Dow Loses Another 142 Points, Slides to 5th-Straight Dip

The S&P 500 also added its fifth-straight daily loss

Digital Content Manager
Jul 14, 2022 at 4:27 PM
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It was another dismal day on Wall Street as the Dow and S&P 500 logged their fifth-straight daily drops, with the former shedding 142 points. Meanwhile the Nasdaq settled just above breakeven, snapping a three-day losing streak. This morning's dismal jobless claims data, as well as a number of lackluster earnings reports out of the bank sector weighed heavily on sentiment, which was further compacted by fears that the U.S. Federal Reserve could turn even more hawkish in an effort to fight inflationary pressures. 

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

  • How options traders responded to this morning's Twitter outage
  • Is this cyber security name ready for a bounce?
  • Plus, IBM hit with bear note; CAG posts earnings miss; and breaking down 2 bank giants' quarterly reports.

The Dow Jones Average (DJI -  30,630.17) gave up 142.6 points, or 0.5% for the day. Boeing (BA) led the gainers, adding 2.2%. Travelers Companies (TRV) paced the laggards with a 4.7% fall.

The S&P 500 Index (SPX - 3,709.38) lost 11.4 points, or 0.3% for the day. Meanwhile, the Nasdaq Composite (IXIC - 11,251.19) added 3.6 points, or 0.03% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 26.40) lost 0.4 point, or 1.6% for the day.

Closing Summary July14

nyse nasdaq july14

5 Things to Know Today

  1. Earlier today Texas said it would file a lawsuit to block the Biden administration's rule requiring hospitals and physicians to perform abortions in the case of a medical emergency. (CNBC)
  2. The senate is expected to hold a preliminary vote next week on a bill that would give $52 billion in incentives and investment-tax credit to U.S. semiconductor manufacturers, as part of a trimmed-down China competition bill. (MarketWatch)
  3. The Dow member hit with a pre-earnings bear note
  4. A closer look at Conagra's revenue miss
  5. These 2 bank stocks saw a miserable post-earnings turnout. 

Earnings July14

UVOL July14

Gold Hits Lowest Level Since March 2021

Oil prices were weighed upon by piling concerns over weaker demand for the commodity, which are starting to overshadow worries about tightening supply amid the Russia-Ukraine war.  August-dated crude shed 52 cents, or 0.5%, to finish at $95.78 per barrel for the day, settling at its lowest level since April.

Yesterday's victory turned out to be short-lived, as today's gold prices took a nose dive as the U.S. dollar grew even more hardy. August-dated gold lost $29.70, or 1.7%, to close at $1,705.80 an ounce, marking its lowest settlement since March 30, 2021, and earlier touching a low of $1,695.


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