The thin trading session had the Dow pulling back from yesterday's record high
Following a morning of solid gains, the Dow wound up reversing direction to close the shortened Christmas Eve session modestly lower. The S&P also slipped, with both indexes coming off yesterday's record highs. The Nasdaq, however, clocked a 10th consecutive win and hit fresh highs, despite rather muted price action all around. Looking ahead, markets will be closed tomorrow for the Christmas holiday.
Continue reading for more on today's market, including:.
- This red-hot chip stock could keep surging, according to one analyst.
- The energy stock that could start 2020 with a bang.
- Plus, MBOT stock keeps surging; the bear signal flashing for UBER; and the software stock for options bulls.
The Dow Jones Industrial Average (DJI - 28,515.45) lost 36.1 points, or 0.1%. Fourteen of the 30 components ended higher. Home Depot (HD) took the lead on a 0.6% win, while Boeing (BA) sunk to the bottom after shedding 1.3%.
The S&P 500 Index (SPX - 3,223.38) settled 0.6 points, or 0.02%, lower, while the Nasdaq Composite (IXIC - 8,952.88) climbed 7.2 points, or 0.1%.
The Cboe Volatility Index (VIX - 12.67) rose 0.06 point, or 0.5%.
5 Items on Our Radar Today
- According to the Harvard Law School rollback tracker, President Donald Trump has made efforts to roll back at least 80 different environmental regulations, which has included easing regulations on methane emissions and the Endangered Species Act. This number marks a historically unprecedented amount, while the Trump administration sees these rollbacks as a way to boost major U.S. industries, including fossil fuel companies. (CNBC)
- With protests still raging in Hong Kong, police have firrf tear gas into a crowd of protesters near a shopping and tourism district. One person was injured during the chaos, after falling from the second floor to the first floor of a shopping mall. (Reuters)
- The surgical robotics breakthrough that pushed MBOT stock higher.
- UBER stock's rally could be short lived, is history is any indicator.
- The software stock options bulls might want to snap up before the new year.
There are no earnings of note today.
Gold Nabs Seven-Week High During Christmas Eve Session
Oil traded higher after the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to continue cooperating on supply cuts. February-dated crude futures were last seen up 8 cents, or 0.1%, at $60.52 per barrel.
Gold once again move higher, surging atop the $1,500 level, and hitting a seven-week high as investors eyed weaker equity markets, and yesterday's disappointing economic data in the U.S. February gold futures settled up $16.10, or 1.1%, to end at $1,504.08 an ounce.