Upbeat Earnings Lift Dow Jones Industrial Average

The Oil Signal Not Seen Since 2013

Oct 18, 2016 at 4:24 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) spent the day in the black, helped by a number of strong earnings reports, including wins for blue-chip stocks UnitedHealth Group Inc (NYSE:UNH) and Goldman Sachs Group Inc (NYSE:GS). On the economic data front, the consumer price index (CPI) rose by 0.3% in September, in line with economists' inflation expectations. On a year-over-year basis, the CPI rose 1.5%, marking the biggest gain since 2014, and fueling expectations for a 2016 rate hike from the Fed.  

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

The Dow Jones Industrial Average (DJIA - 18,161.94) ended the day up 75.5 points, or 0.4%. Leading the 21 winners was UnitedHealth Group Inc (NYSE:UNH), with a gain of 6.9%. Meanwhile, the nine Dow losers were led by International Business Machines Corp. (NYSE:IBM), which lost 2.6% after earnings.

The S&P 500 Index (SPX - 2,139.60) also managed a win, gaining 13.1 points, or 0.6%, for the session. The Nasdaq Composite (COMP - 5,246.30) outperformed its peers, advancing 44 points, or 0.9%.

The CBOE Volatility Index (VIX - 15.28) lost 0.9 point, or 5.7%.

Closing Indexes Summary October 18
NYSe and Nasdaq Stats October 18
 

5 Items on Our Radar Today

  1. Harley-Davidson Inc (NYSE:HOG) rallied 8.9%, after the company reported earnings and said its Milwaukee-Eight engine bolstered U.S. sales. In addition, the motorcycle maker said it would be taking further measures -- namely, layoffs -- to cut costs. (Bloomberg)
  2.  A U.S. federal judge indicated that he will likely approve a $15 billion settlement for Volkswagen Group. The settlement, which would give owners of cars affected by Volkswagen emissions doctoring, will receive an official ruling by Friday, Oct. 25. (USA Today)
  3. Tesla Motors Inc (NASDAQ:TSLA) revved up ahead of tomorrow's mystery event.
  4. One blue-chip stock hit by analysts after reporting its 18th quarter of revenue decline.
  5. The travel stock that rallied nearly 50%.

Corporate Earnings October 18
Unusual Options Activity October 18
Data courtesy of Trade-Alert

Commodities:

November-dated crude futures gained 0.7%, or 35 cents, to end the day back above the $50 level, at $50.29 per barrel. Optimistic comments about a global production cut from an Organization of the Petroleum Exporting Countries (OPEC) official helped boost black gold.

December-dated gold futures gained $6.30, or 0.5%, to close at $1,262.90 an ounce. A weaker dollar lifted the precious metal.

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