Dow Jones Industrial Average Kicks Off Holiday Week On a Strong Note

Time to Buy Apple? Plus, 3 Stocks to Watch This Week

Dec 21, 2015 at 4:25 PM
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The Dow Jones Industrial Average (DJIA) closed out the first session of the holiday-shortened week in the black. However, the big-cap index had to overcome a midday dip along the way, as well as a surprisingly weak post-"Star Wars" performance from blue chip Walt Disney Co (NYSE:DIS). Amid light volume, traders again considered lower oil prices, with no prominent economic reports due out until tomorrow's final reading on third-quarter gross domestic product (GDP). 

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

The Dow Jones Industrial Average (DJIA - 17,251.62) surged in first and final hours of trading, to add 123.1 points, or 0.7%. Just four of the Dow's 30 components closed in the red, including DIS, which led the losers with a 1.1% decline. JPMorgan Chase & Co. (NYSE:JPM) paced the advancers, adding 1.8%. 

The S&P 500 Index (SPX - 2,021.15) managed a 15.6-point, or 0.8%, win, kicking off a historically positive week. The Nasdaq Composite (COMP - 4,968.92) closed the day up 45.8 points, or 0.9%. 

The CBOE Volatility Index (VIX - 18.70) dropped 2 points, or 9.7%, but still closed above its 20-day moving average for the 10th consecutive session. 


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5 Items on Our Radar Today:

  1. South Carolina Sen. Lindsey Graham, a Republican, announced he's exiting the 2016 presidential race. "While we have run a campaign that has made a real difference, I have concluded this is not my time," Graham said in a farewell video. (USA Today)

  2. Caterpillar Inc. (NYSE:CAT) was accused of misappropriating the trade secrets of a former supplier, and was ordered to pay $73.6 million in damages. (Reuters via Yahoo Finance)

  3. Short sellers are waiting anxiously for this beleaguered biotech to resume trading

  4. A buyout offer from Carl Icahn had this stock at levels not seen in eight years. 

  5. Where did these Twitter Inc (NYSE:TWTR) option bulls come from?



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Data courtesy of Trade-Alert

Commodities:

Oil futures fell again today, with fears of a global supply glut weighing on investors. Crude for February delivery closed down 25 cents, or 0.7%, at $35.81 per barrel. Brent crude, meanwhile, dropped to 11-year lows.

On the other hand, gold got a jolt thanks to a weakening dollar. February gold added $15.60, or 1.5%, ending at $1,080.60 per ounce -- its best finish in roughly two weeks. 

 

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