Dow Jones Industrial Average Fights Back After 'Brexit' Sell-Off

25 Possible Post-'Brexit' Bargains

Jun 28, 2016 at 4:26 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) pared some of its post-"Brexit" losses, surging more than 250 points and reclaiming its 200-day moving average. Upbeat gross domestic product (GDP) data and rising oil prices helped boost stocks, as investors stepped out of "safe haven" assets to go bargain-hunting after the S&P 500 Index's (SPX) worst two-day slump since August 2015.

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

The Dow Jones Industrial Average (DJIA - 17,409.72) gained back 269.5 points, or 1.6%, after its worst two-day drop since August 2015. Travelers Companies Inc (NYSE:TRV) led the 29 Dow winners, with a gain of 3.8%, while DuPont (NYSE:DD) was the lone Dow loser, ending the day down 2.1%.

The S&P 500 Index (SPX - 2,036.09) gained 1.8%, or 35.6 points, to take back its own 200-day trendline. The Nasdaq Composite (COMP - 4,691.87) muscled up 2.1%, or 97.4 points.

The CBOE Volatility Index (VIX – 18.75) dropped 5.1 points, 21.4%.

Indexes Closing Summary June 28

NYSE and Nasdaq Stats June 28

5 Items on Our Radar Today: 

  1. The Commerce Department raised first-quarter GDP growth to 1.1%, slightly beating estimates of just a 1% improvement. The report also showed an unexpected increase in exports, though consumer spending was downwardly revised to its smallest uptick in two years. (MarketWatch)
  2. Volkswagen will spend up to $10 billion on automobile buy-backs and U.S. owner compensation -- the biggest civil settlement in the history of the industry -- as well as almost $5 billion in environmental reparations, to atone for its emissions scandal. (NPR)
  3. Amazon.com Inc. (NASDAQ:AMZN) bulls are dashing to the options pits, but how high can the e-tailer climb?
  4. Tesla Motors Inc (NASDAQ:TSLA) is still paying the price for its SolarCity Corp (NASDAQ:SCTY) bid.
  5. Why Pfizer Inc.'s (NYSE:PFE) sending $350 million overseas.

Corporate Earnings June 28

Unusual Options Activity June 28
Data courtesy of
Trade-Alert

Commodities:

August-dated oil gained 3.3%, or $1.52, to break its two-day streak of big-time losses, ending at $47.85 per barrel. Investors began to slowly creep back in to the post-"Brexit" oil market, encouraged by another anticipated drop in U.S. crude stockpiles, as well as by possible Norwegian oil field strikes.

August-dated gold broke its two-day win streak, dropping $6.80, or 0.5%, to end at $1,317.90 per ounce. The precious metal took a breather after the frenzy that followed the surprising "Brexit" vote, as investors took profits and bargain-shopped in the stock market.

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