Second-Best Week in Almost 2 Years for Dow Jones Industrial Average

President Barack Obama called Sony Corp's (ADR) decision to pull 'The Interview' a 'mistake'

by Alex Eppstein

Published on Dec 19, 2014 at 4:26 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (INDEXDJX:DJI) and S&P 500 Index (SPX) posted their third straight day of gains, as well as their second-best week in almost two years -- still benefiting from Wednesday's accommodative Fed policy statement. What's more, the Dow rebounded from its worst week in three years. Leading the market higher today were energy stocks, with blue chips Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) tacking on 3.6% and 2.7%, respectively. Looking ahead, despite next week's holiday-shortened calendar, there will plenty of economic data to digest, including the latest durable goods orders and the final reading on third-quarter gross domestic product (GDP).

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

The Dow Jones Industrial Average (DJI - 17,804.80) spent almost the entire day in the green, and by the close, was up 26.7 points, or 0.2%, for its third straight daily victory. In fact, the blue-chip index had its second-best week in nearly two years, advancing 3%. Eighteen of 30 Dow components ended higher, led by a 3.6% gain at CVX. On the flip side, Nike Inc (NYSE:NKE) paced the 12 losers, giving back 2.3%.

The S&P 500 Index (SPX - 2,070.65) advanced 9.4 points, or 0.5%, helping the broader index to its second-best week in close to two years. The Nasdaq Composite (COMP - 4,765.38) popped roughly 17 points, or 0.4%. For the week, the SPX and COMP gained 3.4% and 2.4%, respectively.

The CBOE Volatility Index (VIX - 16.49) ended 0.3 point, or 1.9%, lower on the day, and was down 21.8% for the week.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. President Barack Obama spoke earlier this afternoon on SNE's decision not to release the controversial film "The Interview," following North Korea's cyberattack. The commander in chief called the decision a "mistake," while promising the U.S. will respond to the act of cyber terrorism. (CNBC)
  2. JUNO soared in its public debut, tacking on 45.8%. What's more, the opening price of $39 valued the company at more than $3 billion, making JUNO the largest biotech initial public offering (IPO) in more than a decade. (MarketWatch)
  3. This toymaking duo felt the pain after one brokerage firm predicted a slump in holiday sales.
  4. How much can one market pundit's opinion impact a stock? In the case of ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS), a lot.
  5. Option bears are circling these two solar stocks, amid a recent policy-induced plunge.
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:

February-dated crude -- the most active contract -- benefited from pre-expiration short-covering activity to end $2.77, or 5.1%, higher, at $57.13 per barrel. Comparing most-active contracts, oil retreated 1.2% on the week.

Gold edged slightly higher, but failed to topple the $1,200 level amid a strengthening dollar and a risk-on attitude among traders. By the close, the February-dated contract had tacked on $1.20, or 0.1%, to settle at $1,196 per ounce. For the week, however, the malleable metal gave back 2.2%.


A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter