Dow Jones Industrial Average Snaps Losing Streak; Crude Hits New Low

4 Oil Stocks in Focus as Crude Keeps Sliding

Dec 10, 2015 at 4:23 PM
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After a shaky start this morning, the Dow Jones Industrial Average (DJIA) snapped its three-day losing streak to finish in the black. Stocks in the energy sector bounced back, despite a continued slide in crude oil, and traders also shrugged off an unexpectedly large increase in jobless claims ahead of next week's crucial Fed meeting.

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

The Dow Jones Industrial Average (DJIA - 17,574.75) added 82.5 points, or 0.5%, thanks to a big comeback for energy stocks. Chevron Corporation (NYSE:CVX) paced the blue-chip index's 24 gainers, climbing nearly 2% for the day.

The S&P 500 Index (SPX - 2,052.23) gained 4.6 points, or 0.2%, to end the day just shy of year-to-date breakeven. The Nasdaq Composite (COMP - 5,045.17) climbed 22.3 points, or 0.4%, thanks to wins in the tech sector. 

The CBOE Volatility Index (VIX - 19.34) lost a slim 0.3 point, or 1.4%.

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5 Items on Our Radar Today:

  1. Jobless claims in the U.S. climbed by 13,000 last week, hitting the highest level in five months. However, most economists downplayed the jump, attributing the week-to-week volatility to seasonal trends. (MarketWatch)

  2. While climate talks in Paris are in their second week, Ben & Jerry's CEO Jostein Solheim has joined the group of some 200 world leaders to give his two cents on how the global crisis could affect the future of ice cream. Ben & Jerry's earlier this year released a flavor called "Save Our Swirled" to bring attention to the issue, which is already weighing on the price and availability of important ingredients, such as cocoa. (CNBC)

  3. One analyst doesn't care if this company's coffee cups aren't festive enough.

  4. How can Wal-Mart Stores, Inc. (WMT) compete with Apple Inc. (AAPL)?

  5. This gaming retailer hit a new low on more bearish brokerage attention.


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Data courtesy of Trade-Alert

Commodities:

Oil extended its decline to a fifth day, settling at another new six-year low as the monthly market report from the Organization of the Petroleum Exporting Countries (OPEC) showed production ramping to a three-year high in November. January-dated crude futures slid another 40 cents, or 1.1%, to close at $36.76 a barrel.

As investors brace for a likely interest rate hike out of next week's Federal Open Market Committee (FOMC) meeting, the U.S. dollar bounced, pushing gold lower. February gold futures dropped $4.50, or 0.4% to settle at $1,072.00 an ounce.

 

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