Dow Jones Industrial Average, Nasdaq Nosedive

Dow, Nasdaq Nosedive; 2 Oil Stocks Bucking the Trend

May 5, 2015 at 4:31 PM
facebook twitter linkedin


sell-off in China got the bearish ball rolling for the Dow Jones Industrial Average (DJIA), and trade data -- as well as the expected impact on first-quarter gross domestic product (GDP) -- exacerbated selling pressure. In addition, speculators eyed crude oil's surge, as well as reports that the International Monetary Fund could cut the purse strings for Greece.

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

 

 

The Dow Jones Industrial Average (DJIA - 17,928.20) steepened its slide throughout the session, settling 142.2 points, or 0.8%, lower to give back the 18,000 level. Visa Inc (NYSE:V) was the only Dow component in positive territory at the close, adding 0.6%. Apple Inc. (NASDAQ:AAPL) was the biggest loser, giving back 2.3%, while McDonald's Corporation (NYSE:MCD) finished flat.  

 

The S&P 500 Index (SPX - 2,089.46) was hit hard, as well. The index surrendered 25 points, or 1.2%, leaving behind the all-important 2,100 level. The Nasdaq Composite (COMP - 4,939.33) was even worse off, falling below 5,000 with a 77.6-point, or 1.6%, loss. 

 

The CBOE Volatility Index (VIX - 14.31) surged higher, adding 1.5 points, or 11.4%, to take out its 20-day moving average. 

 

150505recap1

 

150505recap2

 

5 Items on Our Radar Today:

 

  1. U.S. imports skyrocketed in March, bringing the country's trade deficit to its highest point in over six years. Economists are now saying this could mean a contraction in first-quarter GDP. (Reuters)
  2. Panera Bread Co (NASDAQ:PNRA) plans to reconsider over 150 ingredients  in an effort to offer healthier foods. The move comes only a few days after sector peer Chipotle Mexican Grill, Inc. (NYSE:CMG) announced it would no longer use genetically modified (GMO) ingredients.
  3. Is BlackBerry Ltd (NASDAQ:BBRY) due for a short-term bounce?
  4. 3 of the biggest movers on the day
  5. Estee Lauder Companies Inc's (NYSE:EL) blowout quarter took it to new heights today.

 

150505recapearnings

 

150505recap6

 

150505recap7

 

Commodities:

 

Crude oil shot higher today, as protests in Libya raised questions about supply. At the close, June-dated crude was up $1.47, or 2.5%, at $60.40 per barrel -- black gold's highest perch in nearly five months.

Gold futures moved higher as well, thanks to a cooling dollar and demand for "safe haven" investments. Gold for June delivery closed $6.40, or 0.5%, higher at $1,193.30 per ounce. 

 

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1