Dow Jones Industrial Average Extends Worst Weekly Losing Streak Since 2014

The Biotech Expected to Double After Next Week's FDA Decision

May 20, 2016 at 4:27 PM
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The Dow Jones Industrial Average (DJIA) spent the day in the black, as traders managed to shake off some of the Fed rate-hike fears that have weighed on stocks for the past two days. However, while a lift in existing home sales for April initially helped boost the Dow to a triple-digit lead, the index pared its gains in afternoon trading, extending its longest weekly losing streak since October 2014. 

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

The Dow Jones Industrial Average (DJIA - 17,500.94) ended the day up 65.5 points, or 0.4%. Of the 21 DJIA winners, DuPont (NYSE:DD) led with a 2.1% increase, while McDonald's Corporation (NYSE:MCD) brought up the rear with its 2.2% loss. On a weekly basis, the Dow shed 0.2%.

The S&P 500 Index (SPX - 2,052.32) also finished ahead -- up 12.3 points, or 0.6% -- while the Nasdaq Composite (COMP – 4,769.56) added 57 points, or 1.2%. For the week, the SPX rose 0.3%, while the COMP jumped 1.1%.

The CBOE Volatility Index (VIX - 15.20) fell 1.1 points, or 6.9%. Week-over-week, the market's "fear gauge" added 1.1%.

Indexes Closing Summary May 20




NYSE and Nasdaq Stats May 20



5 Items on Our Radar Today:

  1. Samsung is partnering with Alibaba Group Holding Ltd's (NYSE:BABA) Alipay to take on Apple Inc. (NASDAQ:AAPL) in the fight for China's payment services market. (CNBC)

  2. Deere & Company (NYSE:DE) closed down, after the company's downwardly revised guidance overshadowed a fiscal second-quarter beat. (Fortune)

  3. Analysts think this surging Dow stock could reach 15-year highs.

  4. Option bears bombarded Nike Inc (NYSE:NKE).

  5. 2 tech stocks feeling the post-earnings love from analysts.

Quarterly Earnings May 20

Unusual Options Activity May 20

Data courtesy of
Trade-Alert

Commodities:

June-dated crude futures slipped 41 cents, or 0.9%, to end the day at $47.75 per barrel, as the domestic oil rig count held steady after declining for eight straight weeks, and the U.S. dollar strengthened. For the week, however, oil prices jumped 3.3%.

The stronger dollar also weighed on June-dated gold, which fell $1.90, or 0.2%, to finish the week at $1,252.90 an ounce. Week-over-week, gold lost 1.6% -- its second consecutive weekly loss.

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