Dow, S&P 500 Fall from Highs as Investors Await Stimulus Input

Two explosions in Kabul killed at least 12 U.S. service members

Deputy Editor
Aug 26, 2021 at 4:29 PM
facebook X logo linkedin


The three major benchmarks logged their first losses of the week, as Wall Street waits for additional comments regarding stimulus from the Federal Reserve's Jackson Hole symposium. Developments in Afghanistan also captured the attention of traders, after two explosions outside of Kabul airport killed at least 12 U.S. service members. In turn, the S&P 500 and Nasdaq fell sharply from yesterday's record closes. Meanwhile, the Dow fell triple digits, snapping its four-day winning streak due to mixed economic data. Conversely, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), notched its best day since Aug. 18.

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

  • Why options traders are hopping on Peloton stock.
  • This apparel stock dipped ahead of its incoming report. 
  • Plus, don't sweat BABA's latest dip; more on Lordstown Motors' C-suite shakeup; and biotech name brushes off drug controversy. 

The Dow Jones Average (DJI - 35,213.12) fell 192.4 points, or 0.5% for the day. Salesforce.com (CRM) led the small list of Dow winners after taking on 2.7%, while Boeing (BA) fell 2.1% to pace the laggards.

The S&P 500 Index (SPX - 4,470.00) lost 26.2 points, or 0.6% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,945.81) dipped 96.1 points, or 0.6%, for the day.

Lastly, the Cboe Volatility Index (VIX - 18.84) rose 2.1 points, or 12.2% for the day.

closing summary 0826

nyse nasdaq 0826

  1. With Delta Air Lines' (DAL) recent surcharge for unvaccinated workers, here's some other penalties those shunning the shot may soon face. (MarketWatch)
  2. There's a C-suite shakeup rearing its head at Bank of America (BAC), where two top executives are planning to depart by the end of the year. (CNBC)
  3. Why you shouldn't sweat Alibaba stock's latest pullback.
  4. Lordstown Motors stock popped after a CEO change.
  5. Drug controversy fails to put pressure on biotech name.

Earnings 0826

UVOL0826

Oil Snaps Win Streak as Virus Woes Mount

Oil prices snapped a three-day winning streak today, as investors weighed demand for the commodity as the U.S. driving summer season nears its end, and delta variant fears continue to haunt investors. As a result, October-dated crude shed 94 cents, or 1.4%, to settle at $67.42 per barrel.

Gold prices, on the other hand, logged a win. The yellow metal hit an intraday high above the psychologically relevant $1,800 level, after comments at the annual Jackson Hole symposium suggested that the central bank's tapering process may be completed by early 2022. December-dated gold added $4.20, or 0.2%, to settle at $1,795.20 an ounce.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI