Dow Jones Industrial Average Nabs Best Close of The Year

2 Big Banks to Watch

Apr 13, 2016 at 4:28 PM

COMP
SPX
FB
BTU
JPM
DJIA

The Dow Jones Industrial Average (DJIA) jumped triple digits at the open, and kept its momentum throughout the day -- even as oil prices pulled back from Tuesday's notable milestone and retail sales missed the mark. Instead, stocks reacted to encouraging Chinese export data and a strong earnings reaction for financial firm -- and Dow component -- JPMorgan Chase & Co. (NYSE:JPM). In fact, as the dust settled on this risk-on session, the Dow, S&P 500 Index (SPX), and the Nasdaq Composite (COMP) were all sitting at year-to-date closing highs.

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

Why these gold stocks are taking a time-out.
The next pair of big banks stepping into the earnings confessional.
2 China ETFs taking off.
Plus ... Toyota's latest recall, the Fed unveils the Beige Book, and another down day for Facebook.

The Dow Jones Industrial Average (DJIA - 17,908.28) added 187 points, or 1.1%, with JPM leading 25 of the 30 Dow stocks higher on a 4.2% gain. The Coca-Cola Co (NYSE:KO) paced the five laggards, giving up 1.3%.

The S&P 500 Index (SPX - 2,082.42) climbed 20.7 points, or 1%, while the tech-heavy Nasdaq Composite (COMP - 4,947.42) added 75.3 points, or 1.6%.

The CBOE Volatility Index (VIX - 13.84) fell 1 point, or 6.8%.

Index Closing Summary April 13

NYSE and Nasdaq Stats April 13

5 Items on Our Radar Today:

Toyota Motor Corp (ADR) (NYSE:TM) recalled about 58,000 2016 Avalon and Camry models due to faulty front passenger airbags. The company said that improper calibration during manufacturing may cause the airbags to fail to deploy in the event of a crash. (CNBC)
The release of the Federal Reserve's Beige Book revealed optimism about economic growth, with wages increasing in all Fed districts except Atlanta. However, the report made little mention of any risks from overseas markets -- a topic near and dear to the central bank. (MarketWatch)
Call buyers double down on slipping Facebook Inc (NASDAQ:FB).
The M&A buzz lighting up this biotech stock's option pits.
Peabody Energy Corporation (NYSE:BTU) spent the day halted, after the company confirmed recent insolvency chatter.

Quarterly Earnings April 13

Unusual Options Activity April 13

Data courtesy of Trade-Alert

Commodities:

Crude oil pulled back today, after the weekly inventories update showed a larger-than-expected increase in U.S. stockpiles. By the close, May-dated crude futures were down 41 cents, or 1%, to settle at $41.76 per barrel.

Gold also took a step back today, snapping its four-day winning streak, as the dollar rebounded and traders turned their attention to riskier assets. Gold futures for June slipped $12.60, or 1%, to $1,248.30 an ounce.

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