The Dow and S&P 500 are one day removed from a record close
Stocks pulled back today, falling victim to profit-taking just one session removed from new record closes for the Dow and S&P 500. The blue-chip index shed 167 points -- falling just short of the psychologically significant 30,000 level -- thanks to a 9% drop from pharmacy giant Walgreens Boots Alliance (WBA), after Amazon.com (AMZN) unveiled details to its pharmacy business. Elsewhere, the S&P 500 and Nasdaq Composite also logged losses, after data showed retail sales increased less then expected in October.
Continue reading for more on today's market, including:
- Walmart stock took a breather today despite an earnings beat.
- Options bulls piled Home Depot stock following earnings.
- Plus, why investors should consider DENN; how Dick's Sporting Goods stock fought the pandemic; and more on BIDU's latest struggles.
The Dow Jones Industrial Average (DJI - 29,783.35) lost 167.1 points, or 0.6%. Boeing (BA) rose to the top of the list, notching a 3.8% win. Meanwhile, Walgreens Boots Alliance (WBA) fell 9.6% to pace the laggards.
Meanwhile, the S&P 500 Index (SPX - 3,609.53) fell 17.4 points, or 0.5%, for the day. The Nasdaq Composite (IXIC - 11,899.34) shed 24.8 points, or 0.2% for the day. .
Lastly, the Cboe Volatility Index (VIX - 22.71) rose 0.3 point, or 1.2% for the day.
- The U.S. Travel Association said today that travel spending is likely to fall by more than $500 billion in 2020, and pre-pandemic levels of spending won't return until 2024. (Reuters)
- Coronavirus cases continuing to rise in the U.S., and as a result the country is losing billions as international students choose to study elsewhere. (CNBC)
- This restaurant stock is worth consideration.
- Dick's Sporting Goods stock is navigating the pandemic with ease.
- Post-earnings bulls notes did little to save Baidu stock.
Oil Static As New Lockdown Restrictions Loom
Oil prices were flat today, amid worries of a new wave of lockdowns in the face of rising COVID-19 cases in the U.S. and abroad. Those worries kept a lid on optimism surrounding vaccine hopes and tight supply policies from the Organization of Petroleum Exporting Countries and its allies (OPEC+). In response, December-dated crude added 9 cents, or 0.2%, to settle at $41.43 a barrel.
Rising coronavirus cases also took their toll on gold prices, which snapped a three-day win streak despite yesterday's optimism surrounding the vaccine race. As a result, December gold lost $2.70, or 0.1%, to settle at $1,885.10 an ounce for the day.