Stocks Stay Hot as "Fear Gauge" Cools

There are plenty of market-moving events on the horizon

Managing Editor
Nov 7, 2022 at 4:28 PM
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Stocks secured sizable wins today, with the Dow now having added 825 points in the last two trading days. The S&P 500 and Nasdaq joined the blue-chip index in the black, with investors shrugging off potential Election Day headwinds, a supply warning from Apple (AAPL), and looming inflation data later in the week. Wall Street's "fear gauge," the Cboe Volatility Index (VIX), fell for the third straight day and logged its lowest close since Sept. 12.

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

  • Put traders are growing bolder with Meta stock.     
  • There's not a whole lot to like about CarMax stock.
  • Plus, ON bull signal flashing; a political stock to watch; and the 'gig' stock to target.

The Dow Jones Average (DJI - 32,827.00) added 423.8 points, or 1.3% for the day. Walgreens Boots Alliance (WBA) paced the 27 gainers with a 4.1% win, while Nike (NKE) led the laggards with a 2.5% drop. 

The S&P 500 Index (SPX - 3,806.80) popped 36.3 points, or 1% for the day. The Nasdaq Composite (IXIC - 10,564.52) rose 89.3 points, or 0.9% for the session.

Lastly, the Cboe Volatility Index (VIX - 24.35) lost 0.2 point, or 0.8% for the session.

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5 Things to Know Today 

  1. The Fannie Mae Home Purchase Sentiment Index took a tumble for the eighth straight month in October, and is at its lowest level on record. (MarketWatch)
  2. Election Day misinformation is out there. See how these social media companies are planning to combat it. (CNBC)
  3. Signal says don't sweat struggling ON Semiconductor stock.
  4. Media stock tied to Donald Trump's 2024 prospects.
  5. One analyst thinks DoorDash stock is back.

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Oil, Gold Move in Opposite Directions

Oil prices took a breather, with black gold tied to the prospects of China easing its restrictive Covid measures. December-dated crude shed 82 cents, or 0.9% to trade at $91.79 per barrel.

Gold climbed once more, settling at four-week highs. December-dated gold added $3.90, or 0.2%, to settle at $1,680.50 an ounce.

 

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