Dow, SPX Cool Off Following Record Session

Unemployment data disappointed investors

Deputy Editor
Nov 25, 2020 at 4:28 PM
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After yesterday saw the Dow and S&P 500 close the session at record highs, stocks pulled back today while traders digested the latest batch of unemployment data. More specifically, jobless claims came in at 778,000 on the week, much higher than analysts' predications. Whispers about the possibility that Salesforce.com (CRM) is in talks to buy Slack Technologies (WORK), also weighed heavy. In response, the blue-chip index shed 173 points, while the SPX finished marginally lower. Elsewhere, the Nasdaq logged a win, and the Federal Reserve released minutes from its latest meeting, which showed no notable changes.

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

  • Bull notes poured in for Nordstrom stock.
  • This movie theater chain's future looks murky.
  • Plus, what a double downgrade meant for GOOS; why bull notes flooded in for one computer stock; and how CCL clawed back from penny stock territory. 

The Dow Jones Industrial Average (DJI - 29,872.47) shed 173.8 points, or 0.6% on the day. Of the 30 blue-chip names, Walgreen Boots Alliance (WBA) topped the list, gaining 1.4%, while Salesforce.com (CRM) paced the laggards with a 5.4% fall.

Meanwhile, the S&P 500 Index (SPX - 3,629.65) fell 5.8 points, or 0.2%, for the day. The Nasdaq Composite (IXIC - 12,094.40) gained 57.1 points, or 0.5% for the day.

Lastly, the Cboe Volatility Index (VIX - 21.25) fell 0.4 point, or 1.8% for the day.

Closing Summary 1125NYSE NASDAQ 1125

  1. In a move welcomed by medical experts and patients alike, the U.S. Centers for Disease Control and Prevention (CDC) shortened its recommended two-week coronavirus-related quarantine. (CNBC)
  2. With all of the COVID-19 vaccine news that's come out recently, the U.S. government is acting fast, planning to roll out 6.4 million doses next month. (MarketWatch)
  3. A double downgrade took the wind out of Canada Goose stock.
  4. Dell stock reels in bull notes after an earnings beat.
  5. This cruise line operator dug itself out of penny stock territory. 

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Oil Closes at Highest Level in 8 Months

Oil prices finished today, at an eight-month high, after U.S. crude inventories were shown to have dropped last week. In response, January-dated crude, added 80 cents, or 1.8%, to settle at $45.71 a barrel.

After yesterday dipping toward the psychological $1,800 level, gold prices steadied today thanks to a surprising rise in jobless claims. More specifically, December gold rose 90 cents, or 0.05%, to settle at $1,805.50 an ounce for the day.

 

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