S&P Logs Best Week of 2015; Dow Jones Industrial Average Makes It 6 Straight

S&P's Best Week of '15; Plus, 2 Ways to Protect Your Portfolio

Oct 9, 2015 at 4:27 PM
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Fed-fueled optimism helped the Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) enjoy modest leads for most of the day. The upside momentum came despite a disappointing start to earnings season -- which could spell trouble for the broader market down the road --- and relatively hawkish tones from a pair of central bank officials. By the close, the Dow had notched its sixth straight daily win, while the SPX logged its biggest weekly advance of the year. Looking ahead, earnings season gets underway next week, with a number of big names slated to report

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

The Dow Jones Industrial Average (DJIA - 17,084.49) tracked a roughly 84-point range today, eventually settling with a 33.7-point, or 0.2%, win. Seventeen of the Dow's 30 components closed higher, let by UnitedHealth Group Inc's (NYSE:UNH) 2.8% pop. Intel Corporation (NASDAQ:INTC) paced the 12 decliners with its 1.2% loss, while Cisco Systems, Inc. (NASDAQ:CSCO) was flat. Week-over-week, the DJIA jumped 3.7%.
The S&P 500 Index (SPX - 2,014.89) extended its lead atop the round 2,000 mark, adding 1.5 points, or 0.1%. The Nasdaq Composite (COMP - 4,830.47), meanwhile, bested its peers by tacking on 19.7 points, or 0.4%. On a weekly basis, the SPX and COMP rose a respective 3.3% and 2.6%.

The CBOE Volatility Index (VIX - 17.08) shed 0.3 point, or 2%, to close at its lowest mark since Aug. 19. For the week, the market's "fear gauge" surrendered 18.4%.



5 Items on Our Radar Today:

  1. House Republicans are reportedly courting Paul Ryan, R-Wisc., to replace John Boehner, R-Ohio, as House speaker. Boehner announced his retirement two weeks ago, and front-runner Kevin McCarthy, R-Calif., removed his name from consideration yesterday. (Bloomberg)
  2. Dow Jones & Co -- a division of News Corp (NASDAQ:NWSA) -- announced it has been hacked. The breach reportedly occurred between August 2012 and July 2015, and affected up to 3,500 individuals. (Reuters)
  3. The battle is on between FB and the century mark, and October options could play a major role.
  4. A raft of financial firms will report earnings next week, but traders don't appear to be too optimistic ahead of the results.
  5. Schaeffer's contributor Adam Warner explains why caution should be used when throwing around the term "bubble."





Crude oil eked out a gain on news that active oil rigs declined for a sixth straight week. By the close, crude for November delivery was up 20 cents, or 0.4%, at $49.63 per barrel -- its highest close since July 21. On the week, meanwhile, black gold jumped 9%.

The Fed's meeting minutes and a weaker dollar helped send December-dated gold up $11.60, or 1%, to $1,155.90 per ounce -- its loftiest perch since Aug. 21. Week-over-week, the malleable metal added 1.7%.



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