It was a choppy session on Wall Street today
The Dow turned in a triple-digit loss today, as rough outings from Merck (MRK) and Chevron (CVX) overshadowed upbeat U.S. services data. The blue-chip index pared a wider triple-digit deficit, though, amid fewer headlines regarding U.S.-Iran tensions. The S&P 500 and Nasdaq joined the Dow in the red, with the latter giving up last-minute gains despite a strong push higher from the semiconductor sector.
Continue reading for more on today's market, including:
- This blue chip kicks off earnings season tomorrow.
- Call traders hammered this surging chip stock.
- Plus, Tesla stock cannot be stopped; a cybersecurity stock to watch; and trouble for PIR.
The Dow Jones Industrial Average (DJI - 28,583.68) lost 119.7 points, or 0.4%. Boeing (BA) paced the six winners with a 1.1% win, while MRK led the 24 losers with a 2.7% drop.
The S&P 500 Index (SPX - 3,237.18) lost 9.1 points, or 0.3%, while the Nasdaq Composite (IXIC - 9,068.58) finished 2.9 points lower.
The Cboe Volatility Index (VIX - 13.79) lost 0.06 point, or 0.4%.
5 Items on Our Radar Today
- U.S. mortgage rates for a 30-year fixed mortgage fell last week. The average rate dropped to 3.69%, the lowest since October, signaling a housing market that could be heating up to start 2020. A monthly survey from Fannie Mae also indicated December buyer sentiment was high. (CNBC)
- A study shows that U.S. greenhouse emissions fell last year by 2.1%, as coal-fired electricity output plunged 18% to a 44-year low. However, the study also warned that additional declines will not occur without rapid policy changes. (Reuters)
- Tesla stock cannot be stopped.
- This cybersecurity stock could actually benefit from Middle East tensions.
- Pier 1 Imports is shuttering half of its stores.
Data courtesy of Trade-Alert
Gold Logs 10th Straight
Oil took a breather today, snapping a three-day winning streak, as the risk of supply disruptions amid heightened Middle East tensions cooled. February-dated crude futures shed 57 cents, or 0.9%, to end at $62.70 per barrel.
Gold logged its 10th straight win today, its best winning streak in two years. February gold futures settled up $5.50, or 0.4%, to end at $1,574.30 an ounce, its highest close since April 2013.