Dow Jones Industrial Average Ekes Out a Win Before Jobs Friday

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May 5, 2016 at 4:26 PM
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The Dow Jones Industrial Average (DJIA) spent most of the day in positive territory before turning lower in the afternoon, as caution set in ahead of tomorrow's key nonfarm payrolls report. Stocks also reacted to speeches from San Francisco Fed President John Williams and St. Louis Fed President James Bullard  -- both of which struck slightly more hawkish tones in regard to raising interest rates.  And while disappointing jobs data also weighed on stocks, the Dow -- unlike its index peers -- managed to eke out a win and avoid a third consecutive loss.

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

The Dow Jones Industrial Average (DJIA - 17,660.71) finished 9.5 points, or 0.1%, higher, with International Business Machines Corp. (NYSE:IBM) leading half of the Dow's 30 components higher on a 1.5% gain. Caterpillar Inc. (NYSE:CAT) led the 14 decliners -- shedding nearly 2% -- while Verizon Communications Inc. (NYSE:VZ) finished flat.

The S&P 500 Index (SPX - 2,050.63) fell 0.5 point, or 0.02%, while the Nasdaq Composite (COMP - 4,717.09) gave up 8.6 points, or 0.2%. 

The CBOE Volatility Index (VIX - 15.91) dropped 0.1 point, or 0.9%, for the day.

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5 Items on Our Radar Today:

  1. Katie Couric is reportedly considering leaving her post as global anchor for Yahoo News, a position she has held for more than two years. Insiders say that, while Couric and other contributors are unhappy with how the site is managed, she would wait to find out which firm plans to purchase Yahoo! Inc. before finalizing her decision t. (MarketWatch)
  2. San Francisco Federal Reserve President John Williams said today that two to three interest rate hikes this year are a "reasonable" possibility, while Atlanta Fed President Dennis Lockhart said he's "on the fence" about a June rate hike. Elsewhere, St. Louis Fed President James Bullard said he is waiting for economic data to gauge whether or not he will support a June interest-rate hike, but that he's "still open." (CNBC; MarketWatch)
  3. Tesla Motors Inc (NASDAQ:TSLA) couldn't sustain its initial post-earnings momentum, shedding 5% by the close.
  4. Oprah may have be cheered Weight Watchers International, Inc.'s (NYSE:WTW) post-earnings pop, but option bears did not.
  5. David Einhorn set his sights on Caterpillar Inc. (NYSE:CAT) and General Motors Company (NYSE:GM).

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Data courtesy of
Trade-Alert

Commodities:

Crude oil climbed for a second straight session in a row, with June futures ending at $44.32 per barrel, up 54 cents, or 1.2%. Continuing wildfires in Alberta, Canada, and escalating violence in Libya have slowed oil production in the respective areas.

Gold declined for the third session in a row, thanks to a stronger dollar. The June-dated gold contract ended at $1,274.30 per ounce, down 0.2%, or $2.10.

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