Dow Drops as S&P 500, Nasdaq Notch Record Closes

Wall Street's "fear gauge" hit a one-week high

Managing Editor
Nov 18, 2021 at 4:26 PM
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The Dow fell for a second-straight day, as weak price action and choppy trading once more took hold of Wall Street. The S&P 500 and Nasdaq finished comfortably in the black though, both scoring record closes along the way. Jobless claims and corporate earnings dominated the conversation today, with chip stocks enjoying a halo lift from Nvidia's (NVDA) upbeat quarterly report. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), climbed to a one-week high but continues to trade in a tight range.

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

  • Two tech stocks investors should be watching.
  • Why this retailer could be a short-term contrarian play.
  • Plus, CSCO's supply chain headwinds; Sonos' post-earnings options activity; and the investing potential of a fast food staple.

The Dow Jones Average (DJI - 35,870.95) lost 60.1 points or 0.2% for the day. Apple (AAPL) was the best-performing Dow stock once more, adding 2.8%, while Cisco Systems (CSCO) led the 19 laggards with a 5.5% drop.

The S&P 500 Index (SPX - 4,704.54) added 15.6 points, or 0.3% for the day, while the Nasdaq Composite (IXIC - 15,933.71) gained 72.1, or 0.5% for the day.

Lastly, the CBOE Market Volatility Index (VIX - 17.59) added 0.5 point, or 2.8% for the day. 

closing summary Nov18

nyse nasdaq Nov18

  1. As a three-year project that is expected to begin in Spring of 2022, CVS Health (CVS) plans to close around 300 stores to reduce overhead. A notable increase in online orders is a large driver behind the move, says the drugstore chain. (MarketWatch)
  2. In an effort to combat the rising Covid-19 case count in the region, Greece's Prime Minister Kyriakos Mitsotakis said those who are unvaccinated will no longer be allowed to enter restaurants, movie theaters, museums, and gyms -- regardless of a negative test. (Reuters
  3. Blue-chip powerhouse slides on supply chain issues.
  4. Home audio name struggles on heels of revenue miss.
  5. Fast food stock set to fall flat for investors this year.

Earnings Nov18

UVOL Nov18

Gold Suffers Retreat From Yesterday's Highs

Oil prices gained today, bouncing off six-week lows. Investors are still playing the wait-and-see game with regards to crude released from strategic reserves and the amount needed to combat spiking demand. December-dated crude added65 cents, or 0.8% to settle at $79.01 a barrel today.

Gold futures gave back most of Wednesday's gains, as U.S. Treasury yields and a rising dollar continues to add pressure. December-dated gold shed $8.80 or, 0.5%, to settle at $1,861.40 an ounce, for the day.

 

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