Dow Jones Industrial Average Rebounds For First Win of 4Q

This Gold ETF Could Be Flashing a 'Buy' Signal

Oct 5, 2016 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) added triple digits, ending in the black for the first time this quarter. A jump in the monthly Institute for Supply Management (ISM) non-manufacturing index pushed stocks higher, as did a better-than-expected factory orders report, both of which helped offset disappointing private-sector jobs data ahead of Friday's closely watched payrolls report. The solid data also fueled rate-hike chatter, helping financial stocks lead the pack higher. Energy stocks also flexed some muscle, encouraged by a three-month high in crude oil prices. 

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

The Dow Jones Industrial Average (DJIA 18,281.03) gained 112.6 points, or 0.6%. Goldman Sachs Group Inc (NYSE:GS) led the 21 Dow winners, finishing up 2.5%, while Home Depot Inc (NYSE:HD) brought up the rear among the eight Dow losers, down 0.5%. General Electric Company (NYSE:GE) finished flat.

The S&P 500 Index (SPX - 2,159.73) ended the day up 9.2 points, or 0.4%, while the Nasdaq Composite (COMP - 5,316.02) followed suit, gaining 26.4 points, or 0.5%.

The CBOE Volatility Index (VIX - 12.99) fell 0.6 point, or 4.7%.

Indexes Closing Summary October 5
NYSE and Nasdaq Stats October 5

5 Items on Our Radar Today

  1. The U.S. Supreme Court began hearing its first insider trading case in two decades today. The case will examine whether prosecutors in such cases need to prove tangible benefits were received in exchange for the insider trading information, or if simply supplying the information regardless of personal benefit is enough for conviction. (Fortune)
  2. The ISM services index hit an 11-month high of 57.1 in September, marking its largest monthly gain since 1997. Just last month, the index hit a six-year low of 51.4. (Bloomberg)
  3. The $400 million McDonald's Corporation (NYSE:MCD) franchise chatter.
  4. Lululemon Athletica inc. (NASDAQ:LULU) call buyers reacted to rumors the apparel maker could go private.
  5. The speculation that caused Weight Watchers International, Inc. (NYSE:WTW) to balloon.

Corporate Earnings October 5
Unusual Options Volume October 5
Data courtesy of Trade-Alert

Commodities:

November-dated crude gained $1.14, or 2.3%, to end the day at $49.83 per barrel. A fifth straight weekly drop in domestic crude inventories boosted black gold, which touched its highest mark since June.

Gold shrugged off a weakening dollar to finish lower for the fourth day in a row, as a rally in stocks dimmed the metal's "safe haven" allure. December-dated gold ended the session at $1,268.60 per ounce, a decrease of $1.10, or 0.1%.

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