EARN25

229-Point Win for Dow Jones Industrial Average

Dow Notches 229-Point Win; Plus, Is Google Flashing a 'Buy'?

Sep 15, 2015 at 4:26 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) took off at the open and never looked back, eventually settling with a sizable triple-digit lead -- and out of correction territory. While yesterday's price action was driven by pre-Fed jitters, today's activity may have been buoyed by energy, bargain hunters, and traders hoping today's lukewarm updates on the economy could stall a rate hike. The market could just be revving its engine, though, with a highly anticipated Fed decision and a quadruple witching still on tap.

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

 

The Dow Jones Industrial Average (DJIA - 16,599.85) spent the entire session in the green, eventually settling with a 229-point, or 1.4%, pop. The blue-chip index climbed out of correction territory, toppling both its 10- and 20-day moving averages for the first time since July 21. All but one of the Dow's 30 components gained ground, led by Caterpillar Inc.'s (NYSE:CAT) 2.5% jump. Walt Disney Co (NYSE:DIS) was the lone laggard, shedding 0.4%.

The S&P 500 Index (SPX - 1,978.09) added 25.1 points, or 1.3%, and moved back into the black on a month-to-date basis. Meanwhile, the Nasdaq Composite (COMP - 4,860.52) tacked on 54.8 points, or 1.1%.

The CBOE Volatility Index (VIX - 22.54) gave back 1.7 points, or 7.1%, to close at its lowest level since Aug. 20 -- and back beneath the key 23.90 level.

 

150915recap1

150915recap2



5 Items on Our Radar Today:

 

  1. Retail sales rose 0.2% August -- and July's data was upwardly revised -- slightly below estimates. Elsewhere on the economic front, factory activity in the New York area remained near six-year lows in September, industrial production posted its biggest decline since January 2014, and business inventories edged 0.1% higher in August. (CNBC; MarketWatch; USA Today)
  2. Fiat Chrysler Automobiles NV (NYSE:FCAU) and the United Auto Workers (UAW) have yet to reach a bargaining agreement, after the contract between the two organizations expired at midnight. However, both parties agreed to extend the previous terms on an hour-by-hour basis until a new four-year agreement can be reached. (ABC News)
  3. Don't put a lid on earnings season just yet! These 2 notable names are headed to the confessional tomorrow.
  4. The brokerage bunch took decidedly different paths on this pair of oil-and-gas issues.
  5. How Yum! Brands, Inc. (NYSE:YUM), Starbucks Corporation (NASDAQ:SBUX), and McDonald's Corporation (NYSE:MCD) are attempting to bring customers back to the table.

150915recap4

150915recap5



Commodities:

 

Crude oil was on the mend today, after President Barack Obama said his administration does not support the House of Representatives' attempt to repeal a 40-year ban on crude exports. Additionally, a preliminary estimate suggested domestic supplies at the Cushing, Oklahoma, hub declined last week. By the close, crude for October delivery was up 59 cents, or 1.3%, at $44.59 per barrel.

 

Gold, meanwhile, pulled back ahead of the Fed's two-day meeting, with the December-dated contract settling down $5.10, or 0.5%, at $1,102.60 per ounce.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!