Dow Jones Industrial Average Rallies with Banks, Crude

Can Apple Reclaim $100? Plus, Retail's Hidden Gem

by Celeste Taylor

Published on May 25, 2016 at 4:27 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) finished in the black for yet another day of triple-digit gains, as finance stocks continued to rally on rate-hike expectations, and oil prices climbed to seven-month highs. The S&P 500 Index (SPX) also muscled higher on the back of banks and energy stocks, notching its best close in nearly a month.

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

The Dow Jones Industrial Average (DJIA - 17,851.51) ended its second day in a row of triple-digit gains, up 145.5 points, or 0.7%. Goldman Sachs Group Inc's (NYSE:GS) gains of 2.3% led the 26 Dow winners, while Nike Inc (NYSE:NKE) led the four losers with a loss of 1.1%.

The S&P 500 Index (SPX – 2,090.54) gained 14.5 points, or 0.7%, to end at its highest finish in almost a month. The Nasdaq Composite (COMP –4,894.89) also rose 0.7%, or 33.8 points, to top its 320-day moving average for the first time since late April.

The CBOE Volatility Index (VIX – 13.90) finished down for the day, falling 0.5 point, or 3.6%.

indexes closing summary may 25

nyse and nasdaq stats may 25


5 Items on Our Radar Today:

  1. Dallas Fed President Robert Kaplan said he wants to see two interest rate hikes this year, and he plans to "advocate for an increase in the near future." However, he cautioned, the next increase may be in July -- not June -- due to "Brexit" uncertainty(Reuters)

  2. Whole Foods Market, Inc. (NASDAQ:WFM) is trying to appeal to more frugally minded shoppers, and today launched its new 365 chain. (Reuters)

  3. Reports of a bidding war over Yahoo! Inc (NASDAQ:YHOO)? sparked unusual options activity.

  4. One options bear isn't buying the Novavax, Inc. (NASDAQ:NVAX) hype.

  5. Canadian Solar Inc. (NASDAQ:CSIQ) shorts may be scooping up options insurance.


quarterly earnings may 25


unusual options activity may 25

Data courtesy of
Trade-Alert

Commodities:

July-dated crude futures closed up 94 cents, or 1.9%, at $49.56 per barrel, marking a new seven-month high. Oil prices found life in plummeting crude inventories, after the Energy Information Administration (EIA) reported a steeper-than-expected drop last week.

June-dated gold fell $5.40, or 0.4%, to end at $1,223.50 per ounce, a seven-week low. The precious metal was weighed on by a strengthening dollar, surging stocks, and anticipation of a Fed rate-hike.

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