Dow Jones Industrial Average, Nasdaq Soar on Tech

3 Tech Stocks Tearing Up the Charts

Sep 15, 2016 at 4:18 PM
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The Dow Jones Industrial Average (DJIA) spent nearly the entire day in the black, muscling to a triple-digit gain. Leading the Dow higher was Apple Inc. (NASDAQ:AAPL) amid a broader rally in tech stocks -- which also helped the Nasdaq Composite (COMP) reclaim the 5,200 level for the first time in a week. Meanwhile, traders digested a modest rebound in crude oil prices and a raft of mostly disappointing economic reports, which further reduced expectations for a rate hike out of next week's highly anticipated Fed meeting.

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

The Dow Jones Industrial Average (DJIA - 18,212.48) zoomed 177.7 points, or 1%, higher, with all 30 blue-chip stocks ending positive. The top Dow performer was AAPL, which tacked on 3.4%.

The S&P 500 Index (SPX - 2,147.26) gained 21.5 points, or 1%. Besting its peers, the Nasdaq Composite (COMP - 5,249.69) jumped 75.9 points, or 1.5%.

The CBOE Volatility Index (VIX - 16.30) tanked 1.8 points, or 10.1%, giving up a short-lived perch atop its 200-day moving average.

Indexes closing summary September 15

NYSE and NASDAQ stats September 15

5 Items on Our Radar Today:

  1. According to the Fed, industrial production dropped a sharper-than-forecast 0.4% last month. In other economic news, the Labor Department said producer prices were unexpectedly flat in August, kept in check by weak oil prices and a stronger dollar. (Reuters, via CNBC)
  2. Democratic presidential hopeful Hillary Clinton resumed campaigning today after a bout of pneumonia. Meanwhile, speaking to the Economic Club of New York, Republican presidential candidate Donald Trump said his economic plan could result in 3.5% annual GDP growth, reaching levels not seen since 2004. (Chicago Tribune; MarketWatch)
  3. Canaccord Genuity waxed optimistic on this oil driller's "rock solid" balance sheet.
  4. A rally to four-month highs set the LendingClub Corp (NYSE:LC) options pits ablaze.
  5. Can things get any worse for this scandal-plagued banking giant?

Unusual Options Activity September 15
Data courtesy of Trade-Alert

Commodities:

Oil recovered after a couple of rocky sessions, following gasoline futures and the broader stock market higher. Specifically, October-dated crude futures added 33 cents, or 0.8%, to settle at $43.91 per barrel. Gasoline for October delivery, meanwhile, rallied 5.1% to $1.43 per gallon, amid reports of a disruption in BP production and a leak at the Colonial Pipeline.

Gold finished lower as traders opted for riskier assets, marking the metal's sixth loss in the past seven sessions. Gold for December delivery lost $8.10, or 0.6%, to close at $1,318 per ounce.

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