Dow Jones Industrial Average Extends Historic Win Streak

The Dow Data Suggesting A Sour Start to 2017

Dec 23, 2016 at 4:28 PM
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The Dow Jones Industrial Average (DJIA) failed to make a meaningful move in another eerily quiet session, dragging the hunt for the closely watched 20,000 level into the long holiday weekend. While there was little movement from stocks, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) both managed modest wins, thanks in part to promising consumer sentiment data. And even with the "Trump rally" losing steam ahead of Christmas, the Dow managed to grab a seventh straight weekly win -- the longest such streak in two years. 
 
Continue reading for more on today's market, including:
 

The Dow Jones Industrial Average (DJIA - 19,933.81) managed a 14.9-point, or 0.1%, win to avoid a three-day losing streak. UnitedHealth Group Inc (NYSE:UNH) led the 17 Dow winners with a 0.9% gain. Meanwhile, Travelers Companies Inc (NYSE:TRV) was flat for the day, with McDonald's Corporation (NYSE:MCD) and Microsoft Corporation (NASDAQ:MSFT) rounding out the bottom of the list with losses of 0.5% apiece. The Dow added 0.5% for the week. 

The S&P 500 Index (SPX - 2,263.79) gained 2.8 points, or 0.2%, bringing its weekly lead to 0.2%. The Nasdaq Composite (COMP - 5,462.69) closed with a 15.3-point, or 0.3%, win, putting its weekly advance at 0.5%. 

The CBOE Volatility Index (VIX - 11.44) squeaked by with a 0.01-point, or 0.1%, advance. The VIX finished the week down 6.2%, for its lowest weekly close since August. 

indexes closing summary december 23
nyse nasdaq stats December 23

5 Items on Our Radar Today

  1. While President-elect Donald Trump was calling out certain defense stocks on Twitter, he also shared a letter sent to him by Russian President Vladimir Putin. The letter called for Russia and the United States to form a "constructive" relationship, with Mr. Trump deeming it a "very nice letter." (USA Today)
  2. The FBI is reportedly investigating a cyber hack into the Federal Deposite Insurance Corporation (FDIC). The hack, which dates back to 2010, may have come from China's military, FDIC employees believe. (Reuters)
  3. How options traders responded to the threat of a historic Twitter Inc (NYSE:TWTR) losing streak
  4. The potential takeover target in the biotech space, according to analysts. 
  5. Options education: Trading and hedging with LEAPS

Quarterly earnings December 23
Unusual options activity December 23
Data courtesy of Trade-Alert

Commodities:

Oil prices overcame early losses to notch fresh annual highs, even after data showing an eighth straight weekly rise in active oil rigs. Specifically, February-dated crude futures added 7 cents, or 0.1%, to close at $53.02 per barrel. Oil gained 2.2% for the week, comparing most active contracts. 

Gold prices saw a modest lift, but still finished lower for a seventh straight week -- the malleable metal's longest losing streak in more than a decade. By the close, gold dated for February delivery was up $2.90, or 0.3%, at $1,133.60 per ounce. The precious metal recorded a weekly loss of 0.3%. 

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