Stocks Buoyed by Upbeat Jobs Data; Oil Soars to Nine-Month High

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Despite downbeat earnings from HPQ, the Dow notched a daily victory

by Elizabeth Harrow (eharrow@sir-inc.com) 2/23/2012 4:32:08 PM

Stocks quoted in this article:

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Crude futures closed higher today, thanks in part to a well-received report on domestic unemployment claims. This news helped the euro gain ground on the greenback, providing a boost for dollar-denominated commodities. Meanwhile, concerns about potential supply disruptions from Iran continue to support black gold, particularly after today's inventories report showed a steeper-than-forecast drawdown in gasoline stockpiles. By the close, crude oil for April delivery added $1.55, or 1.5%, to settle at $107.83 per barrel -- the contract's latest nine-month high.

Weakness in the dollar was also a boon for gold futures, with the precious metal finding a new year-to-date high in today's trading. Gold for April delivery ended the day up $15, or 0.9%, at $1,786.30 per ounce -- its loftiest perch since Nov. 15.

Levels to Watch in Trading:

Dow Jones Industrial Average (DJIA – 12,984.69) - support at 10,500; resistance at 13,000

S&P 500 Index (SPX – 1,363.46) - support at 1,100; resistance at 1,400

Nasdaq Composite (COMP – 2,956.98) - support at 2,400; resistance at 3,000

OUTPERFORMING AND UNDERPERFORMING SECTORS

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Thursday, May 23, 2013
Another Wide Trading Range Resolves Slightly Lower

The Dow Jones Industrial Average (DJI) traded in another wide range, from 15,180.23 a half-hour after the opening bell, to 15,348.41 roughly an hour before the close. While the bears ultimately claimed victory, it was a modest one, as the index dropped just 12.7 points, or 0.08%, to close at 15,294.50. Nine of the index's 30 members moved higher, with Hewlett-Packard (NYSE:HPQ) rocketing up 17% after its well-received earnings report. At the back of the pack, pacing the 21 decliners, was Alcoa (NYSE:AA), down 1.7% today.

Wednesday, May 22, 2013
Stocks End Tumultuous Day in the Red After Fed Minutes Halt Rally

At its highest point today, the Dow Jones Industrial Average (DJI) was up nearly 155 points to peg a new all-time apex of 15,542.40. At its intraday nadir, the index was off almost 122 points, at 15,265.96. When the dust settled, the Dow was down 80.4 points, or 0.5%, at 15,307.17, maintaining its grip above its 10-day moving average. Just seven Dow stocks managed to end the day higher, with Pfizer (NYSE:PFE) leading the charge, up 1.8%. Pacing the lagging majority was Cisco Systems (NASDAQ:CSCO), which dropped 2.8% on the day.

Tuesday, May 21, 2013
Fed Remarks Boost Stocks to Another Tuesday Win

The Dow Jones Industrial Average (DJI) turned into negative territory this morning, putting its streak of 18 winning Tuesdays in jeopardy, but the blue-chip index turned higher in late-morning trading, notching a 19th consecutive Tuesday win, up 52.3 points, or 0.3%, at 15,387.58. In other record news, the Dow hit yet another new all-time high of 15,434.50 during the session. Eighteen of the 30 Dow components moved higher today, led by Merck (NYSE:MRK), which rallied 4.7%. Alcoa (NYSE:AA) was unchanged today, and Travelers Companies (NYSE:TRV) brought up the rear, losing 2.2%.

Monday, May 20, 2013
Stocks Little Changed as Slow News Day Draws the Focus to the Fed

The Dow Jones Industrial Average (DJI) traded as high as 15,391.84 (a new all-time peak) and as low as 15,314.15, ultimately settling off 19.1 points, or 0.1%, at 15,335.28. Eleven Dow members ended higher, led by Alcoa (NYSE:AA), which gained 1.7%. McDonald's (NYSE:MCD) was unchanged on the day, and the 18 laggards were paced by Merck (NYSE:MRK), which lost 1.7%.

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Options Flow Recap

Most Active Option Strikes - Stocks

Symbol	Today's Volume	Expiration	Strike	Put Call	% on Bid Price	% on Ask Price
PFE	63561	7/20/13	35	C	0.5%	1.7%
PFE	62451	7/20/13	35	P	1.0%	0.0%
SIRI	57480	6/22/13	3.5	P	1.4%	23.2%
YHOO	54825	1/18/14	30	C	2.0%	3.8%
ZTS	44873	7/20/13	40	C	0.0%	0.0%
AAPL	44867	5/24/13	450	C	38.2%	36.5%
ZTS	44831	7/20/13	40	P	1.2%	0.0%
AAPL	35820	5/24/13	440	P	36.1%	41.6%
AAPL	35689	5/24/13	445	C	37.3%	37.5%
MNKD	32810	1/18/14	9	C	6.4%	0.7%

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