Dow Jones Stock Market Update: Stocks Down Slightly Marking 6th Day of Losses in a Row
For the sixth day in a row, the Dow Jones Industrial Average is down. This is the longest losing streak for the Dow since August 2013.
Thursday, stocks ended mixed but the Dow fell all the way down to 15,935.22 before closing at 16,117.24.
Better than expected earnings reports helped erase the earlier losses and helped the Dow climb back up to the 16,100 range.
"The market is not trading off of fundamental news, it is trading off worries, whether it's the importing of weak economic growth or Ebola," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
The CBOE Volatility Index (VIX) went down by 3.1 percent. The VIX measures investor uncertainity and when it rises, investors are not confident in the markets.
"We do all have short-term memories and really have never gotten away from 2008 and 2009. Even though the market was up double digits last year, and started off well this year, there hasn't been a time in the last six years where people have had really strong convictions about this bull market," Chip Cobb, portfolio manager at BMT Asset Management told CNBC.
Company News:
Apple shares are down again Thursday after the company unveiled new iPads that failed to impress. The new iPads did not make investors too pleased. The company did refresh its desktop computer the iMac however. Apple closed down 1.3 percent at $96.26.
Netflix fell by almost 20 percent after its subscriber numbers disappointed Wall Street.
Bank of America was up over 2 percent. The banking giant had high volume as well Thursday with 94,583,500 shares traded.
What do you think of all the negative news in the markets? Leave us a comment below and let us know what you think.
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