Dow Snaps 5-Day Losing Streak Amid Vaccine Buzz

Investors are now looking ahead to tomorrow's consumer price index

Digital Content Manager
Sep 13, 2021 at 4:28 PM
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Though the Dow cooled from its session highs, it still managed to snap its five-day losing steak to add 261 points on Monday. Energy and reopening stocks led the charge, while a drop in Covid-19 cases and talks that Pfizer's (PFE) vaccine could soon be available for children also boosted investor sentiment. The S&P 500 also managed to break out of a losing pattern with a slight gain, while the tech-heavy Nasdaq logged its fourth-straight loss. Traders are now looking ahead to tomorrow's consumer price index, which will reveal how much prices have jumped in August.  

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

  • Why options bulls blasted Dell Technologies stock
  • Tech name plagued by Chinese government crackdown rumors.
  • Plus, Disney favors theater releases; analyst praises casino stock; and CG options run red-hot.

The Dow Jones Average (DJI - 34,869.63) added 261.9 points, or 0.8%. United Heath (UNH) led the charge with a 2.6% jump, while Nike (NKE) fell to the bottom, shedding 2.5%.

The S&P 500 Index (SPX - 4,468.73) rose 10.2 points, or 0.2%, while the Nasdaq Composite (IXIC - 15,105.58) shed 9.9 points, or 0.07%. 

Lastly, the Cboe Volatility Index (VIX - 19.37) fell 1.6 point, or 7.5%.

indexes sept 13

nyse and nasdaq spet 13

  1. A Redfin report showed bidding wars on homes have dropped to their lowest level this year, indicating the real estate market could be finally cooling off. (MarketWatch)
  2.  U.S. and international scientists said a review of scientific evidence concluded Covid-19 vaccine booster shots are not currently needed for the general public. (CNBC)
  3. Disney is slated to release new movies exclusively in theaters for the rest of 2021.
  4. Analyst upgrades casino stock on gaming and sports betting presence.
  5. Calls run red-hot for Carlyle stock after lofty bull note.

There were no earnings of note today.

uvol sept 13

Oil Prices Reclaim $70 Mark on Upbeat Demand Outlook

Oil prices were higher on Monday, finishing above the $70 mark for the first time in almost six weeks. Boosting the commodity were concerns surrounding output in the Gulf of Mexico following Hurricane Ida, as well as an upbeat demand forecast from the Organization of the Petroleum Exporting Countries (OPEC). As a result, October-dated rose 73 cents, or roughly 1.1%, to settle at $70.45 a barrel.

Gold prices were also higher, though the yellow metal fell short of the psychologically significant $1,800 level. A stronger U.S. dollar capped the commodity's gains, though Covid-19 delta variant fears and the possibility the Federal Reserve may postpone the tapering of stimulus provided support. In turn, December-dated gold added $2.30, or 0.1%, to settle at $1,794.40 an ounce.

 

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