Dow Jones Industrial Average Ends 3-Day Winning Streak

The Signal Not Seen Since 2009 (And Why You Should Watch These Sectors)

Jun 9, 2016 at 4:24 PM
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The Dow Jones Industrial Average (DJIA) spent the day in the red, dropping back below the key 18,000 level and breaking a three-day winning streak. Stocks took a breather with oil prices, although black gold did manage another finish above $50 per barrel. Meanwhile, bearish comments from billionaire investors George Soros and Carl Icahn also weighed on stocks.

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

The Dow Jones Industrial Average (DJIA - 17,985.19) spent the day lower, finishing with a loss of about 20 points, or 0.1%. Nike Inc (NYSE:NKE) gained 1.5% to lead the 12 Dow winners, while Caterpillar Inc. (NYSE:CAT) brought up the rear among the 16 Dow losers. Cisco Systems, Inc. (NASDAQ:CSCO) and Travelers Companies Inc (NYSE:TRV) finished flat. 

The S&P 500 Index (SPX - 2,115.48) lost 3.6 points, or 0.2%, and the Nasdaq Composite (COMP – 4,958.61) fared the worst of its peers, losing 16 points, or 0.3%.

The CBOE Volatility Index (VIX – 14.64) ended slightly higher, up 0.6 point, or 4%.

indexes closing summary june 9

nyse and nasdaq stats june 9

5 Items on Our Radar Today: 

  1. European Central Bank (ECB) President Mario Draghi warned that Europe's slow growth and weak output could damage European Union (EU) economies for years to come, and said the central bank should "not let inflation undershoot our objective for longer than is avoidable given the nature of the shocks we face." (CNBC)
  2. Amazon.com, Inc (NASDAQ:AMZN) expanded its AmazonFresh grocery delivery service to London, and said it hopes to soon offer it to Prime customers all over the U.K. (Newsweek)
  3. The social media stock set to beat the competition.
  4. The ill-timed analyst note for this sinking biotech.
  5. This insurance stock that might be ready to rally.

quarterly earnings june 9

unusual options activity june 9
Data courtesy of
Trade-Alert

Commodities:

July-dated oil dropped 67 cents, or 1.3%, to finish at $50.56 per barrel, as the dollar rose and traders took profits in the wake of crude's recent run to 10-month highs. On the other hand, natural gas futures skyrocketed to territory not charted since September, following a smaller-than-expected increase in supplies. July-dated natural gas advanced 6% to end at $2.617 per million Btu.

August-dated gold gained $10.40, or 0.8%, to finish at $1,272.70 per ounce. The precious metal climbed to a three-week high on an endorsement from Soros, and as June rate-hike fears faded. However, a stronger dollar limited gains.

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