Dow Jones Industrial Average, S&P Snap Winning Streaks

Box Inc (BOX) soared in its public debut

Jan 23, 2015 at 4:21 PM
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The Dow Jones Industrial Average (INDEXDJX:DJI) and S&P 500 Index (SPX) snapped their four-session winning streaks today, amid a round of disappointing economic data and an ongoing sell-off in crude. Specifically, existing home sales for December and the flash reading for Markit's manufacturing purchasing managers index both underwhelmed the Street -- as did United Parcel Service, Inc.'s (NYSE:UPS) fourth-quarter guidance. On the earnings front, General Electric Company (NYSE:GE) beat estimates, while fellow Dow component McDonald's Corporation (NYSE:MCD) missed.

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

The Dow Jones Industrial Average (DJI - 17,672.60) ended near a session low, down 141.4 points, or 0.8%. Twenty-four of the Dow's 30 components fell, paced by a 2.1% drop at Exxon Mobil Corporation (NYSE:XOM). Meanwhile, GE led a group of six advancers, gaining 0.8%. For the week, the blue-chip index added 0.9%, halting a four-week losing streak.

The S&P 500 Index (SPX - 2,051.82) shed 11.3 points, or 0.6%, but still jumped 1.6% week-over-week. The Nasdaq Composite (COMP - 4,757.88) bucked the bearish trend, closing with a 7.5-point, or 0.2%, lead. On a weekly basis, the COMP popped 2.7%. The weekly gains mark the first in five for both the SPX and COMP.

The CBOE Volatility Index (VIX - 16.66) muscled 0.3 point, or 1.6%, higher -- but still lost 20.5% week-over-week.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. The Conference Board's index of leading economic indicators rose for a fourth consecutive month in December. Specifically, the index picked up a slightly better-than-expected 0.5% last month, helped by an improving job market and falling gas prices. (Bloomberg)
  2. Enterprise cloud company Box Inc (NYSE:BOX) soared more than 65% in its public debut today. The firm already has roughly 44,000 paying customers -- though it has yet to turn a profit. (CNBC)
  3. Why TWTR was worth following over the past few days.
  4. Options traders responded to the latest Ebola vaccine news on this pharmaceutical firm.
  5. The Dow component that blew past expectations in the earnings confessional.
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 dropped following the death of Saudi Arabia's King Abdullah, which created uncertainty about the future of the nation's oil output. Also weighing on liquid gold was a buildup in stockpiles at an Oklahoma storage hub, and a partial shutdown at an Indiana refinery. By the close, oil for March delivery was down 72 cents, or 1.6%, at $45.59 -- its lowest settlement in nearly six years. On a week-over-week basis, crude gave back 6.4%.

Gold fell back below the $1,300 level, pressured by a strengthening dollar. The February-dated contract lost $8.10, or 0.6%, to settle at $1,292.60. For the week, however, the malleable metal gained 1.2% -- for a third straight weekly win.

 

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