Stock Market Today: Dow Wobbles Higher Into the Weekend
ADBE climbs higher on record revenues; Goldman, Morgan Stanley downgrade TSLA


A day after the market's worst loss since March's volatility-riddled dips, investors were subjected to a nauseating few hours of trading that saw stocks flip between gains and losses before finally settling higher.
Wall Street appears to be weighing just how much of the rally off the March lows has been justified by slowly improving economic data, especially amid growing COVID-19 case figures in states such as Texas and Arizona.
Among the day's more notable moves? Adobe (ADBE, +4.9%) shot higher after reporting record quarterly revenue on the back of a work-from-home surge in subscription demand. Tesla (TSLA, -3.9%) continued its retreat from a peak above $1,000 per share after Goldman Sachs and Morgan Stanley both downgraded the stock on valuation concerns, among other worries.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The Dow closed Friday with a 1.9% gain, led by Boeing (BA, +11.5%). The S&P 500 closed 1.3% higher to 3,041, the Nasdaq finished with a 1.0% improvement to 9,588, and the small-cap Russell 2000 improved by 2.0% to 1,383.
"The market was set up for a period of consolidation, and this economic recovery has a long and choppy road ahead," Canaccord Genuity equity strategist Tony Dwyer told clients in a recent note.
Indeed, the U.S. is fighting a pandemic, and it's uncear who's winning. Trade relations with China are shaky again. The 2020 presidential election is just months away. And in the very short term, a light earnings calendar will give investors limited insight into corporate America's direction.
Still, Dwyer points out that "when the market is getting hit, it is important to remember the macro factors that have caused the move off the low remain in place. The Fed is literally printing money for the foreseeable future, a vaccine that could allow a more aggressive economic reopening may be nearby, and the economy should continue to inflect off the low."
Investors looking to smooth out turbulence for now can remain long via low-volatility funds or use dips to buy high-quality retirement stocks at discount prices.
But positioning your portfolio for success also means steering clear of traps and weeding out weaker holdings. We've recently highlighted five stocks that remain highly vulnerable – especially in the event that the broader market takes another short-term spill. Investors should check their portfolios for each of these stocks, and learn more about their growing bear cases.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Over 50 and Still Paying Student Loans? Here's Some Help
It's the club no one wants to join. But if you are over 50 and still paying student loans, there are ways to tackle both debt and retirement savings.
-
Eight Estate Planning Steps to Protect Your Loved Ones (and Your Legacy)
Two-thirds of Americans don't have an estate plan. If you're one of them, these are the essential steps to take now to prevent problems for your family later.
-
Stock Market Today: Good Feelings and Solid Data Lift Stocks
Resilience and de-escalation defined another generally positive day for financial markets.
-
Stock Market Today: Tesla Drags on Stocks Amid Musk-Trump Feud
Sentiment has soured between President Trump and his once-loyal ally, Tesla CEO Elon Musk.
-
Stock Market Today: Stocks Brush Off Weak Jobs Data
The yields on the 2-year and 10-year Treasury notes fell sharply after a pair of weak economic reports.
-
Stock Market Today: Rally Extends on Good-Enough Expectations
Fiscal policy still has markets' attention, but taxes rather than tariffs and deficits rather than inflation are participants' primary focus.
-
Stock Market Today: Markets Move With Fresh Trade War Winds
The new uncertainty is the same as the old uncertainty, which is fine with investors, traders and speculators.
-
Stock Market Today: Stocks Bounce as US-China Tensions Escalate
Stocks were volatile to end the week and the month amid concerns a trade truce between the U.S. and China is splintering.
-
Stock Market Today: Stocks Chop as Judges Block Then Reinstate Tariffs
The Trump administration has asked for and received a stay in a case that seems headed for the Supreme Court.
-
Stock Market Today: Stocks Struggle Ahead of Nvidia Earnings
The three main indexes closed lower as Wall Street awaited the AI bellwether's quarterly results.