Data, Oil Help Dow Jones Industrial Average End Cold Spell

2 Biotechs Swinging on Buyout Buzz

Aug 3, 2016 at 4:21 PM
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The Dow Jones Industrial Average (DJIA) ended a seesaw session higher, avoiding its longest losing streak in five years. Specifically, stocks reacted positively to a sharp jump in crude oil prices and an encouraging round of economic data. Most notably, the ADP's private-sector employment numbers were stronger than expected, sparking optimism ahead of Friday morning's nonfarm payrolls report -- which could go a long way toward determining when the Fed will raise interest rates.


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

The Dow Jones Industrial Average (DJIA - 18,355.00) picked up 41.2 points, or 0.2%. Nineteen of the 30 blue chips gained ground, paced by a 1.6% win at JPMorgan Chase & Co. (NYSE:JPM). Of the 11 losers, Pfizer Inc. (NYSE:PFE) fared the worst, dropping 2.2%.

The S&P 500 Index (SPX - 2,163.79) added 6.8 points, or 0.3%. Similarly, the Nasdaq Composite (COMP - 5,159.74) tacked on 22 points, or 0.4%.

The CBOE Volatility Index (VIX - 12.86) shed 0.5 point, or 3.8%, closing just above its 10-day moving average.

Indexes Closing Summary August 3

NYSE and Nasdaq Volume August 3

5 Items on Our Radar Today:

  1. Wal-Mart Stores, Inc.'s (NYSE:WMT) is doubling down in its efforts to keep up with Amazon.com, Inc. (NASDAQ:AMZN), with the big-box retailer reportedly in talks to acquire e-commerce upstart Jet.com. (The New York Times)
  2. The Federal Reserve has levied a more than $36 million civil penalty on Goldman Sachs Group Inc (NYSE:GS), faulting the financial juggernaut for disclosing confidential information without authorization. (Reuters)
  3. Ahead of earnings, why Zynga Inc (NASDAQ:ZNGA) is "attractive at current levels."
  4. How to use options to hedge your portfolio.
  5. Downbeat Kate Spade & Co (NYSE:KATE) earnings pressured these retail stocks lower.


Corporate Earnings August 3

Unusual Options Activity August 3
Data courtesy of
Trade-Alert

Commodities:

Oil bounced back above the $40 mark, as weekly data showing a sharper-than-forecast decline in gasoline stocks overshadowed an unexpected build in crude inventories. September-dated crude futures added $1.32, or 3.3%, to settle at $40.83 per barrel.

Gold pulled back from a two-year high, pressured by upbeat economic data and a stronger dollar. By the close, December-dated gold was down $7.90, or 0.6%, at $1,364.70 per ounce. 

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