Dow Jones Industrial Average Erases Triple-Digit Slump

The Best Stocks For Options Players

by Celeste Taylor

Published on Jun 1, 2016 at 4:26 PM

The Dow Jones Industrial Average (DJIA) started the day with a triple-digit slump, but stocks erased their losses by the close, in step with oil prices. Crude futures spent the day in the red, but ended well off their lows on rumors that the Organization of the Petroleum Exporting Countries (OPEC) will consider instituting a new output ceiling during tomorrow's meeting. Meanwhile, promising U.S. manufacturing reports helped to offset lackluster data out of China, and counter the weight of decreased auto sales and construction spending.

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

The Dow Jones Industrial Average (DJIA - 17,789.67) ended the day with a gain of 2.5 points, after being down more than 100 points early on. DuPont (NYSE:DD) led the 17 Dow winners with a gain of 1.5%, while Apple Inc. (NASDAQ:AAPL) brought up the rear among 13 losers, ending the day down 1.4%. 

The S&P 500 Index (SPX - 2,099.33) also clawed out of the red, finishing the day up 2.4 points, or 0.1%, just shy of the 2,100 level. The Nasdaq Composite (COMP - 4,952.51) added 4.2 points for a 0.1% gain -- its sixth straight -- for its highest finish since April.

The CBOE Volatility Index (VIX – 14.21) made fractional gains to end the day up 0.1%.

Indexes closing summary June 1

NYSE and NASDAQ stats June 1

5 Items on Our Radar Today:

  1. Toyota Motor Corp (ADR) (NYSE:TM) is reportedly in the final stages of talks to purchase two robotics companies from Google's parent company, Alphabet Inc (NASDAQ:GOOGL). (Nikkei Asian Review)

  2. Cheers! Jose Cuervo may be going public next quarter, and reportedly hopes to raise $1 billion. (Bloomberg)

  3. This biotech was flying high after a nod from the FDA, while these 3 medical companies scored upbeat analyst attention.

  4. These 3 casino stocks had options players betting big.

  5. The stock that nearly quadrupled today.


Quarterly Earnings June 1


Unusual Options Activity June 1

Data courtesy of
Trade-Alert

Commodities:

After falling as low as $47.75, July-dated oil pared its losses to 9 cents, or 0.2%, to end at $49.01 per barrel, on rumors of an OPEC production ceiling. A strengthening dollar also weighed on crude futures.

June-dated gold dropped 0.2%, or $2.90, to end the day at $1,211.90 per ounce. The precious metal struggled against a strengthening dollar and lingering expectations for a summer rate hike from the Fed.

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