Dow Jones Industrial Average Scores Triple-Digit Win

Why This Zika Stock Has Huge Upside Potential

Aug 29, 2016 at 4:27 PM
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The Dow Jones Industrial Average (DJIA) enjoyed a triple-digit lead throughout the day, as upbeat economic data provided a boon for stocks. Most notably, consumer spending rose for a fourth straight month in July, while the closely watched core personal consumption expenditures (PCE) index -- a Fed-favorite inflation gauge -- also ticked higher. The data breathed fresh life into recent rate-hike speculation, pushing the dollar -- and financial stocks -- higher.

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

The Dow Jones Industrial Average (DJIA - 18,502.99) closed with a gain of 107.6 points, or 0.6%. Twenty-seven of 30 Dow components finished higher, with four stocks -- including finance heavyweights JPMorgan Chase & Co. (NYSE:JPM) and American Express Company (NYSE:AXP) -- finishing with gains of 1.1% to lead the way. Nike Inc (NYSE:NKE) was the biggest loser, falling 0.6%. 

The S&P 500 Index (SPX - 2,180.38) picked up 11.3 points, or 0.5%. The Nasdaq Composite (COMP - 5,232.33) also closed higher, adding 13.4 points, or 0.3%. 

The CBOE Volatility Index (VIX - 12.94) shed 0.7 point, or 5.2%, to close below 13 for the first time in four sessions. 

indexes closing summary august 29
nyse and nasdaq stats august 29

5 Items on Our Radar Today:

  1. Less than two weeks after announcing T-Mobile One, an unlimited data plan, T-Mobile US Inc (NASDAQ:TMUS) is already making changes. The telecom company revealed that there will be another option, called One Plus, that allows customers to stream unlimited HD video for an extra $25 per line. (USA Today)
  2. The FBI is investigating an apparent cyber attack on election systems in Illinois and Arizona. A database containing information on roughly 200,000 voters was breached in Illinois, while the Arizona attack was less severe. (Yahoo! News)
  3. Why this blue-chip stock could struggle in the near term
  4. The rumors that had Take-Two Interactive Software, Inc. (NASDAQ:TTWO) options volume near annual highs
  5. Two retailers that could make big post-earnings moves tomorrow

unusual options activity august 29
Data courtesy of Trade-Alert


Crude oil futures fell today, due to a stronger dollar. In addition, worries about a growing supply glut weighed on oil, with Iraq on Saturday vowing to keep ramping up output. At the close, October-dated crude was down 66 cents, or 1.4%, at $46.98 per barrel. 

Despite the strengthening dollar and ongoing Fed speculation, gold prices edged higher today. Gold dated for December closed $1.20, or 0.1%, higher at $1,327.10 per ounce. 

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