Dow Jones Industrial Average Claws Higher

2 Plunging Apple Partners; Plus, Fitbit's Bad Day

by Josh Selway

Published on Jan 5, 2016 at 4:28 PM
Updated on Jan 5, 2016 at 4:28 PM

The Dow Jones Industrial Average (DJIA) did its best to fight off another dismal day in China, resolving a back-and-forth session to the upside. In addition, the blue-chip index defied a steep drop from Apple Inc. (NASDAQ:AAPL) and escalating tensions in the Middle East, with traders bargain hunting after yesterday's dismal start to 2016

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

The Dow Jones Industrial Average (DJIA - 17,158.66) traded in a 157-point range on both sides of breakeven, ending the day with a slim 9.7-point, or 0.1%, win. Of the Dow's 30 components, 22 finished higher, with Wal-Mart Stores, Inc. (NYSE:WMT) taking the top spot with a 2.4% jump. AAPL was the worst off, dropping 2.5%. 

The S&P 500 Index (SPX - 2,016.71) also managed its first win of the year, gaining 4.1 points, or 0.2%. The Nasdaq Composite (COMP - 4,891.43) wasn't so lucky, falling 11.7 points, or 0.2%. 

The CBOE Volatility Index (VIX - 19.34) settled with a 1.4-point, or 6.6%, loss. 

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5 Items on Our Radar Today:

  1. As expected, President Barack Obama announced new executive orders in an attempt to curb gun violence -- which, in turn, boosted firearm stocks. Obama, moved to tears during the speech, said he plans to expand federal background checks on gun purchases, while improving the systems already in place. (​CNBC) 

  2. Auto sales remained strong in December, pointing toward a possible record-breaking year in 2015. However, Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) missed analysts' expectations. (Reuters)

  3. Goldman gave big nods to First Solar, Inc. (NASDAQ:FSLR) and this sector peer

  4. The analyst note that had GoPro Inc (NASDAQ:GPRO) suddenly outperforming

  5. Why Twitter Inc (NYSE:TWTR) traders were in a tizzy


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Data courtesy of Trade-Alert

Commodities:

Crude dated for February delivery fell by 79 cents, or 2.2%, to close at $35.97 per barrel -- a two-week low. Traders mostly ignored the deteriorating relationship between Saudi Arabia and Iran, as a stronger dollar weighed on oil futures. 

Weakness in Chinese stock markets led to a rise in gold prices today, as traders sought safe-haven investments. Gold dated for February added $3.20, or 0.3%, to end at $1,078.40 per ounce -- a two-week high. 


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