Dow Jones Industrial Average Adds 313 Points as Oil Rallies

4 Stocks Set for Big Moves Next Week

by Josh Selway

Published on Feb 12, 2016 at 4:26 PM

The bullish stars aligned on Wall Street today, snapping a five-day losing streak for the Dow Jones Industrial Average (DJIA). Not surprisingly, crude futures remained in focus -- though today, oil prices were a positive driver for stocks, with crude oil rising on talk of reduced production. Elsewhere, optimistic comments about the U.S. economy from New York Fed President William Dudley further stoked the buying mood. However, the Dow and its equity benchmarks still closed the volatile week with losses. 


Continue reading for more on today's market, including
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The Dow Jones Industrial Average (DJIA - 15,973.84) jumped out of the gate and didn't look back, storming higher throughout the day for a 313.7-point, or 2%, victory that snapped a five-day skid. Not a single Dow component closed lower, with banking giants JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) leading the charge with respective gains of 8.3% and 3.9%. The blue-chip index closed the week with a 1.4% loss. 

The S&P 500 Index (SPX - 1,864.78) also snapped its losing streak by advancing 35.7 points, or roughly 2%. The Nasdaq Composite (COMP - 4,337.51) finished up 70.7 points, or 1.7%. For the week, the SPX dropped 0.8%, while the COMP declined 0.6%. 

The CBOE Volatility Index (VIX - 25.40) shed 2.7 points, or 9.7% -- but settled with a weekly gain of 8.6%, closing all five sessions above its 20-day moving average. 

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5 Items on Our Radar Today:

  1. New York Fed President William Dudley told reporters on Friday that conversations about negative interest rates are "extraordinarily premature." Dudley cited the positive momentum of the U.S. economy, though he said deflated oil prices could keep inflation below the Fed's target.  (Reuters)  

  2. Speaking of that positive economic momentum, U.S. retail sales topped expectations for January, jumping 0.2%. Economists were expecting an increase of just 0.1%, given the inclement weather seen across the country. 

  3. What could "stunt profitability" for this cybersecurity stock? 

  4. The acquisition that lifted Amazon.com, Inc. (NASDAQ:AMZN)

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  Data courtesy of Trade-Alert

Commodities:

Crude oil futures exploded, notching their biggest one-day percentage gain in over seven years after the United Arab Emirates oil minister said the Organization of the Petroleum Exporting Countries (OPEC) would consider production cuts. Despite March-dated crude's gain of $3.23, or 12.3%, to end at $29.44 per barrel, oil fell 4.7% for the week. 

Gold ended a historic week on a low note amid the bounce in stocks. April-dated gold futures slid $8.40, or 0.7%, to settle at $1,239.40 per ounce. However, gold added 7.1% for the week, its largest such gain in over six years. 


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