Dow Jones Industrial Average Cruises to Mega-Win

Dow Snaps Losing Streak on Greece Buzz; Oil Hits 2015 High

Josh Selway

Jun 10, 2015 at 4:26 PM

Wall Street got a breath of fresh air today, as the Dow Jones Industrial Average (DJIA) ended its losing streak in dramatic fashion. The blue-chip index exploded for a triple-digit win -- and took back 18,000, albeit barely -- mainly thanks to promising developments from overseas and a rally in tech, financial, and energy stocks. In fact, all 30 Dow components finished with gains. Looking ahead, tomorrow is a big day, with several economic reports on tap.

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

Why these drugmakers got smacked today.
Conversely, solar stocks took off, though this traditional energy name sat out the rally.
A sudden CEO resignation sent heavily shorted Boulder Brands Inc (NASDAQ:BDBD) to new lows.
Plus ... L.A. bumps its wages, the deficit for May, and why bears descended upon GPRO.

The Dow Jones Industrial Average (DJIA - 18,000.40) surged higher, retaking 18,000 with a huge 236.4-point, or 1.3%, win. In fact, it was the best day for the Dow in a month, as all 30 of the index's components ended in the black. Visa Inc (NYSE:V) added the most, with a 2.5% lead, while Microsoft Corporation (NASDAQ:MSFT) and
Caterpillar Inc. (NYSE:CAT) weren't far behind, adding 2.1% and 2%, respectively.

The S&P 500 Index (SPX - 2,105.20) also enjoyed its best session since early May, picking up 25.1 points, or 1.2%. The Nasdaq Composite (COMP - 5,076.69) followed suit, adding 62.8 points, or 1.3%.

The CBOE Volatility Index (VIX - 13.22) took a dive, losing 1 point, or 6.9%, to fall below 14, and settled south of its 10-day moving average for the first time since May 22.

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5 Items on Our Radar Today:

Los Angeles is the latest major U.S. city to increase its minimum wage, setting the mark at $15 an hour. The change will be gradual, though, with the $15 level not being hit until 2020. (CNBC)
The Treasury Department announced an $82.4 billion deficit for the U.S. budget in May. The figure marks a 37% decrease from the same time a year ago. (Reuters)
It was a volatile day for this stock that has more than doubled in 2015.
All of a sudden, GoPro Inc (NASDAQ:GPRO) bears want to play.
In case you missed it, our Indicator of the Week examined the Dow Theory.

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Commodities:

Crude oil extended yesterday's gains, finishing at a 2015 high, thanks to a sixth straight weekly drop in domestic supplies. For July, crude added $1.29, or 2.1%, to close at $61.43 per barrel.

Gold edged higher on the back of a cooling dollar, closing at its highest point in over a week. Gold dated for August settled $9, or 0.8%, higher at $1,186.60 per ounce.

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