S&P 500, Nasdaq Log Fourth-Straight Win

Dissapointing economic data out of the U.S. and China weighed on sentiment

Deputy Editor
Oct 18, 2021 at 4:28 PM
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While able to erase steeper morning losses, the Dow finished the day 36 points below breakeven. The S&P 500 and Nasdaq both logged their fourth-straight wins though, including a triple-digit pop from the latter. The earnings slate was bare today, but investors are gearing up for another jam-packed week, hopeful that it will reflect last week's impressive turnout from the finance sector.

A lackluster gross domestic product (GDP) reading out of China poured cold water on some sentiment today. A worse-than-expected U.S. industrial production decline for September also kept a lid on market optimism today, as the reading fell to its lowest level since February. 

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

  • Options bulls are undeterred by the Apple stock pullback. 
  • One beaten-down pharma stock bulls might want to reconsider. 
  • Plus, a cannabis community roundup; a blue-chip stock to target; and Winnebago's big announcement. 

The Dow Jones Average (DJI - 35,258.61) lost 36.2 points or 0.1% for the day. Goldman Sachs (GS) paced the gainers with a 1.9% pop, while Walt Disney (DIS) fell to the bottom, shedding 3%.  

The S&P 500 Index (SPX - 4,486.46) added 15.1 points, or 0.3% for the day. The Nasdaq Composite (IXIC - 15,021.81) tacked on 124.5 points, or 0.8% for the day.

Lastly, the Cboe Volatility Index (VIX - 16.32) added 0.01 point, or 0.1% for the day.

Closing Summary 1018

NYSE Nasdaq 1018

  1. Human rights activists protesting China's treatment of Uyghur Muslims in the northwest region on Xinjiang disrupted the flame lighting ceremony being held  in Greece for the 2022 Beijing Winter Olympics. The protesters were detained by police. (MarketWatch
  2. Apple (AAPL) just unveiled several new products at its online hardware event, including AirPods with spatial audio and new colors for the HomePod mini. (CNBC)
  3. Checking in with the latest cannabis stock updates. 
  4. The blue-chip stock that could see more fresh highs soon. 
  5. Winnebago made a big announcement ahead of earnings. 

There are no earnings of note today.

UVOL 1018

Oil Eyes Volatility Ahead, Ekes Out Win 

Oil prices inched higher on Monday, but ultimately fell short of their seven-year intraday peak. November-dated crude rose 16 cents, or 0.2%, to settle at $82.44 a barrel.

Gold prices continued to drop, as Bitcoin (BTC) strengthened and U.S. Treasury yields rose slightly. December-dated gold shed $2.60, or 0.2%, to settle at $1,765.70 an ounce for the day.

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