Triple-Digit Drop Denies Dow History

The Dow snapped its longest win streak since 1987

Managing Editor
Jul 27, 2023 at 4:24 PM
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The Dow dodged the history books today, falling short of a 14th win after turning in a triple-digit loss. The blue-chip index was up midday, but gave back its gains in the afternoon. The S&P 500 and Nasdaq also finished lower, the latter unable to gain ground even with a post-earnings pop from Meta Platforms (META). In what was probably a session of profit-taking, the Cboe Volatility Index (VIX) closed at its highest level since July 11.

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

  • These 3 stocks scored new highs today.
  • McDonald's stock near a key level once more.
  • Plus, META earnings; inside a traders' selection process; and put debit spreads.

Summary 0727

NYSE Nasdaq 0727

5 Things to Know Today

  1. Former Fed President sees another interest rate hike for 2023. (MarketWatch)
  2. China is trying to prop up its property market. (Bloomberg)
  3. More on the high-profile Meta earnings.
  4. Podcast: how do traders monitor stocks of interest?
  5. Entering put debit spreads is easier than you think.

Earnings 0727UVOL 0727Oil Moves Higher on Tightening Supply

Oil crossed the $80 threshold today, as global supplies continued to tighten. September-dated oil added $1.31, or 1.7%, to settle at $80.09 per barrel.

Gold took a breather today as upbeat economic data points to the U.S avoiding a recession. August-dated gold shed $24.40, or 1.2%, to settle at $1,945.70 an ounce.


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