Dow Jones Industrial Average Adds 210, Notches First Weekly Win of 2016

Stocks, Oil Soar; Plus, Amazon Attempts World Domination

by Kirra Fedyszyn

Published on Jan 22, 2016 at 4:28 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) ended the day with a gain of more than 200 points, as a huge rally in oil spurred stocks higher. Crude oil for March delivery saw the biggest one-day percentage gain since August, settling back atop the $32-per-barrel level. The DJIA and the S&P 500 Index (SPX) also retook significant round-number thresholds -- 16,000 and 1,900, respectively -- to notch their first weekly wins of 2016.


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The Dow Jones Industrial Average (DJIA - 16,093.51) finished the day up 210.8 points, or 1.3%, with Apple Inc. (NASDAQ:AAPL) leading 27 winners with a 5.3% gain. Credit card giant American Express Company (NYSE:AXP) was the big loser of the day, falling 12.1% on dismal earnings. For the week, the DJIA climbed 0.7%.

The S&P 500 Index (SPX - 1,906.90) added 37.9 points, or 2%, to end the week with a 1.4% gain. The Nasdaq Composite (COMP - 4,591.18) was the biggest winner, posting a gain of 119.1 points, or 2.7% today, and 2.3% for the full week.
  
The CBOE Volatility Index (VIX - 22.34) lost 4.4 points, or 16.3%, for its lowest close in more than a week. For the week, the VIX gave up 17.3%.

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5 Items on Our Radar Today:

  1. According to the U.S. Centers for Disease Control and Prevention (CDC), a strain of listeria found in Dole Food's packaged salads sent 12 to the hospital and resulted in one death. Dole says it has stopped processing at the Springfield, Ohio-based plant where the packages originated, and withdrew all similar products produced at this facility. (Reuters via CNBC)

  2. Existing home sales for the month of December jumped 14.7% -- the largest single-month increase on record. But that doesn't mean the real estate market is booming; new mortgage rules delayed many closings in November, pushing sales into the following month. (MarketWatch)

  3. How is McDonald's Corporation (NYSE:MCD) shaping up ahead of earnings?

  4. Apple Inc. (NASDAQ:AAPL) and Alphabet Inc (NASDAQ:GOOGL) bounced  back.

  5. Why these 3 stocks missed out on today's rally. 


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Data courtesy of Trade-Alert

Commodities:

As the East Coast gets slammed with harsh winter weather, cold temperatures boosted demand for heating oil. This, combined with short covering and a decline in operating rigs in the U.S., sent March crude oil surging $2.66, or 9%, higher, to settle at $32.19 a barrel -- its largest single-day percentage gain since August. For the week, crude oil added 5.9% (comparing front-month contracts).

Amid hints of stimulus from overseas and a strengthening greenback, dollar-denominated gold for February dwindled $1.90, or 0.2%, for a close of $1,096.30 an ounce. Still, the metal added 0.5% on a weekly basis.

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