Dow Jones Industrial Average, S&P Jump Most Since March on Clinton Relief Rally

20 Stocks to Watch If Trump Wins

Nov 7, 2016 at 4:22 PM
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A day ahead of the U.S. presidential election, the Dow Jones Industrial Average (DJIA) jumped at the open and never looked back -- cruising to a triple-digit victory, and snapping its seven-session losing streak. The same was true for the S&P 500 Index (SPX) and Nasdaq Composite (COMP) -- which had each suffered nine consecutive losses -- as stocks surged after the FBI once again said presidential candidate Hillary Clinton will not face criminal charges for her use of an unsecured email server. In fact, all three major stock market benchmarks posted their biggest one-day percentage gains since March 1. On the other hand, the political relief rally whacked the CBOE Volatility Index (VIX), which snapped its record nine-day hot streak.

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

The Dow Jones Industrial Average (DJIA - 18,259.60) shot 371.3 points, or 2.1%, higher, taking back the 18,000 millennium level in the process. All 30 Dow stocks ended higher, led by 3.2% jumps at Intel Corporation (NASDAQ:INTC) and Goldman Sachs Group Inc (NYSE:GS).

The S&P 500 Index (SPX - 2,131.52) popped 46.3 points, or 2.2%, while the Nasdaq Composite (COMP - 5,166.17) bested its peers, up 119.8 points, or 2.4%.

The CBOE Volatility Index (VIX - 18.71) tumbled 3.8 points, or 16.9%, for its first close south of 19 in four days.

Indexes closing summary November 7
NYSE and NASDAQ stats November 7

5 Items on Our Radar Today

  1. The U.K.'s data protection authority announced Facebook Inc (NASDAQ:FB) has agreed not to use data from its WhatsApp messaging app for ads and product improvement efforts. The British privacy watchdog added FB could face "enforcement action" if it fails to comply. (Reuters)
  2. Shares of Southwest Airlines Co (NYSE:LUV) took off after the company's pilots union approved a new collective bargaining agreement, which includes a nearly 30% pay raise. Roughly 84% of voters cast ballots in favor of the contract. (Dallas News)
  3. Three stocks that could climb on a Clinton win.
  4. Weekly options have been heating up on these e-tail rivals.
  5. Will this gold ETF get its luster back?

Quarterly Earnings November 7

Unusual Options Activity November 7
Data courtesy of Trade-Alert

Commodities:

Crude oil brought its six-session losing streak to a halt amid a broader rally in stocks and commodities -- a day after a Cushing, Oklahoma, delivery hub was hit with a 5.0 magnitude earthquake. Specifically, December-dated crude added 82 cents, or 1.9%, to settle at $44.89 per barrel.

Gold fell today after the FBI said it wouldn't bring criminal charges against Clinton, sparking a relief rally for stocks, but weighing on safe havens. Specifically, gold for December delivery shaved off $25.10, or 1.9%, at $1,279.40 per ounce -- its heftiest one-day percentage loss in five weeks.

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