Dow, S&P 500 Score Five Straight, "Fear Gauge" Sinks

The S&P 500 is now just short of its February record

Fernanda Horner
Aug 6, 2020 at 4:32 PM
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All major indexes finished higher on Thursday, lifted by the tech sector and optimistic unemployment data, even as the second round of coronavirus relief was still pending in Congress. The Dow and S&P 500 snagged their fifth-straight win, with the latter just below its February record high.

Meanwhile, the Nasdaq grabbed yet another record high, with giants such as Facebook (FB), Apple (AAPL), Netflix (NFLX) and Microsoft (MSFT) contributing to the broader market's gains. Elsewhere, Wall Street's 'fear gauge,' the Cboe Volatility Index (VIX), logged its fifth straight loss.

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

    • These two video game stocks are worth playing this month.
    • A website domain stock topped out analysts' revenue and outlook estimates.
    • Plus, a hotel stock reported steep losses due to coronavirus; a pharmaceutical stock is starting a company; understand the main difference between calls and long calls.

    The Dow Jones Industrial Average (DJI - 27,386.98) gained 185.5 points, or 0.7% for the day. Apple (AAPL) finished with a 3.5% jump, pacing the 17 gainers. Raytheon Technologies (RTX) paced the 13 laggards with a 0.3% fall.

    Meanwhile, the S&P 500 Index (SPX - 3,349.16) added 21.4 points, or 0.6% for the day. The Nasdaq Composite (IXIC - 11,108.07) rose 109.7 points, or 1% for today's session.

    Lastly, the Cboe Volatility Index (VIX - 22.65) lost 0.3 point, or 1.5%, for the day.

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    1. Mortgage rates continue to fall, breaking a record-low for the eighth time this year. However, rising demand and high prices mean homes are less affordable. (CNBC)
    2. New York Attorney General Letitia James filed a lawsuit to dissolve the National Rifle Association (NRA), alleging a violation of non-profit laws. (MarketWatch)
    3. This hotel stock reported steep quarterly losses after COVID-19 slashed bookings.
    4. This pharmaceutical stock is planning an independent eye-care company.
    5. Our first education series breaks down the difference between calls and long calls.

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    Data courtesy of Trade-Alert

    Oil Takes a Breather, While Gold Extends Rally

    Oil futures snapped a four-day win streak today, taking a breather as fuel demand concerns flare up again. September-dated crude was down 24 cents, or 0.6%, to end at $41.95 a barrel. 

    Gold futures, however, continued to soar for the fifth consecutive session, coming close to the $2,100 level. Gold for December, which is the most-active contract, rose $20.10, or 1.1%, to settle at $2,069.40 an ounce.


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