Dow Jones Industrial Average Ends Modestly Higher; Yellen, 'Brexit' in Focus

2 Transport Stocks That Got Drilled; Plus, A Mass Netflix Exodus?

Jun 21, 2016 at 4:24 PM
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The Dow Jones Industrial Average (DJIA) spent most of the session modestly higher, as "Brexit" fears continued to wane ahead of Thursday's vote in the U.K. However, stocks came off their highs after Fed Chair Janet Yellen began her two-day congressional testimony, where she took a cautious tone regarding U.S. economic growth prospects, and warned of possible market volatility after the "Brexit" vote. 

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

The Dow Jones Industrial Average (DJIA - 17,829.73) ended the day up 24.9 points, or 0.1%. Microsoft Corporation (NASDAQ:MSFT) led the 20 Dow winners with a gain of 1.1%, while Boeing Co (NYSE:BA) came in last of the nine Dow losers, losing 0.9%. DuPont (NYSE:DD) finished at breakeven.

The S&P 500 Index (SPX - 2,088.90) gained 5.7 points, or 0.3%, while the Nasdaq Composite (COMP - 4,843.76) came out ahead by 6.6 points, or 0.1%.

The CBOE Volatility Index (VIX – 18.48) added 0.1 point, or 0.6%.

Indexes closing summary June 21

NYSE and NASDAQ stats June 21

5 Items on Our Radar Today: 

  1. U.S. Federal Aviation Administration(FAA) released new rules for private drone usage, although different, yet-to-be-written regulations will govern commercial drones, like those Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL) plan to use by 2017. (Reuters)
  2. Hedge fund manager Sanjay Valvani was found dead this morning in what appeared to be a suicide. Valvani had recently pleaded not guilty to charges of insider trading to the tune of $25 million. (ABC News)
  3. Marvell Technology Group Ltd (NASDAQ:MRVL) named a new CEO.
  4. Adobe Systems Incorporated (NASDAQ:ADBE) calls popped ahead of tonight's earnings report.
  5. One option bull took a big chance on Herbalife Ltd. (NYSE:HLF).

Quarterly Earnings June 21

Unusual Options Activity June 21

Data courtesy of
Trade-Alert

Commodities:

July-dated oil dropped 1.1%, or 52 cents, to $48.85 per barrel, as investors took profits amid "Brexit" uncertainty. Black gold's fall was padded as Nigerian rebels fired back on reports of a 30-day ceasefire, saying they "never remember having any agreement" with the Nigerian government.

Gold dropped to a 10-day low as investors moved to riskier securities ahead of Thursday's "Brexit" referendum. August-dated gold lost $19.60, or 1.5%, to end the day at $1,272.50 per ounce.

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