Dow Jones Industrial Average Swings Higher With Crude

The Costly Rumors That Sent Sarepta Spiraling

by Celeste Taylor

Published on Jun 2, 2016 at 4:32 PM

The Dow Jones Industrial Average (DJIA) slipped at the open, as stocks reacted to mixed jobs data and the Organization of the Petroleum Exporting Countries' (OPEC) decision to stand pat on its current level of oil production. However, an encouraging report on domestic crude inventories eventually sent the Dow -- and crude futures -- back above breakeven. Elsewhere, a rally in healthcare stocks helped the S&P 500 Index (SPX) overcome an early deficit, and settle north of the critical 2,100 mark for the first time since April 20.

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

The Dow Jones Industrial Average (DJIA - 17,838.56) finished the day with a gain of 48.9 points, or 0.3%. DuPont (NYSE:DD) ended up 2.6%, leading 22 of 30 Dow winners. Exxon Mobil Corporation (NYSE:XOM) and Apple Inc. (NASDAQ:AAPL) brought up the rear, each shedding 0.8%.

The S&P 500 Index (SPX - 2,105.26) also ended the day with gains, finishing up 0.3%, or 5.9 points -- its highest settlement since early November. The Nasdaq Composite (COMP - 4,971.36) added 19.1 points for a 0.4% gain, its seventh straight day straight win. 

The CBOE Volatility Index (VIX – 13.63) lost 0.6 point, or 4%.

Indexes closing summary June 2

NYSE and NASDAQ stats June 2

5 Items on Our Radar Today:

  1. Business mogul and Facebook Inc (NASDAQ:FB) Chief Operating Officer Sheryl Sandberg quashed rumors about leaving her position at FB to take the role of CEO at Walt Disney Co (NYSE:DIS), saying, "I don’t want another job." (Fortune)

  2. Dallas Fed President Robert Kaplan echoed recent hawkish statements from his peers. Specifically, Kaplan said with the U.S. "pretty darn close" to full employment and signs that inflation is beginning to rise, he supports hiking interest rates in the "near future." (Reuters)

  3. Oracle Corporation (NYSE:ORCL) puts flew off the shelves, after the tech firm was slapped with a wrongful termination lawsuit.

  4. Pre-earnings options traders took aim at these 2 semiconductor stocks.

  5. Kate Spade & Co (NYSE:KATE) followed Vera Bradley, Inc. (NASDAQ:VRA) down the rabbit hole.

Quarterly Earnings June 2

Unusual Options Activity June 2

Data courtesy of


After a morning stumble, July-dated oil closed up 16 cents, or 0.3%, at $49.17 per barrel. OPEC's decision to not set a production ceiling encouraged the initial drop, but a surprise decline in U.S. crude inventories calmed investors' nerves.

June-dated gold dropped $2.10, or 0.2%, to end the day at $1,209.80 an ounce -- its lowest close since Feb. 16. A rise in the U.S. dollar and signs of an impending rate hike weighed on the precious metal.

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