The Dow was dragged lower by Walt Disney's earnings report
Following yesterday's inflation-driven selloff, the major indexes were eyeing a comeback to finish today's session. However, the Dow still backpedaled 158 points, locking in its third-straight loss following blue-chip member Walt Disney's (DIS) worst quarterly report in 10 years. Meanwhile, the S&P 500 and Nasdaq closed higher, the latter adding triple digits after a host of tech stocks rebounded while the bond market was closed in observance of Veteran's Day.
Continue reading for more on today's market, including:
- This food stock is steadying near all-time highs before earnings.
- What sent Beyond Meat stock spiraling today?
- Plus, Bumble sees new users decline; fintech company notches bull notes; and 1 EV stock benefiting from a recent IPO.
The Dow Jones Average (DJI - 36,921.23) fell 158.7 points or 0.4% for the day. The best performing blue chip component, Walgreens Boots Alliance (WBA), added 2%. Meanwhile, Walt Disney (DIS) paced the laggards, shedding 7%.
The S&P 500 Index (SPX - 4,649.27) added 2.6 points, or 0.06% for the day, while the Nasdaq Composite (IXIC - 15,704.28) gained 81.6 points, or 0.5% for the day.
Lastly, the CBOE Market Volatility Index (VIX - 17.66) shed 1.1 point, or 5.7% for the day.
- U.S. Immigration and Customs Enforcement (ICE) is speeding up deportation proceedings for certain unprocessed migrants. (CNBC)
- With tax season around the corner amid a period of higher inflation, the IRS released its new standard deductions and tax brackets. (Reuters)
- Bumble stock hit an all-time low as new users decline.
- Bull notes rolled in for this fintech company after earnings.
- Revian's IPO helped this electric vehicle stock soar.
Gold Climbs for Sixth-Straight Day on Inflation Concerns
Oil prices gained today, moving slightly higher as investors worry over rising inflation in the U.S. In addition, the Organization of the Petroleum Exporting Countries and its allies' (OPEC+) said it will cut its 2021 oil demand forecasts in the face of higher crude prices. In response, December-dated crude added 25 cents, or 0.3% to settle at $81.59 a barrel.
Gold prices stayed steady near their highest level since June, as bullions appeal was boosted by rising anxieties concerning inflation. December-dated gold added $15.60 or, 0.8%, to settle at $1,863.90 on the day, marking its sixth-straight gain.