Stocks closed modestly lower Tuesday on Wall Street after a rally faded in the last few minutes of trading following a sudden drop in the price of crude oil.
Major indexes ended slightly lower after being up more than 3% earlier. The market was coming off an even bigger gain of 7% the day before.
The rally faded after the price of U.S. oil flipped from a gain to a steep loss of more than 9%. It had otherwise been an ebullient day for markets worldwide following encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.
The S&P 500 index fell 4.27 points, or 0.2%, to 2,659.41.
The Dow Jones Industrial Average dropped 26.13 points, or 0.1%, to 22,653.86.
The Nasdaq slid 25.98 points, or 0.3%, to 7,887.26.
The Russell 2000 index of smaller company stocks inched 0.39 points higher, or less than 0.1%, to 1,139.17.
For the week:
The S&P 500 is up 170.76 points, or 6.9%.
The Dow is up 1,601.33 points, or 7.6%.
The Nasdaq is up 514.18 points, or 7%.
The Russell 2000 is up 87.12 points, or 8.3%.
For the year:
The S&P 500 is down 571.37 points, or 17.7%.
The Dow is down 5,884.58 points, or 20.6%.
The Nasdaq is down 1,085.35 points, or 12.1%
The Russell 2000 is down 529.30 points, or 31.7%.
10 Dividend Aristocrat Stocks to Buy Now
The stock market is having its worst week since the financial crisis. For some investors, a flight to safety has them getting out of the market. But other investors are taking a flight to quality. And when it comes to quality in equities, these are the moments when dividend stocks shine.
Already JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) are projecting that the coronavirus may wipe out corporate earnings growth for 2020. If investors can’t count on their equities to provide capital gains, they look to dividends to boost their total return.
But like any investment, not all dividend stocks are alike. Some of the best dividend stocks are the dividend aristocrats. By definition, for a company to become a dividend aristocrat, they must have at least 25 consecutive years of dividend growth (not just issued a dividend).
These companies have a proven track record of weathering market turbulence and delivering solid performance. And, right now, there are only 64 of these companies. In this presentation, we’ll give you 10 dividend aristocrat stocks you can invest in right now.
View the "10 Dividend Aristocrat Stocks to Buy Now".