacement when they were on sick leave. The coffee company has since changed its sick day policy. (Reuters)
- How Match and InterActiveCorp's big breakup went down.
- The fertilizer stock wilting on production cuts.
- The latest drama that put Boeing back in the headlines.
Oil Hits Three-Month High On Inventories Data
Oil surged to its highest settlement since mid-September today, on a decline in U.S. crude inventories. January-dated crude futures tacked on 29 cents or 0.5%, to settle at $61.22 per barrel.
Gold prices saw a sharp reversal today, grabbing a two-week, and erasing any losses for the week. February gold futures added $5.70, or 0.4%, to end at $1,484.40 an ounce.