Dow Jones Industrial Average, S&P Hit New Highs; Oil Tanks

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

• What this rare options signal could mean for the SPDR S&P 500 ETF Trust (SPY).
• Could Facebook Inc (NASDAQ:FB) be "the ultimate Pokemon loser"?
• A closer look at the catalysts that drove this medical device stock to a nearly 40% loss.
• Plus... A potential Trump VP, more on the Fed's Beige Book, and a big bullish bet on oil.
  

The Dow Jones Industrial Average (DJIA - 18,372.12) raced to a record 18,390.16 early on, but finished on a modest 24.5-point, or 0.1%, gain -- still, its fourth consecutive daily win. Eighteen blue-chip stocks trekked higher, led by UnitedHealth Group Inc's (NYSE:UNH) 1.2% advance. On the flip side, Home Depot Inc (NYSE:HD) paced the 12 decliners, sliding 0.9%.

The S&P 500 Index (SPX - 2,152.43) also made it four straight, eking out a 0.3-point victory, after earlier topping out at a record 2,156.45. The Nasdaq Composite (COMP - 5,005.73) broke from the pack, dropping 17.1 points, or 0.3%.

The CBOE Volatility Index (VIX - 13.04) dropped 0.5 point, or 3.8%, for its lowest close since May 27.

5 Items on Our Radar Today: 

1. Indiana Governor Mike Pence -- best known for passing the controversial Religious Freedom Restoration Act (RFRA) last year -- met with Republican presidential nominee Donald Trump today, leading many to speculate he could be the real estate mogul's running mate. Trump confirmed that Pence is on his short-list -- calling him "amazing" -- but said he's still considering others. (FOX News)
2. According to the Fed's Beige Book, economic activity expanded at a "modest" rate in most of the central bank's 12 districts. The report also noted that consumer spending "was generally positive but with some signs of softening." (USA Today)
3. Buyout buzz shook up Shake Shack Inc's (NYSE:SHAK) options pits.
4. One pre-earnings trader placed a big bearish bet on Paypal Holdings Inc (NASDAQ:PYPL).
5. Crude oil took a tumble, but this options speculator kept the faith with a $1.4 million wager.

Data courtesy of Trade-Alert

Commodities:

Crude oil tanked after U.S. inventories fell less than expected, according to the Energy Information Administration (EIA). Additionally, the International Energy Agency (IEA) warned of ebbing global demand and signs that "momentum is easing." At the close, August-dated crude futures were down $2.05, or 4.4%, at $44.75 per barrel.

Gold futures rose for the first session in five, as the stock market's momentum slowed and stimulus hopes mounted. Specifically, gold for August delivery added $8.30, or 0.6%, to settle at $1,343.60 per ounce.