Tech Trounces Nasdaq; Dow Jones Industrial Average Dives

Tech Slaughters Nasdaq; Plus, 3 Stocks to Watch in the Zika Race

Feb 5, 2016 at 4:28 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) fell steadily throughout the day, as Wall Street weighed the economic and rate-hike implications of January's jobs data. Traders also watched choppy price action in crude oil futures, on top of a round of weak earnings -- particularly out of the tech sector. In fact, the tech-rich Nasdaq Composite (COMP) suffered the most, marking its lowest settlement since October 2014.


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

The Dow Jones Industrial Average (DJIA - 16,204.83) lost 211.8 points, or 1.3%, with athletic retailer Nike Inc (NYSE:NKE) once again leading the laggards with a 5% slide.  Pharmaceutical concern Merck & Co, Inc. (NYSE:MRK) paced the nine advancing blue chips, gaining 1.6%. For the week, the DJIA dropped 1.6%.

The S&P 500 Index (SPX - 1,880.02) once again gave up the round 1,900 level, falling 35.4 points, or 1.9%, and posting a weekly loss of 3.1%. The Nasdaq Composite (COMP - 4,363.14) dropped 146.4 points, or 3.3%, on big losses in the tech sector, bringing its weekly loss to 5.5%.

The CBOE Volatility Index (VIX - 23.38) climbed 1.5 points, or 7.1%, as the market slumped, ending the week 15.7% higher.

160205recap1

160205recap2


5 Items on Our Radar Today:

  1. Today's nonfarm payrolls report showed 151,000 new jobs created in January -- notably lower than the 180,000 economists has predicted. Still, the overall unemployment rate fell to 4.9%, marking an eight-year low, and wage growth jumped 0.5%. Many expect this bright spot to increase chances of a rate hike from the Fed in the near future. (MarketWatch)

  2. A large construction crane collapsed during a snowstorm in Manhattan this morning, killing one and injuring at least three others. Officials do not yet know the cause of the accident, though strong winds are suspected, and an investigation is underway. (Reuters)

  3. Bad news from the FDA sent this biotech stock reeling.

  4. Why these 2 cybersecurity stocks got crushed.

  5. Option bears flocked to troubled Tesla Motors Inc (NASDAQ:TLSA).

160205recap3



160205recap4

  Data courtesy of Trade-Alert

Commodities:

As the dollar picked up steam, March crude oil finished with a loss of 83 cents, or 2.6%, at $30.89 a barrel, even as the number of active U.S. rigs dropped last week. For the week, crude fell 8.2%. Meanwhile, gasoline futures settled below $1 a gallon for the first time since 2008.

Despite growing expectations for a rate hike, as well as a strengthening dollar, April-dated gold eked out a gain of 20 cents to close at $1,157.70 an ounce. Gold climbed 3.7% over the course of the week -- the best week since August.

 

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