Data, Oil Help Dow Jones Industrial Average End Cold Spell

2 Biotechs Swinging on Buyout Buzz

Aug 3, 2016 at 4:21 PM
facebook X logo linkedin


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. 

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