Stock Market Today: Dow Falls for Third Straight Day
Oil futures logged their sixth consecutive loss.


It was another volatile day on Wall Street.
The quickly spreading delta variant of COVID-19 continued to spook investors, and Thursday’s unemployment claims data – which showed first-time applicants fell by 29,000 last week to a pandemic-low 348,000 filings – only underscored signs of a tightening pool of available workers.
"The labor market is the Fed's primary target with its stimulus programs," says Andy Kapyrin, partner and co-head of Investments at wealth management firm RegentAtlantic. "It wants to see very significant progress towards full employment before it backs off."
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free 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.
Although the major indexes traded on either side of breakeven all day, bargain-hunters helped pull the S&P 500 Index (+0.1% at 4,405) and Nasdaq Composite (+0.1% at 14,541) to a higher close.
The Dow Jones Industrial Average, however, wasn't so resilient, slipping 0.2% to 34,894, as oil major Chevron (CVX, -2.5%) plunged on a sixth straight drop for U.S. crude futures (-2.7% to $63.69 per barrel) – the longest such streak since February 2020. The industrial average has now closed lower for three consecutive sessions.
Other news in the stock market today:
- The small-cap Russell 2000 gave back 1.2% to 2,132.
- Chip giant Nvidia (NVDA, +4.0%) gained ground on the back of a strong second quarter. Revenues of $6.51 billion and earnings of $1.04 per share both beat analysts' expectations, and current-quarter sales forecasts of $6.8 billion also beat the Street's estimates. "Headline results + guidance were solid yet again and met elevated investor expectations, particularly with respect to implied guidance for data center," say UBS analysts Timothy Arcuri and Pradeep Ramani, who rate the stock at Buy. "Gaming is trending more in-line into the seasonally strong Oct Q, ProVis has stepped up as Ampere starts to penetrate these high-end workstations, and data center is so strong that it is more than offsetting a decline in the crypto-specific CMP SKU."
- Also rising Thursday was Cisco Systems (CSCO, +3.8%), which also beat the pros' expectations on the top and bottom lines. Revenues of $13.1 billion were up 8% year-over-year to close out the company's fiscal fourth quarter. Better still, the networking hardware firm believes it will grow sales by 7.5% to 9.5%, beating Street expectations, though the midpoint of its earnings guidance (80 cents per share) came in slightly under analysts' views (81 cents).
- Gold futures slipped 0.1% to $1,782.30.
- The CBOE Volatility Index (VIX) rose 0.5% to 21.67.
- Bitcoin prices jumped 3.9% to $46,690.83. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
Build Up That Defense
Is it time to go to cash?
Not necessarily, says Phil Toews, CEO of advisory firm Toews Corporation. "In the current market environment, investors should be focused on riding the 'crash up' while still maintaining a more defensive position in their portfolio."
To do so, he recommends low-volatility stocks, which tend to be more value-oriented. "Their positioning is defensive, with reasonable valuations, historically reduced max drawdowns during bear markets, and stronger cumulative returns during bear-market decline and recovery."
Investors looking to bolster the defensive part of their portfolios may want to consider yield-friendly names from the utilities or consumer staples sectors.
There's also plenty of generous dividend payers – and lower volatility options – to be found among real estate investment trusts (REITs). And if you're looking for easy diversification in your defensive plays, consider these seven REIT ETFs. They represent numerous industries and investment approaches, all with attractive yields to boot.
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.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
The Real Cost of Streaming Live Sports in 2025
Streaming your favorite team keeps getting more expensive. Here’s the true cost of sports — and how to save.
-
It Could Soon Be Harder to Get a Refund on a Flight Gone Wrong
The Department of Transportation's deregulation efforts are taking aim at your rights to compensation for delays, canceled flights, lost baggage and more.
-
Stocks Slide to Start September: Stock Market Today
Seasonal trends suggest tough times for the stock market as we round into the end of the third quarter.
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have Today
Sherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
-
AI Start-ups Are Rolling in Cash
The Kiplinger Letter Investors are plowing record sums of money into artificial intelligence start-ups. Even as sales grow swiftly, losses are piling up for AI firms.
-
If You'd Put $1,000 Into UnitedHealth Group Stock 20 Years Ago, Here's What You'd Have Today
UNH stock was a massive market beater for ages — until it wasn't.
-
S&P 500 Tops 6,500 Even as Nvidia Slips: Stock Market Today
The world's most valuable company closed lower after earnings, but the S&P 500 managed to notch a new record high.
-
Stocks Edge Higher With Nvidia, Fed in Focus: Stock Market Today
The AI bellwether reports earnings after today's close, while Wall Street is keeping a cautious eye on President Trump's attacks against the Fed.
-
President Trump Makes Markets Move Again: Stock Market Today
The White House is moving ahead with plans to reshape the Federal Reserve and to buy shares in more sectors and stocks.
-
Stocks Struggle to Start Nvidia Week: Stock Market Today
Another important week for the stock market starts on a risk-off note.