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

25 Possible Post-'Brexit' Bargains

Jun 28, 2016 at 4:26 PM
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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. 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


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.

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