Dow, S&P 500 Suffer 6th-Straight Loss

The Nasdaq managed to snap its losing streak

Deputy Editor
Sep 27, 2022 at 4:30 PM
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Stocks pulled back from their midday gains, though the Nasdaq managed a modest win, snapping its five-day losing streak. Both the blue-chip index and SPX logged a sixth-straight day of losses and ended at nearly two-year lows, with the latter marking its longest losing streak since February 2020 and earlier touching a fresh bear-market low. The Dow closed 125 points lower, this afternoon dropping below 29,000 for the first time in two years. Meanwhile, the 10-year Treasury yield is inching closer to 4% -- a level it hasn't seen since 2010.

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

  • How subscribers just made a notable profit on Spotify puts.
  • Cloud concern seeing several layers of resistance on the charts. 
  • Plus, 2 EV stocks boosted today; and railroad concern hit with a downgrade.

The Dow Jones Average (DJI - 29,134.99) fell 125.8 points, or 0.4%. Salesforce.com (CRM) led the winners with a 1.8% rise, while McDonald's (MCD) was the worst performer with a 2.9% drop. 

The S&P 500 Index (SPX - 3,647.29) dropped 7.8 points, or 0.2%, while the Nasdaq Composite (IXIC - 10,829.50) added 26.6 points, or 0.2%. 

Lastly, the Cboe Volatility Index (VIX - 32.60) added 0.3 point, or 1%.

closing indexes sept 27 22

nyse and nasdaq sept 27 22

5 Things to Know Today

  1. Experts are tallying up the market losses from this selloff, saying that American's balance sheets could drop an overall $9.5 trillion to $10 trillion. (CNBC)
  2. A national referendum in Cuba, which contains over 400 articles, will allow same-sex couples to marry and adopt. (Marketwatch)
  3. Analyst praises EV name over its competition. 
  4. Hertz Global announces new partnership
  5. Underperforming railroad stock included in sector bear note

There were no earnings of note today. 

uvol sept 27 22

Oil, Gold Bounce Off Lows

Oil futures rebounded from their multi-month lows, after settling at their lowest finish since early January in yesterday's session. November-dated West Texas Intermediate (WTI) crude rose $1.79, or 2.3%, to settle at $78.50 a barrel as Hurricane Ian slows production.  

Gold moved higher after two straight days of losses and their lowest level since April 2020. December gold climbed $2.80, or 0.2%, to settle at $1,636.20 per ounce. 

 

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