Dow Jones Industrial Average, S&P Swallowed by Retail Sell-Off

2 Small Caps Making Big Moves

May 11, 2016 at 4:30 PM
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The Dow Jones Industrial Average (DJIA) plunged out of the gate, giving back all of yesterday's big gains by the time the closing bell mercifully rang. Pressuring the Dow to a 217-point loss was an unusual earnings miss from blue-chip Walt Disney Co (NYSE:DIS), as well as a sector-related slump for retail stock Wal-Mart Stores, Inc. (NYSE:WMT). What's more, a series of negative earnings reactions from the retail sector -- as well as a big-time merger breakup -- caused the S&P 500 Index (SPX) to snap its three-day winning streak. In fact, not even rallying crude futures could save stocks, while another big day for Amazon.com, Inc. (NASDAQ:AMZN) failed to boost the Nasdaq Composite (COMP).

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

The Dow Jones Industrial Average (DJIA - 17,711.12) ended near its session low, giving back 217.2 points, or 1.2%. The only Dow component in the green at the end of the day was Microsoft Corporation (NASDAQ:MSFT), which eked out a 0.06% win. DIS paced the 29 losers with its 4% post-earnings slide. 

The S&P 500 Index (SPX - 2,064.46) joined the losers table with a 19.9-point, or 1%, loss. The Nasdaq Composite (COMP - 4,760.69) closed the day down 49.2 points, or 1%. 

The CBOE Volatility Index (VIX - 14.69) added 1.1 points, or 7.8%. 

Indexes closing summary May 11

NYSE and NASDAQ stats May 11

5 Items on Our Radar Today:

  1. The U.S. government posted a $106 billion surplus in its April budget, according to the Treasury Department. However, this was below expectations -- and a 32% decrease from April 2015. Additionally, receipts last month declined by 7% year-over-year. (Reuters)
  2. Wal-Mart is suing fellow Dow component Visa Inc (NYSE:V) over the proper check-out protocol for customers using credit and debit cards. WMT wants customers to enter a pin when using a new chip debit card --- a less expensive option than the signature verification V has been allowing. Both stocks finished in the red today. (USA Today)
  3. How these 3 biotech stocks caught Wall Street's eye. 
  4. Tiffany & Co. (NYSE:TIF) couldn't avoid the retail swoon
  5. The gold stocks getting upgraded across the Street. 

Quarterly Earnings May 11

Unusual Options Activity May 11
Data courtesy of
Trade-Alert

Commodities:

An unexpected drop in domestic crude inventories helped lift June-dated crude futures $1.57, or 3.5%, to $46.23 per barrel. This was the best close for a front-month crude contract since early November. 

Gold futures also rose today, as the dollar took a rare step back. Gold dated for June delivery added $10.70, or 0.9%, to land at $1,275.50 per ounce. 

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