Breaking: Nasdaq Notches 5-Day Win Streak

Initial jobless claims topped analysts' expectations

Deputy Editor
Jun 18, 2020 at 4:41 PM
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The Dow fell for another day, while the S&P scraped by, closing just above breakeven. At it's lowest mark the blue-chip index was down nearly 300 points, but did pare some losses by session close. Meanwhile, the Nasdaq Composite outperformed, locking in a five-day win streak. The volatility seen in the market today was fueled by U.S. weekly jobless claims that came in higher than analysts expected. Fears of a second wave have also been mounting, as an increase of COVID-19 cases have surfaced in several parts of the country.

  • La-Z-Boy stock is takes a pre-earnings breather.
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  • Plus, KB Home preps for earnings; SPOT runs hot amid on podcast deals; and United States Steel stock suffers on share offering. 

The Dow Jones Industrial Average (DJI - 26,080.10) was off 39.5 points, or 0.2% for the day. Procter & Gamble (PG) is today's winner, rising 1.2% to finish the day. Meanwhile, American Express (AXP) fell to the bottom, ending 1.7% lower.

Meanwhile, the S&P 500 Index (SPX - 3,115.34) pulled together 1.9 point, or 0.06%, and the Nasdaq Composite (IXIC - 9,943.05) added 32.5 points, or 0.3%. 

Meanwhile, the Cboe Volatility Index (VIX - 32.94) lost 0.5 point, or 1.6%, for the day.

Closing Summary June 18

NYSE Nasdaq June 18

5 Items on Our Radar Today

  1. Conditions are improving in the mid-Atlantic region, according to a gauge of manufacturing from the Philadelphia Fed. The region's business conditions index rose to 27.5 in June, well above last month's -43.1. (MarketWatch)
  2. The U.S. Supreme Court voted to block President Donald Trump's efforts to end the Obama-era, Deferred Action for Childhood Arrivals (DACA) program, which shields nearly 700,000 young undocumented immigrants from deportation. (Bloomberg)
  3. KB Home stock is wobbly ahead of its earnings report. 
  4. Spotify stock just surged on these major podcast deals.
  5. A share offering sent United States Steel stock plummeting.

Earnings June 18

Unusual Options Activity June 18

Data courtesy of Trade-Alert

Oil Rises After OPEC Meeting

Oil prices rose slightly, after a meeting hosted by the Organization of the Petroleum Exporting Countries (OPEC) ushered investors to look toward holding producers accountable for complying to production cuts. As a result, July-dated crude tacked on 88 cents, or 2.3%, to settle at $38.84 per barrel.

Second-wave fears coupled with this week's jobs data sent the sent gold lower. Gold for August delivery fell $4.50, or 0.3%, to settle at $1,731.10 per ounce.



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