Dow Scores Triple-Digit Win as Stimulus Talks Progress

Investors are also unpacking plenty of corporate earnings reports

Deputy Editor
Oct 20, 2020 at 4:28 PM
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The Dow finished 113 points higher, as investors sift through plenty of earnings reports while stimulus negotiations continue. House Speaker Nancy Pelosi said both sides made progress in today's phone call, and that she's optimistic on knowing where they stand by the end of the day. Furthermore, she clarified that the "stimulus deadline" set for today was more about having terms on the table than a concrete deal. Elsewhere, the S&P 500 and Nasdaq also ended in the black, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its seventh-straight win.

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

  • Netflix stock saw an options surge ahead of earnings tonight. 
  • Chipotle stock boosted on J.P. Morgan bull note
  • Plus, promising vaccine candidate pivots higher; Alibaba stays busy in acquisitions; and blue-chip stock trades near record highs.

The Dow Jones Industrial Average (DJI - 28,308.79) added 113.4 points, or 0.4%. Today's big winner, Travelers (TRV), added 5.6% and paced the 24 winners, while IBM (IBM) landed at the bottom of the Dow with a 6.5% loss. 

Meanwhile, the S&P 500 Index (SPX - 3,443.12) rose 16.2 points, or 0.8% for the day, while the Nasdaq Composite (IXIC - 11,516.49) tacked on 37.6 points, or 0.3%.

Lastly, the Cboe Volatility Index (VIX - 29.35) added 0.2 point, or 0.6%.

Closing Summary 1020

NYSE Nasdaq 1020

        
  1. The Justice Department just began its antitrust lawsuit against Google. The "structural remedies" suggested could give some insight into the future of Big Tech. (MarketWatch)
  2. Microsoft stated that it has disabled more than 90% of the machines used by cyber criminals with potential to disrupt the U.S. election. (Reuters)
  3. Vaccine update helped Moderna stock out of a slump. 
  4. Investment buzz sent this e-commerce giant higher. 
  5. Upbeat quarterly report boosted blue chip name PG.

Earnings 1020

Uvol 1020

Oil Starts December Contract Higher, Gold Rises as Dollar Weakens

Oil futures closed near its session highs, after analysts announced an expected inventory decline. November-dated crude futures settled up 74 cents, or 1.8%, at $41.57 per barrel. The new front-month contract, December-dated crude, rose 64 cents, or 1.6%, to settle at $41.70 a barrel. 

Gold futures rose for the second-straight day as the U.S. dollar weakened. December gold rose $3.70, or 0.2%, to settle at $1,915.40 an ounce. 

 

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