The stretch of declines continued today. The Dow 30 was lower by 1952, the S&P 500 sold off 17, and the Nasdaq 100 closed down the day by 68. The Dow continued to see weakness especially in the "trade fear" names like Boeing (NYSE: BA) and Caterpillar (NYSE: CAT), which were both lower again today.
Here's a recap by sector.
Semiconductors (NYSE: SMH) were lower today thanks in part to Intel (NASDAQ: INTC), which lost 2% on news that its CEO was stepping down. The company reported that the CEO had a consensual relationship with an employee against company policy. Intel accounts for 10% of the SMH holdings and other large holdings like Nvidia (NASDAQ: NVDA) and Micron Technology (NYSE: MU) make up another 10%, which were also lower on the day.
Oil (NYSE: USO) trading was mixed ahead of the big OPEC meeting tomorrow. Investors will be eyeing this one closely to decide the future of an agreement that, at the moment, is capping their production. Traders expect plenty of volatility ahead for oil.
Retail stocks (NYSE: XRT) were a bit mixed today as the Supreme Court overturned a rule that had been in place since 1992. The new law allows states to collect sales tax on purchases from online businesses that have no physical presence in the state. This hurt names like Etsy (NASDAQ: ETSY), Ebay (NASDAQ: EBAY), Wayfair (NYSE: W), and Amazon (NASDAQ: AMZN) where smaller sellers currently do not have to account for state sales tax.
And here are a few noteworthy stocks. Darden Restaurants (NYSE: DRI) shares shot higher by 14% on the day after a beat on earnings. The company reported strong numbers at their Olive Garden, Capital Grille, and LongHorn Steakhouse brands, among others. Shares are now positive by about 9% on the year.
Kroger Grocers (NYSE: KR) shares were higher on the day by 9% after beating on earnings as well. Shares have been lower since the last earnings results, but all of that loss has now been recovered.