Dow Jones Industrial Average Ends Banner Week With New High

2 Stocks That Tripled; Plus, Yahoo's Momentous Monday

Jul 15, 2016 at 4:28 PM
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The Dow Jones Industrial Average's (DJIA) monster week ended with a sixth straight daily win, amid a raft of strong economic data and upbeat earnings. While the Dow notched a new record closing high, the broader S&P 500 Index (SPX) couldn't maintain its earlier momentum -- closing at a loss after hitting a fresh intraday high this morning. Nevertheless, both the Dow and the S&P racked up a third consecutive week of gains. Stocks also spent much of the day digesting the terrorist attack in Nice, France, which left over 80 dead and weighed on travel shares.

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

The Dow Jones Industrial Average (DJIA - 18,516.55) hit an intraday record high of 18,557.43, and settled on a gain of 10.1 points, or 0.05%. Half of the Dow's 30 stocks closed with a gain, and in the lead were Caterpillar Inc. (NYSE:CAT) and General Electric Company (NYSE:GE), both up 0.8%. Nike Inc (NYSE:NKE) paced the 14 blue-chip losers, sliding 1.1%, while Verizon Communications Inc. (NYSE:VZ) was unchanged. On a weekly basis, the Dow advanced 2%.

The S&P 500 Index (SPX - 2,161.74) edged 2 points, or 0.1%, lower, but notched an all-time best of 2,169.05 and gained 1.5% on the week. The Nasdaq Composite (COMP - 5,029.59) settled on a loss of 4.5 points, or 0.1%, but picked up 1.5% for the week.

The CBOE Volatility Index (VIX - 12.67) shed 0.2 point, or 1.2%, for its lowest weekly close in nearly a year. Since last Friday's settlement, the market's "fear gauge" dropped 4%.

Indexes closing summary July 15

NYSE and NASDAQ stats July 15


5 Items on Our Radar Today: 

  1. Industrial production rose a bigger-than-expected 0.6% last month -- the biggest gain since July 2015 -- driven by a 5.9% jump in automotive products output. Retail sales also popped in June, notching their third consecutive monthly build. (Reuters, via CNBC; MarketWatch)
  2. According to the preliminary Thomson Reuters/University of Michigan consumer sentiment survey, the U.K.'s vote to exit the European Union (EU) has shaken investor confidence. Specifically, the index dropped 4 points to a three-month low of 89.5, while the consensus view predicted no change. (Bloomberg)
  3. Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk went to bat for "Autopilot" technology.
  4. Why this quiet outperformer has room to run even higher.
  5. The red-hot stock on which Carl Icahn and Bill Ackman "agreed to disagree."


Quarterly Earnings July 15

Unusual Options Activity July 15
Data courtesy of
Trade-Alert

Commodities:

Crude oil rose as solid data out of the U.S. and China fueled hopes for increased energy demand. Specifically, August-dated crude futures tacked on 27 cents, or 0.6%, to end at $45.95 per barrel -- bringing liquid gold's weekly advance to 1.2%.

On the other hand, gold dropped on the aforementioned data, as the commodity locked in its first weekly loss in roughly two months. Gold for August delivery slipped $4.80, or 0.4%, to land at $1,327.40 per ounce. Relative to last Friday's close, the malleable metal shed 2.3% -- its first weekly loss in nearly two months.

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