Stocks Win for the Day, Post Steep September Losses

The major indexes logged monthly losses for the first time since March

Assistant Editor
Sep 30, 2020 at 4:32 PM
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While the major indexes all logged sharp monthly losses -- their first since March -- the last day of September saw stocks rise. However, gains were ultimately capped after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to deliver on a stimulus deal. Stocks initially took a sharp turn into positive territory following last night's first U.S. Presidential debate and positive ADP jobs data. The Dow closed up 329 points but was up as much as 550 points at its session highs, while the S&P 500 and Nasdaq Composite closed higher as well. 

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

    • This winter clothing maker is soaring after an analyst upgrade.
    • Should Etsy stock be on investors' radar?
    • Plus, General Motors delayed a massive deal; more on Duke Energy's takeover talks; and Walt Disney lays off 28,000 employees.

    The Dow Jones Industrial Average (DJI - 27,781.70) rose 329 points, or 1.2%, and shed 2.3% for the month. American Express (AXP) led the list today, leading the winners with a 2.3% rise. Meanwhile, Walt Disney (CVX) paced the small list losers today, notching a 1.2% drop. For the quarter, the Dow added 7.6%.

    Meanwhile, the S&P 500 Index (SPX - 3,363.00) added 27.5 points, or 0.8% for the day. The Nasdaq Composite (IXIC - 11,167.51) gained 82.3 points, or 0.7% for today's session. The indexes lost 3.9% and 5.1%, respectively, in September, but gained 8.5% and 11.1% for the quarter.

    Lastly, the Cboe Volatility Index (VIX - 26.37) tacked on 0.1 point, or 0.4% for the day, and fell 0.2% for the month. It lost 13.3% for the quarter

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    1. After U.S. President Donald Trump and former Vice President Joe Biden sparred on national television Tuesday night, the latter candidate notched a huge fundraising windfall. (CNBC)
    2. The travel industry woes continue, as rough 40,000 airline workers are worried about layoffs that could be right around the corner. (USA Today)
    3. General Motors delayed a deal with Nikola amid serious allegations.
    4. Takeover talks helped boost Duke Energy stock.
    5. Massive layoffs are on the way for this theme park giant.

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    Sharp Monthly Losses for Oil, Gold

    Oil prices brushed off yesterday's woes and rose today, as investors digest some seriously optimistic inventory data. More specifically, crude inventories fell by 2 million barrels in September. Still, investors are preparing for winter, a time when weather combined with rising COVID-19 cases could put more restrictions on activity and dampen fuel demand. In response, November-dated crude added 93 cents, or 2.4%, to settle at $40.22 per barrel for the day. Black gold lost 5.6% for the month and 2.4% for the quarter.

    Meanwhile, gold prices fell, following a tumultuous first U.S. presidential debate. The clash between President Donald Trump and former Vice President Joe Biden drove investors into the arm of the dollar and reignited fears surrounding the next stimulus bill. Gold for December delivery lost $7.70 or 0.4%, to settle at $1,895.50 an ounce for the day. It posted a 4.2% loss for the month, but gained 5.3% for the quarter.


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