Q2 STOCKS TO BUY

Dow Jones Industrial Average Cools Off; Oil, Chatty Fed in Focus

What This Rare VIX Signal Says About Stocks

Aug 28, 2015 at 4:26 PM
facebook X logo linkedin


After notching back-to-back triple-digit gains, the Dow Jones Industrial Average (DJIA) cooled off a bit today -- but maintained a weekly victory -- as traders considered rising oil, economic data, and a very verbal Fed. Among the notables, Fed Vice Chair Stanley Fischer said the case for a September rate hike was "pretty strong" before China devalued the yuan, and -- despite recent comments from New York Fed President William Dudley -- it's too early to tell if the timing is now "less compelling." Next week (when we turn the calendar to September!) should fuel even more Fed speculation, with a handful of highly anticipated Fed speeches and economic reports on tap.   

 

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

The Dow Jones Industrial Average (DJIA - 16,643.01) spent most of the session in the red -- and was down triple digits at one point -- before settling 11.8 points, or 0.1%, lower. The Dow 30 finally moved out of unison, with 17 components ending lower, paced by Pfizer Inc.'s (NYSE:PFE) 1.8% dip. Oil issue Chevron Corporation (NYSE:CVX) once again led the gainers with a 3.6% jump. For the week, the Dow added 1.1%.

The S&P 500 Index (SPX - 1,988.87) also spent the majority of the day lower, but eked out a win of 1.2 points, or 0.1%, by the close. The Nasdaq Composite (COMP - 4,828.32) hands-down outperformed its peers, gaining 15.6 points, or 0.3%. For the week, the SPX notched a 0.9% gain, while the COMP tacked on 2.6% -- marking its biggest Monday-to-Friday gain on record. 

The CBOE Volatility Index (VIX - 26.05) extended its losing streak to four -- albeit barely -- edging down 0.05 point, or 0.2%. For the week, the "fear gauge" surrendered 7.1%.

 

150828Recap1

 

150828Recap2

 

5 Items on Our Radar Today:

 

  1. Minneapolis Fed President Narayana Kocherlakota weighed in on this morning's batch of data, saying inflation "remains very low" and that it'll take time to reach the central bank's 2% target. Meanwhile, Atlanta Fed President Dennis Lockhart said recent volatility presents a "new" risk, and lowered the odds of a September hike to 50-50(MarketWatch)
  2. Apple Inc. (NASDAQ:AAPL) will reportedly unveil its next generation of iPhones at its Sept. 9 event. The smartphones' camera megapixel count will be upgraded for the first time since the iPhone 4S launch four years ago, according to inside sources.  (9to5mac)
  3. Speaking of AAPL, competition concerns might be fueling bearish speculation on Fitbit Inc (NYSE:FIT).
  4. What prompted a rush to Micron Technology, Inc.'s (NASDAQ:MU) options?
  5. This retailer just confessed to its 11th straight quarterly loss.

 

150828Recap3

 

150828Recap4

 

150828Recap5


 

Commodities:

 

A session after notching its biggest daily gain since 2009, crude continued its upward momentum today, wrapping up its best week in six years. The October contract was up $2.66, or 6.3%, to settle at $45.22 per barrel. For the week, black gold added 11.8%.

 

Gold snapped its four-session losing streak, with December futures advancing $11.40, or 1%, to end at $1,134 an ounce. For the week, though, the yellow metal lost 2.2% -- its biggest weekly decline in over a month.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter