BUY, SELL, HOLD (2)

Dow Jones Industrial Average Slips on Oil, Earnings

The Next EpiPen? How Bernie Sanders Sank This Biotech

Oct 20, 2016 at 4:22 PM
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The Dow Jones Industrial Average (DJIA) spanned both sides of breakeven today, fluctuating nearly 120 points as traders reacted to a mixed bag of blue-chip earnings. While American Express Company (NYSE:AXP) soared after its report, fellow Dow stocks Travelers Companies Inc (NYSE:TRV) and Verizon Communications Inc. (NYSE:VZ) weren't so lucky. Today's mixed economic data further complicated matters, as jobless claims rose by more than expected, existing home sales improved last month, and the Philadelphia Fed business outlook survey fell less than expected. However, the bears ultimately prevailed, as crude oil losses weighed on stocks, pressured by a stronger dollar in the wake of the European Central Bank (ECB) decision to leave interest rates unchanged.

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

The Dow Jones Industrial Average (DJIA - 18,162.35) slipped 40.3 points, or 0.2%, for the day. AXP led the 10 Dow winners, with a whopping 9% post-earnings gain, while TRV lost the most of the 19 Dow losers, slipping 5.8%. Goldman Sachs Group Inc (NYSE:GS) finished flat.

The S&P 500 Index (SPX - 2,141.34) dropped 3 points, or 0.1%, as the Nasdaq Composite (COMP - 5,241.83) followed, sinking 4.6 points, or 0.1%.

The CBOE Volatility Index (VIX - 13.75) fell 0.7 point, or 4.6%.

Closing Indexes Summary October 20
NYSE and Nasdaq Stats October 20

5 Items on Our Radar Today

  1. Wal-Mart Stores, Inc. (NYSE:WMT) has announced it will be bringing an online version of Sam's Club, WMT's bulk goods retailing arm, to Chinese e-tailer JD.Com Inc (ADR) (NASDAQ:JD). (Reuters)
  2. Starbucks Corporation (NASDAQ:SBUX) isn't just looking to capture the market overseas. The coffee chain is hoping to capture more of the domestic market by targeting coffee elitists by expanding its upscale Reserve store locations. (Eater)
  3. One trader betting big on Groupon Inc (NASDAQ:GRPN) to notch a new annual high.
  4. United States Steel Corporation (NYSE:X) got a lift from a sector peer's earnings win.
  5. Why Kinder Morgan Inc (NYSE:KMI) is still rising after an unexpected earnings whiff.

Corporate earnings October 20
Unusual Options Activity October 20
Data courtesy of Trade-Alert

Commodities:

November-dated crude futures fell $1.17, or 2.3%, to finish the day at $50.43 per barrel, giving back most of yesterday's gains, as a stronger dollar encouraged investors to take their profits from Wednesday's rally.

December-dated gold futures slipped $2.40, or 0.2%, to $1,267.50 anounce, as the dollar touched seven-month highs, and after the European Central Bank (ECB) announced it would be leaving interest rates unchanged.

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