Dow Jones Industrial Average Battles Back; 'Brexit' Campaigns Suspended

3 Names Attracting Big-Time 'Brexit' Bets

Jun 16, 2016 at 4:24 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) looked to be on track for its sixth straight day of losses, before stocks pulled an about-face and headed back into the black. The "Brexit" story took a tragic turn following the murder of British Parliament member Jo Cox, which prompted U.K. Prime Minister David Cameron to suspend all official campaigning. Meanwhile, some speculated that the June 23 referendum could be delayed. As the dollar backed off against the pound, the Dow muscled its way back from a nearly 170-point drop to end comfortably higher, and the U.S. 10-year Treasury yield recovered from three-year-low territory.

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

The Dow Jones Industrial Average (DJIA - 17,733.10) was down close to 170 points at its session low, but made a massive recovery to finish 92.9 points, or 0.5%, higher, and snap its five-day losing streak. Merck & Co., Inc. (NYSE:MRK) led the 26 Dow winners, with a gain of 2.5%, while Nike Inc (NYSE:NKE) lost 1.5%, the most of the four Dow losers.

The S&P 500 Index (SPX - 2,077.99) also clawed its way out of the red, adding 6.5 points, or 0.3%, and the Nasdaq Composite (COMP – 4,844.91) gained 10 points, or 0.2%, after an early drop.

The CBOE Volatility Index (VIX - 19.37) lost 0.7 point, or 3.8%.

indexes closing summary june 16

nyse and nasdaq stats june 16

5 Items on Our Radar Today: 

  1. Option players are rushing to pull the trigger on firearms trades as the U.S. Senate prepares to vote on gun control after Senator Chris Murphy's 15-hour filibuster. (Reuters)
  2. According to a Labor Department report, the consumer price index (CPI) and core CPI both rose 0.2% in May, short of the consensus forecast for a  0.3% rise. However, the cost of shelter rose by the most in nine years. (Bloomberg)
  3. American Airlines Group (NASDAQ:AAL) struggled for liftoff after a bearish brokerage note.
  4. The semiconductor stock that "impressed" the analysts.
  5. Option bulls bet on World Wrestling Entertainment, Inc. (NYSE:WWE) after a China partnership.

quarterly earnings june 16

unusual options activity june 16
Data courtesy of
Trade-Alert

Commodities:

July-dated oil dropped $1.80, or 3.8%, to end the day at $46.21 per barrel -- a five-week low -- after six straight days of declines. Black gold lost ground as the dollar strengthened.

August-dated gold gained $10.10, or 0.8%, to end the day at $1,298.40 per ounce. The precious metal touched a two-year high earlier in the day, but gave up some of its gains as "Brexit" fears temporarily stemmed.

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI