Dow Disregards Greece Standstill; COMP, RUT Steal the Show

Tech's Big Record; Plus, Is This Chipmaker Ready to Run?

Jun 18, 2015 at 4:31 PM
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The Dow Jones Industrial Average (DJIA) extended Wednesday's Fed-induced upside, and at its intraday peak, was nearly 240 points higher. Helping to lift the Dow were record-setting rallies for components Nike Inc (NYSE:NKE) and Walt Disney Co (NYSE:DIS). Traders also applauded the latest round of economic reports -- which included updates on employment, inflation, and manufacturing -- and disregarded another unproductive meeting over Greece's debt crisis (and rumors that Greek banks may not open Monday). However, the real story on Wall Street was the action happening on the Nasdaq Composite (COMP) and the Russell 2000 Index (RUT), which each notched all-time highs.


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



The Dow Jones Industrial Average (DJIA - 18,115.84) spent the entire day north of breakeven, closing up 180.1 points, or 1% -- and settling north of 18,000 for the first time in a week. All 30 of the Dow's components gained ground, led by 1.7% jumps for 3M Co (NYSE:MMM), Johnson & Johnson (NYSE:JNJ), and Travelers Companies Inc (NYSE:TRV).


Likewise, the S&P 500 Index (SPX - 2,121.24) jumped at the open, eventually closing 20.8 points, or 1%, higher. The Nasdaq Composite (COMP - 5,132.95), meanwhile, topped out at an all-time intraday peak of 5,143.32, before settling with a 68.1-point, or 1.3%, gain -- and at a record closing high.


The CBOE Volatility Index (VIX - 13.19) gave back 1.3 points, or 9%, and ended south of its 50-day moving average for the first time since last Thursday.




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5 Items on Our Radar Today:


  1. Eurogroup President Donald Tusk called an emergency summit among eurozone leaders for Monday, in hopes of finally hashing out a debt deal for Greece. "It is time to urgently discuss the situation of Greece at the highest political level," said Tusk, after a four-hour meeting of eurozone finance officials failed to make headway today. (Bloomberg)
  2. The House of Representatives today passed President Barack Obama's trade promotion authority bill, allowing the president the authority to fast-track trade agreements to Congress. The bill now goes to the Senate for a vote. (CNBC)
  3. These 3 cybersecurity stocks have been tearing up the charts, and could continue to do so.
  4. The semiconductor concern that continues to get barraged by bearish brokerage notes, and the grocery chain rallying in the wake of a strong earnings report.
  5. What's sending these 3 notable names to new heights?







Crude oil jumped today, thanks to a cooling greenback, bringing the commodity's winning streak to three straight sessions. By the close, crude for July delivery was up 53 cents, or 0.9%, at $60.45 per barrel.


Gold futures also benefited from a weakening dollar, continuing their post-Fed momentum. At session's end, August-dated gold was $25.20, or 2.1%, higher at $1,202 per ounce.



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