Dow Jones Industrial Average Down for Second Straight Day

A $2.9 Million Bond Bet; Plus, 2 Tech Stocks Ripe for a Short Squeeze

Dec 22, 2016 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) edged lower for a second straight day, as the rally toward Dow 20,000 continued to stall in the run-up to the long Christmas weekend. A mixed batch of economic data did little to boost investor sentiment, while retail stocks pressured the S&P 500 Index (SPX), and the Nasdaq Composite (COMP) declined, as well. Despite the losses -- and with another low-volume day of trading expected tomorrow -- the Dow remains on pace to extend its weekly win streak to seven. 
 
Continue reading for more on today's market, including:
 

The Dow Jones Industrial Average (DJIA - 19,918.88) dipped 23.1 points, or 0.1%. Thirteen of 30 Dow components closed higher, led by Verizon Communications Inc. (NYSE:VZ), which added 1.3%. The biggest loser was Wal-Mart Stores, Inc. (NYSE:WMT), falling 2.3%. 

The S&P 500 Index (SPX - 2,260.96) gave back 4.2 points, or 0.2%. The Nasdaq Composite (COMP - 5,442.91) also closed lower, falling 28.5 points, or 0.5%. 

The CBOE Volatility Index (VIX - 11.43) bounced from yesterday's lows to add 0.2 point, or 1.4%. 

Indexes closing summary december 22
Nyse and Nasdaq December 22

5 Items on Our Radar Today

  1. The Islamic State has reportedly posted a list of places -- including churches and public markets -- for its followers to target this holiday season. Law enforcement agencies in major cities like New York and Chicago have increased security measures as a result. (USA Today)
  2. Aerospace company Airbus Group has signed an agreement to sell 100 jets to IranAir. The deal echoes a similar one made with Boeing Co (NYSE:BA) yesterday, with deliveries expected to begin early next year. (Reuters)
  3. How takeover talk boosted GoPro Inc (NASDAQ:GPRO) call volume. 
  4. The software stock that plunged post-earnings.
  5. Breaking down our winning options trade on Alibaba Group Holding Ltd (NYSE:BABA)

quarterly earnings december 22
unusual options activity december 22
Data courtesy of Trade-Alert

Commodities:

Oil prices were buoyed by the strong economic data out of the U.S. February-dated crude oil futures closed the session up 46 cents, or 0.9%, at $52.95 per barrel. 

A weakening dollar failed to lift gold prices, as the yellow metal extended its losing streak to three days. Gold dated for February delivery dropped $2.50, or 0.2%, to end at $1,130.70 per ounce. 

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