Stocks Finish Lower As Apple Suffers Worst Day Since August
The Dow Jones Industrial Average (DJIA) finished lower today, dragged down by Apple's (AAPL) worst session since August. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also finished in the red, despite a solid day from retail stocks. Energy stocks also had a good day, after a pipeline explosion in Libya sent oil prices to a two-and-a-half-year high. Still, the CBOE Volatility Index (VIX) -- or Wall Street's "fear gauge" -- marked its highest close in nearly two weeks.
Continue reading for more on today's market, including:
2 blue-chip stocks to buy now.The chip stock struggling on iPhone X concerns.The drug stock that moved on M&A buzz.Plus, trouble ahead for VZ stock; a natural gas stock ready to explode; and 2 Apple suppliers that got drilled.The Dow Jones Industrial Average (DJIA - 24,746.21) finished 7.9 points lower. Home Depot (HD) led 16 Dow stocks higher with its 1.2% win, while AAPL paced the 16 decliners with its 2.5% loss.
The S&P 500 Index (SPX - 2,680.50) finished 2.8 points, or 0.1%, lower. The Nasdaq Composite (IXIC - 6,936.25) lost 23.7 points, or 0.3%.
The CBOE Volatility Index (VIX - 10.25) gained 0.4 point, or 3.5%.
5 Items on Our Radar Today
After falling to a low of $10,400 on Friday, bitcoin mounted an impressive recovery today, adding more than 12.5% at one point. The digital currency has now recovered more than 50% from Friday's low, though Coinbase reported continued transaction delays.(CNBC) U.S home prices increased by an impressive 6.2% year-over-year in October, rising by the most since 2014, according to the S&P Case-Shiller national index. However, the prices are growing at a rate that is outpacing wage growth, raising concerns about affordability. (Bloomberg)Why Verizon (VZ) stock could struggle next week.The energy stock that could kick off 2018 with a bang.2 Apple suppliers that got crushed.
There are no quarterly earnings to report.
Data courtesy of Trade-Alert
Commodities
Crude slated for February delivery climbed $1.50, or 2.6%, to close at $59.97 per barrel, the best close since June 2015. An explosion at a pipeline in Libya sparked the surge, which briefly took black gold above $60 per barrel.
February-dated gold futures added $8.70, or 0.7%, to settle at $1,287.50 an ounce -- a three-week high. A struggling dollar lifted the safe-haven asset.