Dow Jones Industrial Average, S&P 500 End Another Week Higher; Virgin America Takes Off

The latest retail sales data and consumer sentiment index topped expectations

Nov 14, 2014 at 4:27 PM
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The Dow Jones Industrial Average (DJI) ended the day on a low note, closing with a modest loss and failing to touch any technical milestones. This, despite a number of encouraging economic reports. Meanwhile, the S&P 500 Index and Nasdaq Composite closed today's session higher. On a weekly basis, however, all three indexes managed modest gains to make it four consecutive weekly wins. Elsewhere, Virgin America Inc (NASDAQ:VA) soared in its public trading debut, while on the commodities front, crude and gold each had strong days.

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

The Dow Jones Industrial Average (DJI - 17,634.74) edged higher out of the gate, but settled with an 18.1-point, or 0.1%, loss. Sixteen of the Dow's 30 components ended higher, paced by a 2.5% advance at Cisco Systems, Inc. (NASDAQ:CSCO), while the other 14 gave up ground -- with Johnson & Johnson (NYSE:JNJ) and Visa Inc (NYSE:V) leading the way, down 0.8%. For the week, the DJI tacked on 0.2%.

The S&P 500 Index (SPX - 2,039.82) added a mere 0.49 point today, but rose 0.4% on the week. The Nasdaq Composite (COMP - 4,688.54) gained 8.4 points, or 0.2%, bringing its week-to-date rally to 1.2%.

The CBOE Volatility Index (VIX - 13.31) lost 0.5 point, or 3.5%, but maintained its foothold atop 13 for a third consecutive session. On a weekly basis, the market's "fear gauge" advanced 1.4%.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. Retail sales increased by a slightly wider-than-expected margin last month, rebounding from the disappointing September results that sparked a sell-off in stocks. Sales were especially strong at clothing retailers, furniture stores, and outlets for health and personal care items. (USA Today)
  2. Consumer confidence hit its highest level in more than seven years this month, according to the Thomson Reuters/University of Michigan preliminary sentiment index. The 89.4 reading outstripped even the most ambitious of economist estimates, heightening expectations for a strong holiday shopping season. (Bloomberg)
  3. A look at the big put ratio spread initiated on Herbalife Ltd. (NYSE:HLF).
  4. How these options traders placed winning bets on Akamai Technologies, Inc. (NASDAQ:AKAM), as shares rallied amid a potential partnership with Alibaba Group Holding Ltd (NYSE:BABA).
  5. Why BBRY has chosen to stay out of China ... for now.
EARNINGS

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

STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

Commodities:

Crude futures rallied on hopes the Organization of the Petroleum Exporting Countries (OPEC) will cut production; the cartel will meet later this month to discuss black gold's recent swoon. Specifically, December crude added $1.61, or 2.2%, to settle at $75.82 per barrel -- but still fell 3.6% on the week.

Gold surged to its highest price this month, helped by rising oil prices and a weaker dollar. By the close, the December-dated contract had added $24.10, or 2.1%, to settle at $1,185.60 per ounce. For the week, the malleable metal tacked on 1.4%.

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