Schaeffer's 43rd Anniversary Stock Picks in 2024

S&P 500 Locks In 7th Straight Monthly Win

America's withdrawal in Afghanistan marks the end of its longest war

Deputy Editor
Aug 31, 2021 at 4:28 PM
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Stocks closed out the final trading day of August with a whimper. However, the S&P 500 logged its seventh-straight monthly win, its largest since April. The Dow and tech-heavy Nasdaq turned in solid August wins as well, the latter's third straight and ninth in the last 10 months. 

Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), finished higher today, but closed August with its sixth monthly loss in seven. Investors remain vigilant of overseas headlines, after the U.S. wrapped up its evacuation efforts in Afghanistan, signaling the end of America's longest war.

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

  • Chewy stock has an ugly post-earnings history.
  • This drug stock soared after an Alzheimer's treatment update.
  • Plus, the REIT on our radar; SPCE upgraded; and unpacking Designer Brands' earnings report.

The Dow Jones Average (DJI - 35,360.73) fell 39.1 points, or 0.1% for the day. The Dow boasted a respectable list of winners today, led by Walgreen Boots Alliance (WBA) who gained 4.4%. Meanwhile, Nike (NKE) paced the laggards with a 2% loss.

The S&P 500 Index (SPX - 4,522.68) lost 6.1 points, or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,259.24) shed 6.7 points, or 0.04% for the day. This month, the indexes added 2.9% and 4%, respectively. 

Lastly, the Cboe Volatility Index (VIX - 16.48) gained 0.3 point, or 1.8% for the day. The VIX shed 9.7% this month.

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  1. The U.S. Education Department opened civil-rights investigations regarding school districts that banned face mask mandates. (MarketWatch)
  2. Amid the continuing spread of the delta variant of Covid-19, Google announced it's postponing its voluntary return to the office. (CNBC)
  3. Why American Tower stock is a surefire bet.
  4. The space exploration company worthy of a Jefferies upgrade.
  5. DBI moves higher after a stellar earnings report.

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Oil Falls as OPEC+ Mulls Pleas to Increase Output

Oil prices fell on Tuesday, as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) prepared for a meeting on Wednesday following pleas for more output from the U.S. In addition, black gold was put under pressure following outages in flooding in Louisiana due to Hurricane Ida. As a result, October-dated crude shed 71 cents, or 1%, to settle at $68.50 per barrel today, and lost 3.9% this month.

Gold prices climbed slightly, as U.S. consumer confidence falls to six months lows. December-dated gold added $5.90, or 0.3%, to settle at $1,818.10 an ounce for the day. For the month, bullion added 0.2%.


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