Investors eye Congress in regard to another stimulus bill
The Dow closed 205 points lower, with the Nasdaq and S&P 500 also ending the day in the red, as tech giants Apple (AAPL) and Netflix (NFLX) pulled back. Senate majority leader Mitch McConnell unveiled the Senate's proposed HEALS Act, which outlines the next round of coronavirus relief. However, negotiations on the bill are not looking hopeful, and implementing the included weekly employment benefits could take months. Elsewhere, investors are eyeing the busy earnings week.
- Pot stock runs into historically bearish trendline.
- Clinical laboratory stock higher amid rapidly growing test volume.
- Plus, Options traders change their tune on motorcycle giant; Gold stock flashing a bull signal; Semiconductor stock sees new resignation.
The Dow Jones Industrial Average (DJI - 26,379.28) lost 205.5 points, or 0.8% for the day. Pfizer (PFE) rose to the top of the Dow, finishing 3.9% higher, while 3M (MMM) fell to the bottom, losing 4.8%.
Meanwhile, the S&P 500 Index (SPX - 3,218.44) fell 21 points, or 0.7% for the day, and the Nasdaq Composite (IXIC - 10,402.09) dropped 134.2 points, or 1.3% for today's session.
The Cboe Volatility Index (VIX - 25.44) gained 0.7 point, or 2.8%, for the day.
- Dr. Anthony Fauci sees a "very early indication" of tepid testing news for U.S. states that have recently been hit hard by coronavirus. The rising number of cases throughout the country looks different from state to state. (CNBC)
- Twitter, Facebook, and YouTube are rapidly taking down a misleading viral video. The sharing of the video also lead to the brief suspension of Donald Trump Jr.'s account. (Marketwatch)
- Motorcycle giant plummets following quarterly earnings.
- More upside on the horizon for gold stock.
- Blue chip slides on heels of bear gap.
Data courtesy of Trade-Alert
Gold Reaches Yet Another All-Time High
Oil prices fell today as the U.S. dollar stabilized. September-dated crude fell 56 cents, or nearly 1.4%, to settle at $41.04 a barrel.
Gold futures rose today to hit yet another record settlement as U.S. consumer confidence dims. Gold for August rose $13.60, or 1.8%, to settle at $1,944.60 an ounce.