Wall Street Snaps 3-Week Losing Streak

The VIX suffered its worst week since June

Deputy Editor
Sep 9, 2022 at 4:30 PM
facebook X logo linkedin

The major indexes managed to finish strong, each securing a third-straight daily win while simultaneously snapping three-week losing streaks -- brushing off interest rate concerns and comments from Federal Reserve Chairman Jerome Powell. Both the Dow and Nasdaq closed up triple digits, while the S&P 500 finished firmly in the black as well. Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its worst week since late June. 

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

  • Tesla is in the spotlight on lithium refinery plans. 
  • Why Zumiez stock touched a 2-year low today. 
  • Plus, the sector for bulls to avoid this month; and 2 stocks hit with downgrades.

The Dow Jones Average (DJI - 32,151.71) added 377.2 points, or 1.2% for the day, and 2.7% for the week. Salesforce.com (CRM) paced the winners with a 3.6% rise, while UnitedHealth Group (UNH) landed at the bottom of the list with a slim 0.3% drop. 

The S&P 500 Index (SPX - 4,067.36) tacked on 61.2 points, or 1.5% for the day, and 3.7% for the week. Meanwhile, the Nasdaq Composite (IXIC - 12,112.31) added 250.2 points, or 2.1% for the day, and 4.1% for the week. 

Lastly, the Cboe Volatility Index (VIX - 22.79) shed 0.8 point, or 3.5% for today's session, dropping 10.5% for the week.

closing index summary sept 9 22

nyse and nasdaq sept 9 22

5 Things to Know Today

  1. G-7 countries are still trying to recruit more countries to join a Russian oil price cap, which is expected to expected to go into effect by the end of the year. (CNBC)
  2. Restaurant Brands' (QSR) Burger King plans to spend $400 million in the next two years as it refreshes and modernizes its brand. (CNBC)
  3. Why Real Estate Investment Trust's (REITs) tend to underperform in September. 
  4. Analyst says loan forgiveness could cause trouble for Navient. 
  5. Why options bears targeted Virgin Galactic stock today. 

earnings sept 9 22

uvol sept 9 22

Oil Prices Post Small Weekly Loss

Oil prices climbed for the second day as supply concerns loom. October-dated crude rose $3.25, or 3.9%, to settle at $86.79 per barrel on the New York Mercantile Exchange. For the week, the front-month contract inched 0.1% lower. 

Gold futures rose today as the U.S. dollar retreated from a 20-year high. December-dated gold added $8.40, or 0.5% settle at $1,728.60 per ounce for the day, and gained roughly 0.4% for the week. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI