Dow Jones Industrial Average Stays Hot; 'FANG' Lifts Nasdaq

Is This Dollar Signal a Disaster For Stocks?

Alex Eppstein
Nov 15, 2016 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) recovered from an intraday deficit to secure a seventh consecutive daily win -- and fresh record closing high -- as stocks reacted to a number of drivers, including generally upbeat economic reports and hawkish talk out of the Fed. Meanwhile, the Nasdaq Composite (COMP) finally outperformed as "FANG" stocks got some love. It was a solid day on the commodity front, too, as crude oil prices popped on production cut speculation, and gold snapped its losing streak.

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

The Dow Jones Industrial Average (DJIA - 18,923.06) muscled 54.4 points, or 0.3%, higher, to notch its third seven-session winning streak of 2016. Nineteen of 30 Dow stocks settled in the green, led by Verizon Communications Inc.'s (NYSE:VZ) 2.6% advance. Of the 11 losers, Home Depot Inc (NYSE:HD) was the worst off, diving 2.6% post-earnings.

The S&P 500 Index (SPX - 2,180.39) edged 16.2 points, or 0.8%, higher, while the Nasdaq Composite (COMP - 5,275.62) outperformed, adding 57.2 points, or 1.1%.

The CBOE Volatility Index (VIX - 13.37) lost 1.1 points, or 7.7%, for its lowest settlement since Oct. 24.

Closing indexes summary November 15

NYSE and Nasdaq stats November 15

5 Items on Our Radar Today

  1. Fed Vice Chair Stanley Fischer said he isn't worried about a lack of liquidity in U.S. markets, even though regulatory changes could contribute to more frequent "flash events." At the same time, he warned, "the potential for liquidity to evaporate in times of stress deserves careful scrutiny -- along with broader risks to financial stability associated with changes in markets." (MarketWatch)
  2. According to Reuters, at least four major Wells Fargo & Co (NYSE:WFC) shareholders would like to see the board of directors make more sweeping changes to the bank's operations, following a retail sales scandal. (Reuters)
  3. How Warren Buffett sent this trio of airline stocks soaring.
  4. One options trader is setting her sights higher on Bank of America Corp (NYSE:BAC).
  5. Carl Icahn threw in the towel on an outperforming energy stock.

Corporate earnings November 15

Unusual Options Activity November 15
Data courtesy of Trade-Alert

Commodities:

Crude cruised higher today, after a source said Saudi Arabia's energy minister is headed to Doha, Qatar, for meetings with leading oil producers -- stoking optimism the Organization of the Petroleum Exporting Countries (OPEC) will agree to curb output later this month. At the close, December-dated crude was up $2.49, or 5.8%, at $45.81 per barrel -- the commodity's largest intraday gain in seven months.

Gold ended its six-day losing streak as uncertainty over the shape of President-elect Trump's economic policies triggered "safe haven" demand. At the close, gold for December delivery had added $2.80, or 0.2%, at $1,224.50 per ounce.

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