November Kicks Off With Record Closes for Dow, SPX

The Nasdaq closed firmly in the black as well

Deputy Editor
Nov 1, 2021 at 4:30 PM
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After a promising start to the day, followed by mixed midday trading, the major indexes finished the first day of November higher. The Dow scored an intraday high and a record close after popping 94 points, thanks to gains from components Boeing (BA) and Dow (DOW). The S&P 500 also notched an intraday and fresh closing high after trading near breakeven for the latter part of the session. Elsewhere, the tech-laden Nasdaq finished the session firmly in the black, boosted by gains from Tesla (TSLA), which recently became a $1 trillion company.

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

  • The crypto giant that options traders are raving about.
  • GameStop stock brushed off some c-suite drama.
  • Plus, AMC Entertainment's blockbuster ticket sales; Spotify stock's bull note; and unpacking Trivago's earnings.

The Dow Jones Average (DJI - 35,913.84) added 94.3 points or 0.3% for the day. BA paced the gainers, tacking on 3.7%, while Home Depot (HD) fell to the bottom with a 1.4% loss. 

The S&P 500 Index (SPX - 4,613.67) added 8.3 points, or 0.2% for the day, while the Nasdaq Composite (IXIC - 15,595.92) tacked on 97.5 points, or 0.6% for the day.

Lastly, the Cboe Volatility Index (VIX - 16.41) gained 0.2 point, or 0.9% for the day.

closing summary 1101

nyse nasdaq 1101

  1. Some major Democratic donors have reportedly threatened to withhold donations leading into next year's midterm elections, unless the party scores some big wins soon. (CNBC)
  2. Global Covid-19 deaths reached 5 million, according to the World Health Organization (WHO); though the actual number may be even higher. (MarketWatch)
  3. AMC stock surged after a stellar box office performance. 
  4. Morgan Stanley called this music streaming giant a "top pick."
  5. Trivago announced top- and bottom-line beats.

Earnings 1101

UVOL 1101

Oil Springboards Off of Session Lows

Oil prices reversed course from their session lows, gaining as investors braced for strong demand for black gold and the likelihood that a key producer group won't dish out crude too fast in order to reverse initial losses stemming from China's fuel reserves. In response, December-dated crude added 48 cents, or 0.6% to settle at $84.05 a barrel.

Gold settled also closed higher to kick off November. Bullion was boosted ahead of a key Federal Reserve meeting, slated to take place later this week and shine light on the central bank's plan for tapering economic stimulus. December-dated gold jumped $11.90 or, 0.7%, to settle at $1,795.80.

 

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