Real-Time Market Insights
Hot Stock News for Options Traders

S&P Secures Another New High; Dow Jones Industrial Average Dips

Oil futures edged higher after a drop in domestic supplies

by 7/23/2014 4:19:18 PM
Stocks quoted in this article:

Stocks took diverging paths today, with the S&P 500 Index (SPX) notching a new all-time high and the Nasdaq Composite (COMP) rallying in the wake of some solid, high-profile tech earnings. The Dow Jones Industrial Average (DJI), on the other hand, was dragged lower by a poorly received earnings report from The Boeing Company (NYSE:BA) and more expired-meat drama for McDonald's Corporation (NYSE:MCD). In addition, a downwardly revised U.S. economic growth forecast from the International Monetary Fund (IMF) -- not to mention lingering geopolitical concerns -- kept blue-chip buyers on the sidelines, with the Dow settling on a 27-point drop.

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

Trading Topic of the Week -- Tips for Buying Weekly Options: Look for a catalyst. Check the stock's fundamental, technical, and sentiment data to pinpoint possible triggers for a big move.

The Dow Jones Industrial Average (DJI - 17,086.63) gave up 26.9 points, or 0.2%, as 20 of its 30 components ended lower. BA paced the declining equities, shedding 2.3%, while Goldman Sachs Group Inc (NYSE:GS) and Chevron Corporation (NYSE:CVX) led the advancing minority with gains of 1% apiece.

The S&P 500 Index (SPX - 1,987.01) rallied to a record high of 1,989.23 out of the gate, but pared its gain to 3.5 points, or 0.2%, by the close. The Nasdaq Composite (COMP - 4,473.70) once again fared the best of its peers, tacking on 17.7 points, or 0.4%.

The CBOE Volatility Index (VIX - 11.52) shaved 0.7 point, or 5.9%, halting its four-session stretch atop the 12 level. The market's "fear gauge" also ended south of its 20-day moving average for just the second time since July 7.



5 Items on Our Radar Today:

  1. The IMF cut its U.S. economic growth target for 2014 to 1.7% from 2%, which would mark the weakest annual acceleration since the end of the recession. (USA Today)
  2. GM announced the recall of nearly 718,000 more vehicles, bringing its year-to-date total to almost 15 million. The latest recall pertains to a potentially loose bolt in power-adjustable front seats -- linked to two crashes but no fatalities -- as opposed to the defective ignition switches that plagued the last batch. (Reuters)
  3. In geopolitical news, Ukraine accused Russia-backed separatists of shooting down two fighter planes, and the former country's parliament approved a third mobilization of men to serve in the army. Things weren't much better in the Middle East, as continued fighting in Gaza kept U.S. airlines from Tel Aviv for a second day. (USA Today; Reuters)
  4. QUALCOMM, Inc. (NASDAQ:QCOM) option players rolled the dice on a post-earnings rally.
  5. Apple Inc. (NASDAQ:AAPL) option traders, meanwhile, bet on higher highs after earnings.

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

Page 1Page 2

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email:

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by | Data delayed 15-20 minutes unless otherwise indicated.