MMR

Nasdaq, S&P, Dow Jones Industrial Average Close at Record Highs

10 Stocks to Watch After the Best Nasdaq Rally Since 2009

Aug 15, 2016 at 4:31 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) held fairly steady after bounding to a fresh all-time high in the morning. In fact, the DJIA, S&P 500 Index (SPX), and Nasdaq Composting (COMP) each held enough momentum to not only tap intraday highs, but also end the day at record closing highs. A sustained rally in crude oil helped keep stocks floating higher amid relatively low trading volumes, with investors hoping for price stabilization methods out of major producers in the not-too-distant future. 


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

The Dow Jones Industrial Average (DJIA - 18,636.05) added 59.6 points, or 0.3%. DuPont (NYSE:DD) led 19 of the 30 components higher, while UnitedHealth Group Inc (NYSE:UNH) paced 10 laggards, and General Electric Company (NYSE:GE) closed flat.

The S&P 500 Index (SPX - 2,190.15) climbed 6.1 points, or 0.3%, while the Nasdaq Composite (COMP - 5,262.02) gained 29.1 points, or 0.6%.

The CBOE Volatility Index (VIX - 11.81) added 0.3 point, or 2.3%. 

indexes closing summary august 15
nyse and nasdaq stats august 15

5 Items on Our Radar Today:

  1. Ahead of Wednesday's highly anticipated Fed meeting minutes, San Francisco Federal Reserve President John Williams today suggested that the central bank should consider raising its current target for inflation. Williams also noted that the Fed may need to turn to new policies, while also saying there are "limits to what monetary policy can and indeed, should do.” (MarketWatch)
  2. In a first for the traffic industry, carmaker Audi -- owned by Volkswagen -- is reported developing new technology that will allow cars to communicate directly with traffic signals for select models that will use its vehicle-to-infrastructure (V-to-I) system. At a time when certain assisted-driving features are coming under fire, a company official noted the technology is "designed not as a safety feature but a comfort and convenience feature." (Reuters)
  3. The chatter that sent Fitbit Inc (NYSE:FIT) stock soaring -- and drew call players to the options pits.
  4. Why options buyers should consider Facebook Inc (NASDAQ:FB).
  5. The drug news that led this biotech stock to drop half its value.


quarterly earnings august 15

unusual options activity august 15
Data courtesy of
Trade-Alert

Commodities:

Oil prices extended their rally by another day, thanks to speculation that Russia, along with other major oil producers, may be ready to implement price-stabilization measures. In addition, the Energy Information Administration (EIA) predicted a decline in U.S. shale oil output in September. Crude oil for September delivery finished the day up $1.25, or 2.8%, at $45.74 per barrel -- a one-month high.

Gold also closed higher as the strength of the dollar waned. With traders looking ahead to the release of minutes from the July Federal Open Market Committee (FOMC) meeting, December-dated gold settled up $4.30, or 0.3%, at $1,347.50 an ounce.

Stay on top of overnight news & big morning movers. Sign up now for Schaeffer's Opening View.
 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
 (ad)