Dow Jones Industrial Average Dips; Nasdaq Logs Longest Win Streak Since 2010

The $1.2M Nike Bet; Plus, 2 Soaring Semiconductor Stocks

Aug 19, 2016 at 4:24 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) took a modest step back today, as stocks reacted negatively to mounting rate-hike expectations following Wednesday's Fed meeting minutes. Adding to the fears of liftoff was a speech last night from San Francisco Fed President John Williams, who said "it makes sense to get back to a pace of gradual rate increases, preferably sooner rather than later." All eyes will soon turn to Fed Chair Janet Yellen, slated to give a speech from Jackson Hole, Wyoming, on Friday. Meanwhile, though it was a lackluster day for stocks, the Nasdaq Composite (COMP) held on for an eighth consecutive weekly gain, its longest streak since April 2010.

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

The Dow Jones Industrial Average (DJIA - 18,552.57) dropped 45.1 points, or 0.2%, and gave back 0.1% on the week. NKE paced the 11 Dow winners, jumping roughly 3%. Of the 18 blue-chip losers, Wal-Mart Stores, Inc. (NASDAQ:WMT) was worst off, down 2%. Johnson & Johnson (NYSE:JNJ), meanwhile, was flat.

The S&P 500 Index (SPX - 2,183.87) dipped 3.2 points, or 0.1%, and finished the week fractionally lower. The Nasdaq Composite (COMP - 5,238.38) lost 1.8 points, or 0.03%, but held on for a 0.1% weekly advance.

The CBOE Volatility Index (VIX - 11.34) slipped 0.1 point, or 0.8%, for a third straight daily defeat. Relative to last Friday's close, the market's "fear gauge" finished on a 1.8% loss.

Closing Indexes Summary August 19

NYSE and Nasdaq Volume August 19

5 Items on Our Radar Today:

  1. Dozens of major tech companies -- such as Alphabet Inc (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL) -- are teaming up to combat "robocalls." Calling themselves the "Robocall Strike Force," the group hopes to develop caller ID verification standards that will block the automated telephone calls, which generally come from telemarketers and scammers. (Reuters)
  2. Financial giant Morgan Stanley (NYSE:MS) has been accused of mismanaging its 401(k) plan, resulting in "hundreds of millions of dollars" in losses. According to the lawsuit, MS promoted business interests over those of plan participants by offering its own funds rather than alternatives that performed better. (The New York Times)
  3. Goldman Sachs and call buyers alike love this retail stock.
  4. Are this drugmaker's expectations for a second-half recovery "overly optimistic"?
  5. It looks like Viacom, Inc.'s (NASDAQ:VIAB) boardroom drama may finally be over.

Corporate Earnings August 19
Unusual Options Activity August 19
Data courtesy of


Oil prices shrugged off an eighth consecutive weekly build in operational U.S. rigs, amid persistent hopes that the Organization of the Petroleum Exporting Countries (OPEC) will take action to curb production at next month's meeting. At the close, September-dated crude futures were up 30 cents, or 0.6%, at $48.52 per barrel -- marking a seventh consecutive daily win. On a weekly basis, liquid gold soared 9.1%, its best week in over five months.

Gold retreated as traders exercised caution, following a week of mixed signals regarding the timing of the next Fed rate hike -- and ahead of next week's speech by Fed Chair Janet Yellen. At day's end, gold for December delivery was down $11, or 0.8%, at $1,346.20 per ounce. On the week, however, the malleable metal picked up 0.2%.

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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI