Dow Jones Industrial Average Gains; Nasdaq Stays Hot

Will This Stock Be the Next Biotech Buyout?

Aug 23, 2016 at 4:34 PM
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After jumping more than 100 points at the open, the Dow Jones Industrial Average (DJIA) pared its gains as the day went on, though the blue-chip index still managed its first win in three sessions. A round of upbeat housing data helped to get the bullish ball rolling, and stocks also reacted to a rally in crude oil futures, amid reports that Iran might participate in a crude production freeze. Elsewhere, the tech-rich Nasdaq Composite (COMP) managed yet another record high, but caution ahead of Fed Chair Janet Yellen's highly anticipated speech on Friday -- and lingering Fed talk -- brought stocks back down to earth.

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

The Dow Jones Industrial Average (DJIA - 18,547.30) snapped a two-day losing streak by gaining 17.9 points, or 0.1%. Eighteen of the 30 Dow components closed higher, led by Nike Inc's (NYSE:NKE) 1.6% gain. The biggest loser was Boeing Co (NYSE:BA), falling 0.6%. 

The S&P 500 Index (SPX - 2,186.90) picked up 4.3 points, or 0.2%. After hitting a record high, the Nasdaq Composite (COMP - 5,260.08) closed with a 15.5-point, or 0.3%, lead. 

The CBOE Volatility Index (VIX - 12.38) closed 0.1 point, or 0.9%, higher. 

Indexes closing summary August 23
NYSE and nasdaq stats august 23

5 Items on Our Radar Today:

  1. CNN has reported that the FBI and other law enforcement agencies are investigating a series of cyber attacks on a number of high-profile U.S. journalistsThe New York Times is mentioned by name as one of the publications affected by the breach, and it's believed Russian hackers are behind the attack. (CNN)
  2. Using Twitter to hype up the event, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk just announced new versions of the company's Model S and Model X vehicles. Both cars will be priced at well over $100,000. (CNBC)
  3. How this Chinese social media stock broke out to all-time highs
  4. The latest twist in the Monsanto Company's (NYSE:MON) M&A saga
  5. Why did UBS upgrade one of 2016's worst-performing stocks?

Quarterly earnings August 23

Unusual options activity August 23
Data courtesy of


Reports that Iran may be willing to participate in a production freeze had crude oil futures higher today, sparking optimism ahead of next month's Organization of the Petroleum Exporting Countries (OPEC) meeting. Crude dated for October delivery closed 69 cents, or $1.36, higher at $48.10 per barrel. 

Gold futures closed higher today, bolstered by a weaker dollar. By the close, December-dated gold futures rose $2.70, or 0.2%, to land at $1,346.10 an ounce. 

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