Dow Jones Industrial Average Scores Record Close; Nasdaq Slumps

40 Stocks to Watch this Window-Dressing Season

Dec 1, 2016 at 4:25 PM
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The Dow Jones Industrial Average (DJIA) traded above breakeven throughout the day to close at all-time high, as oil prices continued to gain after yesterday's major oil agreement and bank stocks soared. However, the Nasdaq Composite (COMP) underperformed yet again -- as did the S&P 500 Index (SPX) -- amid a broader sell-off in tech stocks. Traders also digested a busy slate of economic data that included a larger-than-expected uptick in weekly jobless claims, on top of the latest chatter from regional Fed presidents, ahead of tomorrow's highly anticipated nonfarm payrolls report. 

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

The Dow Jones Industrial Average (DJIA - 19,191.93) picked up 68.4 points, or 0.4%, for its highest close ever. Half of the Dow's 30 components closed higher, led by a 3.3% surge from Goldman Sachs Group Inc (NYSE:GS). Intel Corporation (NASDAQ:INTC) paced the 15 losers with its 2.7% decline. 

The S&P 500 Index (SPX - 2,191.08) stumbled 7.7 points, or 0.4%. Meanwhile, the Nasdaq Composite (COMP - 5,251.11) took a 72.6-point, or 1.4%, fall for its lowest close since Nov. 14.

The CBOE Volatility Index (VIX - 14.07) picked up 0.7 point, or 5.6%. 

Indexes closing summary December 1
NYSE and Nasdaq stats December 1

5 Items on Our Radar Today

  1. Shares of General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) rallied today, after the automakers revealed November sales that blew past estimates. Black Friday deals provided a boost for GM and F, which posted monthly sales increases of 10.2% and 5.2%, respectively. (USA Today)
  2. A team of researchers from the United States and Europe have found a link between bacteria found in the gut and Parkinson's disease. The findings could point to a new way to prevent and treat the brain disorder. (CNBC)
  3. How put volume has hit extreme levels on GoPro Inc (NASDAQ:GPRO).
  4. Bank of America Corp (NYSE:BAC) broke out to a fresh eight-year peak, but options traders think higher highs are ahead.
  5. Amazon.com, Inc. (NASDAQ:AMZN) has pulled back to a historically bullish trendline.

Quarterly earnings December 1

Unusual options activity December 1
Data courtesy of Trade-Alert

Commodities:

Crude oil futures started December on a strong note, with the January-dated contract gaining $1.62, or 3.3%, to settle at $51.06 per barrel -- crude's best close since Oct. 19. 

Gold, meanwhile, began the month on a negative note, as the U.S. dollar fluctuated. By the close, February-dated gold dropped $4.50, or 0.1%, to finish at $1,169.40 per ounce. 

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