Dow Jones Industrial Average Shakes Off Crude Crash

Crude posted its worst session since late November

Feb 4, 2015 at 4:17 PM
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The Dow Jones Industrial Average (INDEXDJX:DJI) closed slightly higher today, despite a rout in oil prices -- which suffered their biggest single-day percentage drop since Nov. 28. While several blue-chip energy stocks suffered, the index got a lift from Walt Disney Co's (NYSE:DIS) blowout earnings report. On the economic front, data out of the services sector was promising, but private job growth fell short of the Street's expectations. Looking ahead, a number of Tech 2.0 names will report earnings tomorrow night, including Twitter Inc (NYSE:TWTR) and LinkedIn Corporation (NYSE:LNKD).

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

The Dow Jones Industrial Average (DJI - 17,673.02) spent much of the session edging higher -- and peaked at a nearly 116-point advance -- but a late-session sell-off left the index with a slim 6.6-point advantage. Thirteen of the Dow's 30 components settled above the flatline, with DIS leading the way, up 7.2 points, or 7.6%. Merck & Co., Inc. (NYSE:MRK) paced the 17 losers, shedding 2 points, or 3.2%.

The S&P 500 Index (SPX - 2,041.51) lost 8.5 points, or 0.4%. Also, the tech-heavy Nasdaq Composite (COMP - 4,716.70) gave back 11 points, or 0.2%.

The CBOE Volatility Index (VIX - 18.33) popped as the SPX struggled, tacking on 1 point, or 5.8%.

CLOSING SUMMARY – INDICES

CLOSING SUMMARY – NYSE AND NASDAQ

5 Items on Our Radar Today:

  1. The Institute for Supply Management's (ISM) non-manufacturing index rose to a better-than-expected 56.7 last month. However, the ISM employment index dropped sharply, to 51.6 in January from 55.7 in December. (CNBC)
  2. The private sector created 213,000 jobs last month -- less than the 225,000 new positions anticipated by economists -- according to ADP's National Employment Report. Meanwhile, December payrolls were upwardly revised by 12,000 to 253,000. (CNBC)
  3. How options traders are reacting to AAPL's new high.
  4. This Dow component surged to a record high on a positive post-earnings reaction.
  5. On the flip side, Gilead Sciences, Inc. (NASDAQ:GILD) plummeted due to a shoddy 2015 revenue forecast and a round of price-target cuts.
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 reversed lower after settling at a 2015 high yesterday, following news of record stockpiles from the U.S. Energy Information Administration (EIA). At the close, the March-dated contract had plunged $4.60, or 8.7%, to land at $48.45 per barrel -- its largest single-day percentage drop since late November, and first negative session in the last five.

Gold ended slightly higher after China's central bank decided to cut the reserve-requirement ratio for mainland banks. Specifically, April-dated gold gained $4.20, or 0.3%, to finish at $1,264.50 per ounce.

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