229-Point Win for Dow Jones Industrial Average

Dow Notches 229-Point Win; Plus, Is Google Flashing a 'Buy'?

Sep 15, 2015 at 4:26 PM
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The Dow Jones Industrial Average (DJIA) took off at the open and never looked back, eventually settling with a sizable triple-digit lead -- and out of correction territory. While yesterday's price action was driven by pre-Fed jitters, today's activity may have been buoyed by energy, bargain hunters, and traders hoping today's lukewarm updates on the economy could stall a rate hike. The market could just be revving its engine, though, with a highly anticipated Fed decision and a quadruple witching still on tap.

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


The Dow Jones Industrial Average (DJIA - 16,599.85) spent the entire session in the green, eventually settling with a 229-point, or 1.4%, pop. The blue-chip index climbed out of correction territory, toppling both its 10- and 20-day moving averages for the first time since July 21. All but one of the Dow's 30 components gained ground, led by Caterpillar Inc.'s (NYSE:CAT) 2.5% jump. Walt Disney Co (NYSE:DIS) was the lone laggard, shedding 0.4%.

The S&P 500 Index (SPX - 1,978.09) added 25.1 points, or 1.3%, and moved back into the black on a month-to-date basis. Meanwhile, the Nasdaq Composite (COMP - 4,860.52) tacked on 54.8 points, or 1.1%.

The CBOE Volatility Index (VIX - 22.54) gave back 1.7 points, or 7.1%, to close at its lowest level since Aug. 20 -- and back beneath the key 23.90 level.




5 Items on Our Radar Today:


  1. Retail sales rose 0.2% August -- and July's data was upwardly revised -- slightly below estimates. Elsewhere on the economic front, factory activity in the New York area remained near six-year lows in September, industrial production posted its biggest decline since January 2014, and business inventories edged 0.1% higher in August. (CNBC; MarketWatch; USA Today)
  2. Fiat Chrysler Automobiles NV (NYSE:FCAU) and the United Auto Workers (UAW) have yet to reach a bargaining agreement, after the contract between the two organizations expired at midnight. However, both parties agreed to extend the previous terms on an hour-by-hour basis until a new four-year agreement can be reached. (ABC News)
  3. Don't put a lid on earnings season just yet! These 2 notable names are headed to the confessional tomorrow.
  4. The brokerage bunch took decidedly different paths on this pair of oil-and-gas issues.
  5. How Yum! Brands, Inc. (NYSE:YUM), Starbucks Corporation (NASDAQ:SBUX), and McDonald's Corporation (NYSE:MCD) are attempting to bring customers back to the table.





Crude oil was on the mend today, after President Barack Obama said his administration does not support the House of Representatives' attempt to repeal a 40-year ban on crude exports. Additionally, a preliminary estimate suggested domestic supplies at the Cushing, Oklahoma, hub declined last week. By the close, crude for October delivery was up 59 cents, or 1.3%, at $44.59 per barrel.


Gold, meanwhile, pulled back ahead of the Fed's two-day meeting, with the December-dated contract settling down $5.10, or 0.5%, at $1,102.60 per ounce.


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