Dow Jones Industrial Average Clinches Third Monthly Win

The 25 Worst May Stocks

Apr 29, 2016 at 4:30 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) was down nearly 180 points at its intraday low, as sharp losses for a trio of blue-chip stocks and a lackluster round of economic data applied pressure. However, the Dow managed to significantly pare its deficit by the close, and hang on for a third consecutive monthly win. Meanwhile, as stocks struggled, gold kept its hot streak going, while the CBOE Volatility Index (VIX) jumped to levels not seen since mid-March -- and closed just below its 50-day moving average.

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

The Dow Jones Industrial Average (DJIA - 17,773.64) gave up 57.1 points, or 0.3%. Just eight blue chips advanced, led by Home Depot Inc's (NYSE:HD) 0.9% gain. Meanwhile, Boeing Co (NYSE:BA) was flat, and Wal-Mart Stores, Inc. (NYSE:WMT) paced the 21 losers, shedding 3%. The Dow finished on a weekly loss of 1.3%, but picked up 0.5% on the month.

The S&P 500 Index (SPX - 2,065.30) dipped 10.5 points, or 0.5%. On a weekly basis, the SPX dropped 1.2%, but held on for a 0.3% April advance. Worst off, the Nasdaq Composite (COMP - 4,775.36) shed 29.9 points, or 0.6%. For the week and month, the COMP surrendered 2.7% and 1.9%, respectively.

The CBOE Volatility Index (VIX - 15.70) popped 0.5 point, or 3.2%, bringing its weekly gain to 18.8%. On a monthly basis, the market's "fear gauge" soared 12.5%.

Indexes Closing Summary April 29

NYSE and Nasdaq Stats April 29

5 Items on Our Radar Today:

  1. Paychecks are stagnating while healthcare costs rise, found the Bureau of Labor Statistics' most recent employment cost index. (CNBC)
  2. Consumer sentiment hit a seven-month low in April, and expectations for economic growth plummeted into territory not seen since September 2014, according to the latest Thomson Reuters/University of Michigan survey. (Bloomberg)
  3. Rovi Corporation (NASDAQ:ROVI) finally confirmed rumors of a TiVo Inc. (NASDAQ:TIVO) buyout and edged just a little closer to closing its April 1 bear gap. 
  4. Expedia Inc (NASDAQ:EXPE) jumped more than 8% after a pleasant earnings surprise.
  5. One online retailer surged out of the gate after astonishing quarterly results.

Quarterly Earnings April 29

Unusual Options Activity April 29
Data courtesy of
Trade-Alert

Commodities:

Oil prices hit a year-to-date high of $46.78, but finished in the red after media surveys revealed a monthly production uptick from members of the Organization of the Petroleum Exporting Countries (OPEC). June-dated crude futures lost 11 cents, or 0.2%, to land at $45.92 per barrel. For the week and month, though, crude oil soared 5% and 19.8%, respectively.

Gold rallied for a fifth consecutive session, as the dollar weakened and the broad-market sell-off sparked interest in "safe haven" assets. Specifically, June-dated gold popped $24.10, or 1.9%, to settle at $1,290.50 per ounce -- while spot gold hit a 15-month high of $1,299 an ounce. On a weekly basis, gold surged 4.9%, and tacked on 4.4% for the month.

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners