Dow Jones Industrial Average Scores Triple-Digit Gain

A Frantic Run on FireEye Options; Plus, 3 Retailers Ready for Earnings

May 24, 2016 at 4:27 PM
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The Dow Jones Industrial Average (DJIA) took off running out of the gate and didn't slow down. Tech and financial stocks paced the rally, with Microsoft Corporation (NASDAQ:MSFT) and Visa Inc (NYSE:V) leading the Dow to a triple-digit gain. Good news in the housing market and rising oil prices also lent support to stocks, overshadowing recent Fed fears.

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

The Dow Jones Industrial Average (DJIA - 17,706.05) finished in the black, up 213.1 points, or 1.2%. MSFT's 3.1% gain led the 29 Dow winners, while Boeing Co (NYSE:BA) was the single loser of the day, suffering a fractional loss.

The S&P 500 Index (SPX – 2,076.06) gained 28 points, or 1.4%, while the Nasdaq Composite (COMP – 4,861.06) enjoyed gains of 95.3 points, or 2%, to topple its 200-day moving average for the first time since April 27.

The CBOE Volatility Index (VIX - 14.42) fell 1.4 points, or 8.9%, to finish the day with a loss. 

indexes closing summary may 24


nyse and nasdaq stats may 24

5 Items on Our Radar Today:

  1. Monsanto Company (NYSE:MON) rejected Bayer AG's $62 billion offer, calling it "incomplete" and "inadequate" but left the door open for future offers. (ABC News)

  2. Following in Apple Inc.'s (NASDAQ:AAPL) footsteps, Volkswagen invested $300 million in Uber rival  Gett. (Fortune)

  3. DSW Inc. (NASDAQ:DSW) hit a five-year low, and options players think it won't end there.

  4. Toll Brothers Inc (NYSE:TOL) enjoyed a post-earnings rally, lifting these sector peers.

  5. Under Armour Inc (NYSE:UA) just inked a record 15-year deal.


quarterly earnings may 24

unusual options activity may 24

Data courtesy of
Trade-Alert

Commodities:

July-dated crude futures rose 54 cents, or 1.1%, to $48.62 per barrel -- their best close since October -- in anticipation of falling U.S. inventories and reduced output from Iraq. 

June-dated gold plummeted $22.30, or 1.8%, to $1,229.20 an ounce -- the precious metal's fifth straight loss and a four-week low -- as the dollar strengthened and rate-hike expectations prevailed. A rally in the stock market also diminished gold's "safe haven" appeal.

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