Oil Weakness Drags Dow Jones Industrial Average Into the Red

Why These 6 Stocks Are Set to Move This Week

Dec 28, 2015 at 4:27 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) suffered a setback today, as plunging crude futures pressured oil stocks into the red. Meanwhile, weakness in the energy sector dragged the broader S&P 500 Index (SPX) below a critical technical level. Elsewhere, it was a light day on the data front, though the Dallas Fed manufacturing index suffered a huge drop.

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

The Dow Jones Industrial Average (DJIA - 17,528.27) spent the entire session in the red, finishing on a loss of 23.9 points, or 0.1%. Eighteen of the Dow's 30 components gave up ground, paced by Chevron Corporation's (NYSE:CVX) 1.8% loss. Walt Disney Co (NYSE:DIS) paced the 12 gainers, tacking on 1.3%.

The S&P 500 Index (SPX - 2,056.50) ticked 4.5 points, or 0.2%, lower -- and below its year-to-date breakeven. Similarly, the Nasdaq Composite (COMP - 5,040.99) gave up 7.5 points, or 0.2%. 

The CBOE Volatility Index (VIX - 16.91) jumped 1.2 points, or 7.4%, but saw intraday gains contained by its 20-day moving average.

151228recap1c

151228recap2

5 Items on Our Radar Today:

  1. The Dallas Fed's manufacturing index plummeted more sharply than forecast in December, falling to negative 20.1 from negative 4.9. Weighing on the Texas economy are dropping oil prices and a stronger dollar, which has negatively impacted exports. (Business Insider)

  2. DIS will reportedly close 14% of its Disneyland attractions next year to expand its "Star Wars"-themed offerings, which will eventually span a total of 14 acres. The timing is perfect, considering the success of the latest "Star Wars" film, which has already grossed more than $100 million in Imax theaters alone -- not to mention the spring 2016 launch of Harry Potter World at Disneyland's rival park, Universal Studios Hollywood. (Los Angeles Times; MarketWatch)

  3. A rash of bad weather took its toll on these two airline stocks.

  4. Why SolarCity Corp (NASDAQ:SCTY) may be due for a breather.

  5. Short-term traders are hoping this pair of crumbling commodity stocks can muster an end-of-week bounce.


151228recap4
Data courtesy of Trade-Alert

Commodities:

Oversupply concerns again weighed on crude futures, exacerbated by weak consumption data out of Japan -- with oil sales in the island nation hitting a 46-year low last month. By day's end, February-dated crude was down $1.29, or 3.4%, to settle at $36.81 per barrel.

Gold pared some of the prior week's gains, amid a generally weak climate for commodities -- putting the malleable metal on track for a sixth consecutive quarterly loss. Specifically, gold for February delivery slipped $7.60, or 0.7%, to close at $1,068.30 per ounce.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI