Frantic Dow Comeback Falls Short, Logs Third-Straight Loss

Investors are wary of new coronavirus restrictions in Europe

Assistant Editor
Oct 15, 2020 at 4:28 PM
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The Dow logged its third-straight loss today, despite a frantic scramble and brief foray into positive territory in the final hour of trading. The blue-chip index was off by 332 points at its session lows, weighed down by the latest weekly jobless claims that came in at 898,000 last week -- higher than expected and rising from 53,000 to its highest level since August. Uncertainty surrounding the second U.S. stimulus, as well as increased coronavirus restrictions in Europe eventually pushed the Dow back into the red. The S&P 500 and Nasdaq closed lower for their third-straight loss as well, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), scored its fourth-straight win.

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

  • Analysts weigh in on Fastly's revenue outlook
  • Options bulls blast e-commerce stock amid pullback.
  • Plus, solar stock gets new rating; blue chip paces Dow with quarterly beat; and one coronavirus vaccine candidate still on track.

The Dow Jones Industrial Average (DJI - 28,494.20) lost 19.8 points, or 0.7% today. Walgreen Boots Alliance (WBA) rose to the top of the Dow with a 4.8% win, while Merck & Co. (MRK) landed at the bottom with a 1.8% loss. 

Meanwhile, the S&P 500 Index (SPX - 3,483.34) fell 5.3 points, or 0.2% for the day, while the Nasdaq Composite (IXIC - 11,713.87) shed 54.9 points, or 0.5%.

Lastly, the Cboe Volatility Index (VIX - 26.97) added 0.6 point, or 2.2%.

Closing Summary 1015

NYSE Nasdaq 1015

        
  1. The European Union (EU) and Britain are still locked in ongoing Brexit negotiations. Today, the EU put the pressure on Britain to try and reach a compromise. (Reuters)
  2. This company joined a slew of others in receiving a permit to remove the human backup from its self-driving cars, and plans to begin testing by the end of the year. (CNBC)
  3. First Solar stock couldn't take advantage of new coverage. 
  4. Options bulls blasted Wall Greens Boots Alliance stock today.
  5. The biotech stock still in the race for a vaccine. 

Earnings 1015

Options Activity 1015

Oil Trims Losses After Crude Inventory Data

Oil futures fell for the first time in three days, albeit modestly, although losses stemming from lockdowns in Europe were trimmed thanks to a 3.8 million-barrel weekly decline in U.S. domestic crude inventories. November-dated crude fell 8 cents, or 0.2%, to settle at $40.96 a barrel. 

Europe's new restrictions affected gold futures as well, pushing them higher alongside U.S. weekly jobless claims data. December gold rose $1.60, or 0.08%, to settle at $1,908.90 an ounce. 


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