Dow Jones Industrial Average Notches Second Straight Triple-Digit Gain

6 Stocks to Watch in August

by Karee Venema

Published on Jul 29, 2015 at 4:27 PM

Despite a momentary slip into the red at the open following a round of disappointing earnings, the Dow Jones Industrial Average (DJIA) spent the entire session in the green. Although the index pared a portion of these gains as Wall Street digested the latest policy statement from the Fed -- which left the door open for a possible September rate hike -- buyers stepped in during the final stretch to push the DJI to a second consecutive triple-digit gain. Tomorrow, the case for an impending rate hike could be further strengthened with the advance reading on second-quarter gross domestic product (GDP) due. Additionally, social media stocks will continue to demand attention, with earnings from Facebook Inc (NASDAQ:FB) and LinkedIn Corp (NYSE:LNKD) in focus.

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



It was a fifth straight triple-digit day for the Dow Jones Industrial Average (DJIA - 17,751.39), with the 30-stock index tracking a nearly 148-point range -- and settling with a 121.1-point, or 0.7%, gain. Microsoft Corporation (NASDAQ:MSFT) led the 26 advancers with its 2.1% pop, following the launch of Windows 10. DuPont (NYSE:DD), meanwhile, paced the three decliners with its 0.8% loss. UnitedHealth Group Inc (NYSE:UNH) was unchanged.

The S&P 500 Index (SPX - 2,108.57) added 15.3 points, or 0.7%, and closed back above the 2,100 mark for the first time since last Thursday. Elsewhere, the Nasdaq Composite (COMP - 5,111.73) tacked on 22.5 points, or 0.4%.


The CBOE Volatility Index (VIX - 12.50) shed 0.9 point, or 7%, to close at its lowest level in a week.





5 Items on Our Radar Today:


  1. In its latest monetary policy update, the Federal Open Market Committee (FOMC) voted unanimously to leave interest rates unchanged. However, the central bank said the economy was "expanding moderately" following a first-quarter slowdown, and the "underutilization of labor resources has diminished since early this year" -- although it is still looking for "further improvement in the labor market." (Reuters via Schaeffer's Investment Research)
  2. David Taylor -- current president of PG's global beauty, grooming and healthcare division -- will replace A.G. Lafley as CEO, effective Nov. 1. Lafley will remain chairman of the board. (USA Today)
  3. TWTR hit an annual low of $31.06 in intraday action, after discouraging comments from the company's CEO -- and a round of downbeat analyst attention -- pressured the shares.
  4. Schaeffer's contributor Adam Warner offered up a quick lesson in how to play China with options.
  5. A disappointing turn in the earnings confessional sent Yelp Inc (NYSE:YELP) tumbling to levels not seen in more than two years.








Crude oil popped today -- notching its second-biggest daily percentage gain of the month -- following a bigger-than-expected drop in inventories. At session's end, crude for September delivery was up 81 cents, or 1.7%, at $48.79 per barrel.


Uncertainty surrounding the Fed's next rate hike sent the dollar higher -- and gold lower today. By the close, August-dated gold was off $3.60, or 0.3%, at $1,092.60 per ounce. After the Fed statement, however, gold turned higher in electronic trading.

A Schaeffer's exclusive

6 Sectors for Summer

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



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Research Exposes Shortcut to Stock Market Wins
A simple way to stop picking losers, and start cashing in like Wall Street's elite.
Google Postpones Android Reveal, "Now is Not the Time to Celebrate"
"Now is not the time to celebrate," Google said in a message on its website
ZNGA Zooms to 8-Year High on Billion-Dollar Deal
ZNGA is planning to buy Peak for $1.8 billion
Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....