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Crude posted its worst session since late November
The Dow Jones Industrial Average (INDEXDJX:DJI) closed slightly higher today, despite a rout in oil prices -- which suffered their biggest single-day percentage drop since Nov. 28. While several blue-chip energy stocks suffered, the index got a lift from Walt Disney Co's (NYSE:DIS) blowout earnings report. On the economic front, data out of the services sector was promising, but private job growth fell short of the Street's expectations. Looking ahead, a number of Tech 2.0 names will report earnings tomorrow night, including Twitter Inc (NYSE:TWTR) and LinkedIn Corporation (NYSE:LNKD).
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 17,673.02) spent much of the session edging higher -- and peaked at a nearly 116-point advance -- but a late-session sell-off left the index with a slim 6.6-point advantage. Thirteen of the Dow's 30 components settled above the flatline, with DIS leading the way, up 7.2 points, or 7.6%. Merck & Co., Inc. (NYSE:MRK) paced the 17 losers, shedding 2 points, or 3.2%.
The S&P 500 Index (SPX - 2,041.51) lost 8.5 points, or 0.4%. Also, the tech-heavy Nasdaq Composite (COMP - 4,716.70) gave back 11 points, or 0.2%.
The CBOE Volatility Index (VIX - 18.33) popped as the SPX struggled, tacking on 1 point, or 5.8%.
5 Items on Our Radar Today:
- The Institute for Supply Management's (ISM) non-manufacturing index rose to a better-than-expected 56.7 last month. However, the ISM employment index dropped sharply, to 51.6 in January from 55.7 in December. (CNBC)
- The private sector created 213,000 jobs last month -- less than the 225,000 new positions anticipated by economists -- according to ADP's National Employment Report. Meanwhile, December payrolls were upwardly revised by 12,000 to 253,000. (CNBC)
- How options traders are reacting to AAPL's new high.
- This Dow component surged to a record high on a positive post-earnings reaction.
- On the flip side, Gilead Sciences, Inc. (NASDAQ:GILD) plummeted due to a shoddy 2015 revenue forecast and a round of price-target cuts.
For a look at today's options movers and commodities activity, head to page 2.
Commodities:
Crude reversed lower after settling at a 2015 high yesterday, following news of record stockpiles from the U.S. Energy Information Administration (EIA). At the close, the March-dated contract had plunged $4.60, or 8.7%, to land at $48.45 per barrel -- its largest single-day percentage drop since late November, and first negative session in the last five.
Gold ended slightly higher after China's central bank decided to cut the reserve-requirement ratio for mainland banks. Specifically, April-dated gold gained $4.20, or 0.3%, to finish at $1,264.50 per ounce.