This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Get Spooked

Stocks in this article: ^DJI SNE CVX

(Updated with investor expectations for coming week.)

NEW YORK ( TheStreet) -- Volatility spiked, and a strengthening dollar, compounded with a soft consumer spending report and sustainability fears, made for a dreary close to the month and what one observer called "a precarious position."

October held true to its reputation as a bad month for stocks: The Dow Jones Industrial Average edged up less than one half of a point; the S&P 500 lost just less than 2%; and the Nasdaq fell 3.6%.

Much of those losses materialized Friday. The Dow lost 249.85 points, or 2.5%, to 9709, while the S&P 500 fell 29.93 points, or 2.8%, to 1036.18. The Nasdaq plunged 52.44 points, or 2.6%, to 2045.11.

Perhaps appropriate for the day before Halloween, the CBOE volatility index, considered a reading on fear in the market, rose 24% to above 30.

"It tells me we still have a lot of fear and doubt and a continuation of climbing the wall of worry," says Jim Paulsen, chief investment officer, Oaktree Asset Management. But volume is "extraordinarily low," he says, and, "I think it's more traders are moving this around on whatever information they can find to push this thing where they want."

For the five-day session, the Dow lost 2.6%, the S&P 500 gave up 4%, and the Nasdaq fell 2.6%.

Nonetheless, "I think at the end of the day we've completed another week where the vast majority of the reports on the economy and earnings were better than expected," says Paulsen. "As of now, I don't see that it's any different -- I fail to see why it should roll into something else, when we're turning a corner."

With the majority of S&P 500 companies having reported, investors' primary focus is likely to shift from earnings to economic data in the coming week. Among the week's releases will be the government's employment report for October.

Vote in's market poll here.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs