How This Drug Stock Won the Day

Bank and industrial stocks led the charge today

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Schaeffer's Market Recap
8/03/2021
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Dow Nabs 278-Point Pop Despite Delta Worries


By: Jake Scott

The major benchmarks ended today's session higher, despite increased fears regarding the Delta Covid-19 variant. Bank and industrials names propped up the broader market, though lackluster gains from "reopening plays" remain a story. The Dow closed with a 278-point pop, its best single-session gain since July 21.

The S&P 500 and Nasdaq also finished in the black, with the former notching a record close and the latter pulling off an impressive late-day comeback as the 10-year Treasury yield stabilized after falling near five-month lows. Elsewhere, the Cboe Volatility Index (VIX), Wall Street's "fear gauge," shed all of yesterday's gains to finish 9% lower. 

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

  • Fresh highs for Eli Lilly stock after earnings.
  • Call traders respond to Cheesecake Factory's earnings report.
  • Plus, options bulls blast UAA; more on BP's big dividend hike; and a rough day for Take-Two interactive.
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