Dow Logs Fourth-Straight Loss, Worst Day Since June

The VIX closed at a multi-month high in response

Deputy Editor
Oct 28, 2020 at 4:27 PM
facebook twitter linkedin


The Dow plummeted 943 points lower today for its fourth-straight loss, its worst losing streak since late February. Despite what's been a fairly positive third-quarter earnings season overall, the blue-chip index has shed over 1,800 points this week already. The S&P 500 and Nasdaq closed deep in the red as well, as Wall Street grapples with an international resurgence of coronavirus cases.

In Europe, tightening restrictions -- French President Emmanuel Macron just imposed a new nationwide lockdown -- has many concerned about global economic recovery. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its highest close since June 11. 

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

  • Bulls target semiconductor stock after billion-dollar deal
  • The software giant ripe for analyst upgrades. 
  • Plus, FireEye's top-line beat; Boeing's slide lower; and Microsoft stock brushes off a revenue beat.

The Dow Jones Industrial Average (DJI - 26,519.95) fell 943.2 points, or 3.4%. Travelers (TRV) was the sole Dow gainer with a 2% win, while Microsoft (MSFT) landed at the bottom with a 5% loss. 

Meanwhile, the S&P 500 Index (SPX - 3,271.03) dropped 119.7 points, or 3.5%, while the Nasdaq Composite (IXIC - 11,004.87) lost 426.5 points, or 3.7% for the day.

Lastly, the Cboe Volatility Index (VIX - 40.28) added 6.93 points, or 20.8%. 

Closing Summary 1028

NYSE Nasdaq 1028

        
  1. Vanguard Logistics Services accused this London-based company, run by a former Uber executive, of stealing trade secrets(Reuters)
  2. Total 2020 election spending is smashing records. Both the Republican and Democratic parties more than doubled the sum of the 2016 election, with one party spending a great deal more than the other. (CNBC)
  3. Analysts chimed in on faltering FireEye stock
  4. Struggling blue chip brushed off an upbeat quarter.
  5. Tech giant attracted call volume after earnings.

Earnings 1028

UVOL 1028

Gold, Oil Close Sharply Lower

Oil futures finished lower as energy demand falls while U.S. stockpiles gain on a production surge. December-dated crude lost $2.18, or 5.5%, to settle at $37.39 a barrel.

Gold futures settled lower after investors turned to the U.S. dollar amid market turmoil. December gold fell $32.70, or 1.7%, to settle at $1,789.20 an ounce. 

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners