Dow Extends Rebound Thanks to Upbeat Manufacturing Data

The major indexes are still pacing for monthly losses, though

Digital Content Manager
Sep 15, 2021 at 4:30 PM
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The Dow extended its rebound to score 236 points on Wednesday, as Wall Street attempts to shake off the September doldrums. Both the S&P 500 and Nasdaq rallied alongside the blue-chip index to score solid wins. Boosting investor sentiment was a better-than-expected Empire State index, which is an indicator of manufacturing activity in the New York region. The three major benchmarks are still pacing for monthly losses, however, with the Dow off nearly 1.4%, while the S&P 500 could have its worst month since October 2020.

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

  • Wall Street newbie attracts fresh bullish coverage.
  • Why Novavax stock looks ready to stage a rebound.
  • Plus, gambling stocks take a hit; unpacking Microsoft's stock buyback program; and what's boosting SAGE.

The Dow Jones Average (DJI - 34,814.39) added 236.8 points, or 0.7%. Walgreens Boots Alliance (WBA) led the winners with a 3.9% pop, while Cisco Systems (CSCO) and Nike (NKE) fell to the bottom, each shedding 0.5%.

The S&P 500 Index (SPX - 4,480.70) rose 37.7 points, or 0.9%, while the Nasdaq Composite (IXIC -15,161.53) jumped 123.8 points, or 0.8%. 

Lastly, the Cboe Volatility Index (VIX - 18.18) fell 1.3 point, or 6.6%.

closing summeray sept 15nyse and nasdaq sept 15

  1. U.S. Securities and Exchange Commission (SEC) chair Gary Gensler defended in an interview GameStop (GME) investors’ right to squeeze short sellers. (MarketWatch)
  2. Staff at the Food and Drug Administration (FDA) did not take a stance on booster shots of Pfizer's Covid-19 vaccine, citing unverified available data. (CNBC)
  3. Talks of new regulations in China sent these gambling stocks tumbling.
  4. Microsoft stock neared records after announcing a buyback program.
  5. Fast-track designation helped this therapeutics stock climb higher.

earnings sept 15

uvol sept 15

Oil Settles at Highest Level Since July on Lower Crude Supplies

Oil prices settled at their highest level since late July on Wednesday, after new data from the Energy Information Administration (EIA) showed an over 6 million-barrel drop in U.S. crude supplies for the week. In response, October-dated crude added $2.15 to settle at $72.61 a barrel.

Meanwhile, gold prices settled lower, giving back most of the previous session's gains. The metal is expected to continue to trade sideways until next week's Federal Reserve meeting, which could give more clues as to a timeline for tapering stimulus. As a result, December-dated gold fell $12.30, or 0.7%, to settle at $1,794.80 an ounce.

Trader: Sell These 8 Stocks in 2021

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