Nike Lifts Dow Jones Industrial Average; S&P Logs Best Week of 2015

3 Turkeys to Avoid Next Week; Plus, Tesla's Shocker

Nov 20, 2015 at 4:32 PM
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Despite losing some steam in afternoon trading, it was a stellar day for the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (COMP). The blue-chip barometer muscled into positive year-to-date territory, thanks to a push from Nike Inc (NYSE:NKE), which flexed some major fundamental muscle. Meanwhile, traders have seemingly grown used to relatively hawkish chatter from Fed officials, and on the back of a healthcare and retail rally, the S&P wrapped up its best week of the year. 

Continue reading for more on today's market, including

The Dow Jones Industrial Average (DJIA - 17,823.81) was up triple digits in early trading, but trimmed its lead to a still-respectable 91.1 points, or 0.5%, by the close. Seventeen of the Dow's 30 components ended higher, led by NKE's 5.5% surge. Energy issue Chevron Corporation (NYSE:CVX) paced the 13 decliners, dropping 2% as oil backpedaled. For the week, the Dow gained 3.4% -- its best week since early October.

The S&P 500 Index (SPX - 2,089.17) tacked on another 7.9 points, or 0.4%, bringing its weekly gain to 3.2% -- the best since December 2014. The tech-rich Nasdaq Composite (COMP - 5,104.92) climbed 31.3 points, or 0.6%, on the day, and 3.6% on the week -- its best five-day stretch since July.

The CBOE Volatility Index (VIX - 15.47) gave up 1.5 points, or 9%, and lost roughly 23% on the week.

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5 Items on Our Radar Today:

  1. CMG tanked to a new annual low, after the Centers for Disease Control and Prevention (CDC) said dozens of people in six states contracted E. coli from Chipotle restaurants. Earlier this month, the burrito chain had to shutter several stores for a West Coast outbreak(MarketWatch)
  2. Walt Disney Co's (NYSE:DIS) highly anticipated "Star Wars" installment is already breaking records. "The Force Awakens" -- set to hit theaters on Friday, Dec. 18 -- has racked up over $50 million in advance ticket sales, marking the biggest pre-release figure in history, according to Fandango. (CNBC)
  3. Meanwhile, option traders are betting on a jolly December for Facebook Inc (NASDAQ:FB).
  4. Are lower lows on the horizon for these 3 battered stocks?
  5. Why Nimble Storage Inc (NYSE:NMBL) took a nosedive below its IPO price.

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Commodities:

A dovish speech from European Central Bank (ECB) President Mario Draghi lifted the greenback against the euro, ultimately weighing on dollar-denominated commodities like oil. However, reports of a drop in active U.S. rigs kept black gold's slide in check. By the close, December-dated oil -- which expires today -- gave up 15 cents, or 0.4%, to sit at $40.39 per barrel. For the week, crude fell 0.9%.

A stronger dollar also weighed on gold, pushing December futures $1.60, or 0.1%, lower to $1,076.30 an ounce. For the week, the malleable metal surrendered 0.4%, marking its fifth straight week-over-week decline.

 

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