S&P 500, Nasdaq Turn In 6th-Straight Record Close

The Dow, meanwhile, finished with a modest loss

Deputy Editor
Nov 4, 2021 at 4:29 PM
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Stocks finished the day mostly higher, boosted by the Fed's unhurried stance on hiking interest rates and upbeat jobless claims. The Dow sat out today's gains though and logged a 33 point loss, snapping a five-day streak of record closes. Meanwhile, the S&P 500 and Nasdaq both soared to their sixth-straight record close. Elsewhere, Wall Street's fear gauge, the Cboe Volatility Index (VIX) earlier fell to its lowest level since July, but ultimately finished the session higher.

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

  • Why analysts and options traders bet on Fastly stock today.
  • Investors should be aware of this homebuilding stock.
  • Plus, unpacking Electronic Arts' earnings; VIAC brushes off revenue win; and the drugmaker reeling despite strong sales.

The Dow Jones Average (DJI - 36,124.23) shed 33.4 points or 0.09% for the day. Merck (MRK) tacked on 2.1% to lead the list of Dow winners, and Dow (DOW) fell 3.2% to pace the laggards

The S&P 500 Index (SPX - 4,680.06) added 19.5 points, or 0.4% for the day, while the Nasdaq Composite (IXIC - 15,940.31) tacked on 128.7 points, or 0.8% for the day.

Lastly, the Cboe Volatility Index (VIX - 15.44) added 0.3 point, or 2.3% for the day.

Closing Indexes Summary Nov 4

NYSE and Nasdaq Stats Nov 4

  1. The Join Committee on Taxation, a nonpartisan panel, said the Democrats' major "Build Back Better Act" would raise $1.48 trillion in revenue over the next 10 years and not add to the deficit long term. (CNBC)
  2. U.S. President Joe Biden's vaccine mandate for companies with at least 100 employees starts Jan. 4, spurring legal challenges from certain governors. (Reuters)
  3. Electronic Arts stock popped on a beat-and-raise.
  4. A big revenue win wasn't enough to save VIAC.
  5. Unpacking the impact of Covid treatments on this drug stock.

Earnings 1104

UVOL 1104

Oil Prices Fall Despite OPEC's Outlook Plan

Oil prices eased a little more today, falling after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) reiterated plans to continue with their current outlook plan. Despite recent multiyear highs in the price of black gold, and pressure from the Biden administration, the organization has decided against loosening taps and increasing production. For the day, December-dated crude shed $2.05 cents, or 2.5% to settle at $78.81 a barrel.

Gold prices, meanwhile, soared amid the Fed-induced tailwinds from yesterday. Further boosting bullions appeal was a decision by the Bank of England to keep on with dovish monetary policies. As a result, December-dated gold added $29.40 or, 1.7%, to settle at $1,793.50.

 

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