A quick rundown of today's market-moving events
After beginning the first day of the month with triple-digit gains, stocks pulled back slightly for marginal wins on Thursday. Yesterday's volatility comes as the outlook for further fiscal stimulus in the U.S. muddied, after House Majority Leader Steny Hoyer's office relayed that the House was expected to vote on the new stimulus bill. While the $2.2 trillion Democratic bill was primed to be passed on Wednesday night, lawmakers delayed a vote to allow House Speaker Nancy Pelosi and Treasure Secretary Steven Mnunchin more time to talk about a bipartisan plan.
The Dow Jones Industrial Average (DJI - 27,816.90) rose 35.2 points on the day yesterday. The S&P 500 Index (SPX - 3,380.80) added 17.8 points for the day, and the Nasdaq Composite (IXIC - 11,326.51) gained 159 points on Thursday. Lastly, the Cboe Volatility Index (VIX - 26.70) tacked on 0.3 point during yesterday's trading session.
As we wrap up the week today, Wall Street will be all eyes on the unemployment rate weekly update, as well as nonfarm payrolls data. It's important to note that today's jobs report will be the last report on the American labor market before the presidential election, as economists are predicting an unemployment rate higher than it has ever been going into an election.
There are no notable earnings reports scheduled for today. So, it's time to catch up on the hot stocks presenting major options play opportunities right now before the opening bell:
With the tumultuous month of September finally behind us, the first full week of October won't offer much of a breather as coronavirus and election concerns are expected to continue to escalate. The economic calendar features a Fed update, and investors will also be keeping an eye on crude oil inventories and energy data.
As far the earnings docket goes, just a small handful of big names stepping into the limelight next week, including Delta Air Lines (DAL) Domino's Pizza (DPZ) and Levi Strauss (LEVI). Next week will kick off with the non-manufacturing Purchasing Managers' Index (PMI) due out on Monday and no notable earnings reports on deck, yet.
Want to learn more about volatility and the VIX? We have you covered. We broke down different concepts of volatility this week, and we teamed up with Cboe Global Markets for a VIX round table, where we discuss different ways to use volatility in 2020 in our weekly podcast, Schaeffer's Market Mashup.
All earnings and economic dates listed are tentative and subject to change. Please check with each company's respective website for official reporting dates.