An early rally in West Texas Intermediate crude futures also fizzled out. Venezuelan President Nicolas Maduro earlier said a deal between OPEC and non-OPEC producers to stabilize the market could be announced at the upcoming meeting later in September.
First, the scoreboard:
- Dow: 18,148.76, +24.96, (0.14%)
- S&P 500: 2,142.29, +3.13, (0.15%)
- Nasdaq: 5,241.05, -3.52, (-0.07%)
- WTI crude oil: $43, +0.27, (0.6%)
- Sarepta Therapuetics shares jumped 80% after the US Food and Drug Administration green-lighted Exondys 51 (eteplirsen), the first approved drug to treat patients with Duchenne muscular dystrophy (DMD). DMD is a rare, deadly disorder in males that destroys muscle fiber. Sarepta shares were briefly halted for volatility after the spike on Monday.
- The Securities and Exchange Commission is investigating John McAfee's mysterious company. The SEC subpoenaed MGP Capital Investments requesting certain information, sending the shares down 16%. MGT, previously a fantasy sports and mobile games company with almost no revenue, announced McAfee as its CEO in May.
- The National Association of Homebuilders' housing market index, which measures sentiment, rose to an 11-month high of 65 in September. All three components - current sales, sales expectations, and traffic of prospective buyers - improved. NAHB members were encouraged by rising household incomes and a steady jobs market.
- GoPro shares rallied after the company unveiled three new action cameras and a drone. The Karma drone, retailing at $799, features a removable three-axis gimbal to stabilize footage captured by a GoPro on the drone itself, in your hands, or when a GoPro camera is mounted on your equipment. The stock gained 8% before retreating to be up 2% near the close.
Additionally:
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