Data Surprises Rock Dow Jones Industrial Average Ahead of Payrolls

2 Oil Stocks Set for a Brutal September

Sep 1, 2016 at 4:25 PM
facebook X logo linkedin


It was an up-and-down day for the Dow Jones Industrial Average (DJIA), as traders reacted to a mixed bag of economic data ahead of tomorrow's all-important nonfarm payrolls report. Stocks got an early boost from a better-than-expected update on weekly jobless claims, but a surprisingly bad Institute for Supply Management (ISM) manufacturing index reading sent shock waves across the Street. Nonetheless, a last-second surge helped the Dow avoid a third straight loss, even as oil prices continued to fall. 

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

The Dow Jones Industrial Average (DJIA - 18,419.30) added 18.4 points, or 0.1%, thanks to a strong final hour. Of the Dow's 30 components, 16 closed higher, led by Wal-Mart Stores, Inc.'s (NYSE:WMT) 2% pop. The biggest loser was American Express Company (NYSE:AXP), down 1.1%. 

The S&P 500 Index (SPX - 2,170.86) wasn't so resilient, closing fractionally lower. The Nasdaq Composite (COMP - 5,226.76) added 13.5 points, or 0.3%.

The CBOE Volatility Index (VIX - 13.48) managed a 0.06-point, or 0.5%, advance. 

indexes closing summary september 1
nyse and nasdaq stats september 1

5 Items on Our Radar Today:

  1. Just two days after landing its first customer for its recyclable rockets, Elon Musk's SpaceX had a Falcon 9 rocket explode today. No one was injured in the accident, which is still being investigated. (Reuters)
  2. Mosquitoes carrying the Zika virus have been detected in the U.S. for the first time. The Florida Department of Agriculture and Consumer Services announced the discovery was in Miami, Florida -- an area already affiliated with the disease. (CNN)
  3. The news that had this medical device stock dancing with 10-year highs
  4. Are FireEye Inc (NASDAQ:FEYE) bears buying insurance
  5. How option traders reacted to Intel Corporation's (NASDAQ:INTC) new high

quarterly earnings september 1
unusual options activity september 1
Data courtesy of Trade-Alert

Commodities:

Oil prices fell for the fourth straight session, as oversupply concerns continue to weigh. October-dated crude futures ended down $1.54, or 3.5%, at $43.16 per barrel. 

Gold futures, on the other hand, moved higher as the dollar retreated. Gold for December delivery finished up $5.70, or 0.4%, at $1,317.10 an 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