S&P Nabs Record Close; Dow Jones Industrial Average Jumps

The Cybersecurity Stock Soaring On Buyout Buzz

by Josh Selway

Published on Jul 11, 2016 at 4:26 PM
Updated on Jun 24, 2020 at 10:16 AM

Encouraging election results out of Japan shot the Dow Jones Industrial Average (DJIA) higher at the open, and stocks didn't look back. In fact, the S&P 500 Index (SPX) closed at an all-time high, while the Dow hit a 12-month peak. The Nasdaq Composite (COMP), meanwhile, briefly explored territory north of the round-number 5,000 level for the first time this year amid a rally in tech stocks. Investors will now turn their attention to this evening's better-than-expected earnings report from Alcoa Inc (NYSE:AA), which marks the unofficial beginning of earnings season

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

The Dow Jones Industrial Average (DJIA - 18,226.93) finished with an 80.2-point, or 0.4%, gain, after notching a 12-month high of 18,283.90 earlier in the session. Boeing Co (NYSE:BA) paced the 27 advancers with its 1.5% pop, while UnitedHealth Group Inc (NYSE:UNH) led the three decliners with its 0.7% drop.

The S&P 500 Index (SPX - 2,137.16) added 7.3 points, or 0.3%, for its best close ever -- and hit an all-time intraday high of 2,143.16 earlier. The Nasdaq Composite (COMP - 4,988.64) ended 31.9 points, or 0.6%, higher. 

The CBOE Volatility Index (VIX – 13.54) managed a 0.3 point, or 2.6%, win, despite stocks' rally. 

Indexes closing summary July 11


NYSE and NASDAQ stats July 11



5 Items on Our Radar Today: 

  1. Britain's Interior Defense Minister Theresa May is set to become the country's next prime minister, after her only opponent dropped out of the race. Effective Wednesday, May will take over for David Cameron, who announced his resignation following the country's decision to leave the European Union (EU). (Reuters)
  2. Nintendo's newest app, "Pokemon Go," has been an instant success, quickly becoming the highest grossing and most downloaded app in the iPhone app store. Moreover, Japan-based Nintendo saw its stock rise by nearly 25% on Monday. (Forbes)
  3. Talk of a "Masterplan" helped boost Tesla Motors Inc (NASDAQ:TSLA). 
  4. What had GoPro Inc (NASDAQ:GPRO) sporting double-digit-percentage gains
  5. The biotech stock short sellers are fleeing from


Unusual Options Activity July 11

Data courtesy of
Trade-Alert

Commodities:

Oversupply concerns sank crude futures today. At the close, August-dated crude futures were down 65 cents, or 1.4%, at $44.76 per barrel -- a two-month low.

Gold futures also slumped, as traders' appetite for so-called "safe havens" dampened and the dollar gained ground. Gold for August delivery closed $1.80, 0.1%, lower at $1,356.60 per ounce. 

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