Stocks Mixed as Stimulus Stalemate Drags On

The Dow and S&P 500 won their third straight, but the Nasdaq snapped four-day win streak snapped,

Digital Content Manager
Aug 4, 2020 at 4:37 PM
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The Dow Jones Industrial Average finished higher on Tuesday, building off its previous gains despite the stalemate over a new coronavirus relief package that keeps dragging on. Though the White House and Congress agree on providing additional small business aid and stimulus checks, they still do not see eye to eye on unemployment benefits, various rent and mortgage concerns, as well as food assistance programs. Meanwhile, the S&P 500 also locked up its third straight win, while the Nasdaq Composite finished the day in the red and snapped a four-day win streak amid a lackluster day for Big Tech. 

Continue reading for more on today's market, including:

    • E-commerce giant Etsy broke a new record ahead of its second-quarter report.
    • This online learning stock got six price-target hikes after an earnings beat.
    • Plus, this stock's antibody drug prevented COVID-19 in animals; a streaming giant is hot ahead of its earnings event; a pharmaceutical stock got a slew of bull notes. 

    The Dow Jones Industrial Average (DJI - 26,828.47) gained 164.1 points, or 0.6% for the day. Dow Inc (DOW) paced the 20 winners with a 3.1% win. Microsoft (MSFT) paced the nine laggards with a 1.5% drop. Raytheon Technology (RTX) broke even.

    Meanwhile, the S&P 500 Index (SPX - 3,306.51) added 11.9 points, or 0.4% for the day. The Nasdaq Composite (IXIC - 10,941.17) rose 38.4 points, or also 0.4% for today's session.

    Lastly, the Cboe Volatility Index (VIX - 23.76) lost 0.52 point, or 2.1%, for the day.

    closing summary august 4

    nyse nasdaq August 4

    1. The search for Biden's presidential running mate will conclude next week, and his choice of vice president could send shock-waves up and down Wall Street. (MarketWatch)
    2.  Ford Motor stock soared with the sudden departure of Chief Executive Jim Hackett, after the security lost nearly 40% under his leadership. (MarketWatch)
    3. This stock's COVID-19 antibody drug produced positive results in animals.
    4. pre-earnings bull note had streaming giant ROKU popping on the charts.
    5. This pharmaceutical stock got an upgrade and eight price-target hikes today.

      Earnings August 4

      Unusual Options August 4

      Data courtesy of Trade-Alert

      Gold Crosses 2K For First Time Ever

      Oil futures pared earlier losses to finish marginally higher today, as investors await the latest U.S. crude inventories update. September-dated crude rose 69 cents, or 1.7%, to end at $41.70 a barrel.

      Gold futures crossed a historic milestone today, toppling $2,000 for the first time ever as treasury yields and the U.S. dollar take a breather. Gold for December, now the most-active contract, rose $34.70, or 1.7%, to settle at $2,021 an ounce.

       

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