S&P Snaps Losing Streak; Dow Jones Industrial Average Dodges Apple Blues

Is Macy's About to Make a Major Move?

Nov 10, 2015 at 4:26 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) spent most of the session modestly lower, amid lingering expectations for a year-end rate hike, and as Apple Inc. (NASDAQ:AAPL) reeled on lackluster iPhone projections. In addition, traders weighed a bigger-than-expected drop in U.S. import prices, a surprise jump in wholesale inventories, and long-term oil estimates from the International Energy Agency (IEA). While the broader tech woes dragged the Nasdaq Composite (COMP) lower, the blue-chip index muscled higher by the close, and the S&P 500 Index (SPX) snapped its four-session losing streak.

Continue reading for more on today's market, including

The Dow Jones Industrial Average (DJIA - 17,758.21) was down nearly 73 points at its session low, but staged an afternoon rebound to end 27.7 points, or 0.2%, higher. Twenty of the Dow's 30 components ended in the black, led by Visa Inc's (NYSE:V) 2% gain. AAPL paced the 10 decliners, dropping 3.2%.

The S&P 500 Index (SPX - 2,081.72) muscled higher for the first session in five, tacking on 3.1 points, or 0.2%. The tech-heavy Nasdaq Composite (COMP - 5,083.24) spent the entire day in the red, surrendering 12.1 points, or 0.2%. 

The CBOE Volatility Index (VIX - 15.29) ticked higher in early action, but blazed a steady trail lower in the final half of the day, giving up 1.2 points or 7.5%, when all was said and done.



5 Items on Our Radar Today:

  1. The Labor Department reported that U.S. import prices dropped 0.5% in October, compared to an expected 0.1% loss, weighed down by dropping oil prices and strength in the dollar. Meanwhile, wholesale inventories saw the largest increase since June, surprising economists by rising 0.5% in September, according to the Commerce Department. (Reuters, via CNBC)
  2. Fast-food workers took to the streets in many cities to protest wages they consider too low to live on. The "Fight for $15" represents those who have been campaigning for a minimum-wage increase since 2012, and is gaining more traction across the country. Still, neither that -- nor a big announcement -- could stop this blue chip from hitting an all-time high.  (USA Today)
  3. Calithera Biosciences Inc (NASDAQ:CALA) took another knock today, as traders reacted to earnings.
  4. This trio of Apple suppliers retreated, attracting short-term option bears.
  5. It was another day in the spotlight for Valeant Pharmaceuticals Intl Inc (NYSE:VRX), as the company held a second conference call with investors.





December crude oil broke its four-day losing streak, gaining 34 cents, or 0.8%, to settle at $44.21 a barrel, following the IEA's energy outlook. The American Petroleum Institute is set to release data on crude inventories after the market closes, while a Veterans Day-delayed report from the Energy Information Administration is expected on Thursday.

Despite the dollar at a seven-month high, December gold futures eked out a small gain, closing at $1,088.50 an ounce – an increase of 40 cents, or 0.03 %. 


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners