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
facebook twitter linkedin


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.

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

 

 

These investors are using the market's volatility to their advantage and scoring triple-digit gains on many of their trades.

Even in today's sideways bear market, this trading strategy has continued to provide consistency and profitability to a small group of investors. By using this approach, these traders are removing directional risk and still hitting triple-digit returns. If you want access to this strategy, and lower risk with higher returns sounds good to you, then don't wait another minute.

Join us now to receive our next trades the moment they come out!

 

Common mistakes options traders make
 


 


 
Special Offers from Schaeffer's Trading Partners