The market's early-week euphoria over COVID vaccine progress has mostly run out amid more immediate-term worries about the virus itself.
The Washington Post reported late Wednesday that U.S. caseloads had spiked to yet another all-time high of 145,000. Hospitalizations eclipsed 65,000, and the daily death toll of 1,549 was the highest total since mid-May. New York City restaurants, bars and gyms face new restrictions starting Friday, and Chicago has announced a stay-at-home advisory starting Nov. 16.
The most recent weekly unemployment claims declined from 757,000 to a still-elevated 709,000, the Labor Department reported Thursday. Kenny Polcari, managing partner of Kace Capital Advisors, adds that "rising COVID-19 cases nationwide and the possibility of additional lockdowns could threaten the jobs recovery we've seen over the past few months."
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 Jones Industrial Average dropped 1.1% to 29,080.
Other action in the stock market today:
- The S&P 500 fell 1.0% to 3,537.
- The tech-heavy Nasdaq Composite fared a little better, declining 0.7% to 11,709.
- The small-cap Russell 2000 plunged 1.8% to 1,706.
- December gold contracts gained 0.6% to $1,873.30 per ounce.
- U.S. crude oil settled at $41.12 per barrel, a 0.8% decline.
About That Value Rotation ...
Is the "great rotation" into value dead, or merely on pause? Well, many analysts remain confident in a vaccine sparking a switch in market leadership.
"(Vaccine) news, paired with the near-record valuation gap between value and growth stocks, could bode well for a sustained, multi-year rotation toward value outperformance," says Brent Fredberg, director of investments at Brandes Investment Partners.
But the market doesn't move in a straight line, and there's a lot of daylight between where we are now and when a vaccine will be approved and widely distributed. That's valuable time for investors to load up on value stocks if they're still confident in this eventual rotation.
Fund-minded investors can obtain inexpensive and diversified exposure to various value bundles via these seven great value ETFs. Meanwhile, if you prefer the concentrated oomph of stock picking, you can start with these bargain-priced Dividend Aristocrats.
But if you're looking for the most revered of value stocks, look for where the bulls are most crowding around. Each of these seven value stocks are cheaper than the broader market, and in most cases, cheaper than the value peer average and/or their sectormates ... and the analyst community is wild about them.
-
Kiplinger News Quiz, August 8, 2025News Quiz Tariffs, Apple and ESPN all made the headlines this week — but why? Test your knowledge of this week's financial and business news.
-
Nasdaq Ends the Week at a New High: Stock Market TodayThe S&P 500 came within a hair of a new high, while the Dow Jones Industrial Average still has yet to hit a fresh peak in 2025.
-
If You'd Put $1,000 Into Berkshire Hathaway Stock 20 Years Ago, Here's What You'd Have TodayBerkshire Hathaway is a long-time market beater, but the easy money in BRK.B has already been made.
-
If You'd Put $1,000 Into Procter & Gamble Stock 20 Years Ago, Here's What You'd Have TodayProcter & Gamble stock is a dependable dividend grower, but a disappointing long-term holding.
-
My Three-Day Rule for Investing: And If it Applies NowStock Market I've seen a lot in my career. Here's what I see now in the stock market.
-
Is It Time to Invest in Europe?Stock Market Europe is being shaken out of its lethargy, militarily and otherwise, by Donald Trump's changes in U.S. policy. Should investors start buying?
-
Why Is Warren Buffett Selling So Much Stock?Berkshire Hathaway is dumping equities, hoarding cash and making market participants nervous.
-
If You'd Put $1,000 Into Google Stock 20 Years Ago, Here's What You'd Have TodayGoogle parent Alphabet has been a market-beating machine for ages.
-
Stock Market Today: Stocks Retreat Ahead of Nvidia EarningsMarkets lost ground on light volume Wednesday as traders keyed on AI bellwether Nvidia earnings after the close.
-
Stock Market Today: Stocks Edge Higher With Nvidia Earnings in FocusNvidia stock gained ground ahead of tomorrow's after-the-close earnings event, while Super Micro Computer got hit by a short seller report.
