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Dow Jones Industrial Average Edges Higher; S&P 500 Notches Record Close

Traders struck different postures toward Apple Inc. amid iPad rumblings

by 8/27/2014 4:32:00 PM
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The Dow Jones Industrial Average (DJI) spent time on both sides of breakeven today during a low-volume session, as investors took a breather following Tuesday's record high. By the close, the Dow was slightly higher -- maintaining its foothold atop the 17,100 level -- while the S&P 500 Index (SPX) hit a record closing high, and finished north of 2,000 for a second consecutive day. Elsewhere, a lack of economic reports had speculators turning their attention to earnings numbers from Tiffany & Co. (NYSE:TIF) and Smith & Wesson Holding Corp (NASDAQ:SWHC), among others.

Continue reading for more on today's market, including:

Trading Topic of the Week -- Tips to Trade Like the Pros: Act like it's your job. Don't expect to score big profits by dabbling. It's important to stay engaged with the market on a daily basis.

The Dow Jones Industrial Average (DJI - 17,122.01) tacked on 15.3 points, or 0.1%, to finish above the 17,100 level for the second consecutive session. Seventeen Dow components ended in the green, led by UnitedHealth Group Inc.'s (NYSE:UNH) 1.5% advance. Meanwhile, The Coca-Cola Company (NYSE:KO) finished flat, while United Technologies Corporation (NYSE:UTX) and 3M Co (NYSE:MMM) paced the decliners with 0.5% losses.

The S&P 500 Index (SPX - 2,000.12) ended up 0.1 point -- at its highest close on record -- despite spending much of the day in the red. Although it tagged a fresh 14-year peak of 4,575.81 right out of the gate, the Nasdaq Composite (COMP - 4,569.62) closed with a loss of roughly 1 point.

The CBOE Volatility Index (VIX - 11.78) rebounded with a gain of 0.2 point, or 1.3%, but for the sixth straight session failed to topple the 12 mark.



5 Items on Our Radar Today:

  1. Argentina is bracing for its second national strike within the last five months tomorrow, due to a government default last month and growing discontent over inflation, low wages, and layoffs. Among those participating in the work stoppage are train and truck drivers, port workers, and waiters. (Bloomberg)
  2. San Francisco-based startup Uber plans to extend its car service to additional German cities, even though it's facing bans in Berlin and Hamburg. The company, which allows users to request transportation via a smartphone app, cited "huge demand" as its rationale for expanding amid the opposition. (FOX Business)
  3. What do options trading and fantasy football have in common? More than you might think.
  4. TIF notched a record high following a strong earnings report and a flurry of positive analyst attention.
  5. Breaking down a modestly bullish bet on SWHC.

For a look at today's options movers and commodities activity, head to page 2.

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