Dow Jones Industrial Average Notches Fourth Straight Win

The 25 Worst Stocks for July; Plus, Harley's Huge Day

Jul 1, 2016 at 4:24 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) spent most of the day modestly higher, briefly touching the round-number 18,000 level before paring its lead. Despite relatively light volume ahead of the long holiday weekend, stocks notched their fourth straight day of gains, with help from encouraging manufacturing data and June auto sales. Against this backdrop, the Dow and S&P 500 Index (SPX) recovered nearly all of their post-"Brexit" losses to wrap up their best week of 2016. 

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

The Dow Jones Industrial Average (DJIA - 17,949.37) gained 19.4 points, or 0.1%, for its fourth day of gains. Home Depot Inc (NYSE:DD) ended up 1.5%, the most of the 17 Dow winners, while DuPont (NYSE:DD) shed 0.7% to bring up the rear among the 13 Dow losers. For the week, the Dow increased 3.2%, its largest weekly gain since November.

The S&P 500 Index (SPX - 2,102.95) managed to close above the key 2,100 level, gaining 4.1 points, or 0.2%, for the day, and finishing the week up 3.2% -- also enjoying its largest weekly gain since November. The Nasdaq Composite (COMP - 4,862.57) jumped 19.9 points, or 0.4%. For the week, the COMP ended up 3.3%.

The CBOE Volatility Index (VIX – 14.77) slid 0.9 point, or 5.5%. Week-over-week, the VIX dropped a whopping 42.6%.

Indexes closing summary July 1

NYSE and NASDAQ stats July 1

5 Items on Our Radar Today: 

  1. Cleveland Fed President Loretta Mester made some hawkish comments at a speech in London, saying that waiting too long for an interest rate hike could jeopardize financial stability. Mester seemed confident in continued U.S. economic growth, and said an interest rate hike in the near future could be beneficial, although she did not lay out a timetable. (CNBC) 
  2. The Institute for Supply Management's (ISM) manufacturing index jumped to its highest level since February 2015, for its fourth straight month of growth. ​(MarketWatch)
  3. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) puts flew off the shelves after the company called it quits on a licensing agreement.
  4. Monster Beverage Corporation (NASDAQ:MNST) shares keep surging, but skeptics aren't buying the hype.
  5. Why one analyst thinks SolarCity Corp (NASDAQ:SCTY) is "grossly undervalued."

Quarterly Earnings July 1

Unusual Options Activity July 1
Data courtesy of
Trade-Alert

Commodities:

August-dated crude oil added 66 cents, or 1.4%, to end the day at $48.99 per barrel. A falling dollar boosted oil prices, but a bump in the Baker-Hughes oil rig count kept prices in check. For the week, oil prices gained 2.8%. Meanwhile, natural gas for August delivery surged to $2.987 per million British thermal units, marking a new annual high.

August-dated gold was up $18.40, or 0.1%, to $1,339.00 per ounce -- a near two-year high. A falling dollar and some hawkish Fed comments boosted the precious metal. For the week, gold gained 1.3%. Silver for September delivery, meanwhile, enjoyed its best week in nearly three years, rallying 10.1% to $19.59 an ounce.

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