Schaeffer's Midday Market Check The Dow, S&P, and Nasdaq are all eyeing August losses
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| | | 8/30/2019 | |
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| Dow Erases Early Gains, Eyes Monthly Loss | | By Lillian Currens | | The Dow Jones Industrial Average (DJI) has erased an early triple-digit gain and is now staring down a 50-point loss at midday. Stocks initially rose on data showing solid consumer spending in July and signs of progress on U.S.-China trade relations, though another round of tariffs on Chinese goods is set to hit over the long weekend. Elsewhere, President Donald Trump today once again took aim at the central bank, saying, "We don't have a Tariff problem ... we have a Fed problem. They don't have a clue!" The blue-chip index is on pace to end a dramatic August in the red, set for its first monthly loss since May. Likewise, the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) are looking to end both the day and the month south of the breakeven. On top of this, Wall Street's "fear gauge" -- the Cboe Volatility Index (VIX) -- is set for its biggest monthly gain since May, too. Continue reading for more on today's market, including: - Why these 2 penny stocks are popping.
- History says steer clear of these 25 stocks in September.
- Plus, options bears up the ante ahead of Slack Technologies' earnings report; SeaChange skyrockets; and ULTA eyes its biggest one-day drop ever.
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