Schaeffer's Top Stock Picks for '25

Dow Jones Industrial Average Stumbles Yet Again

The Best and Worst of 2016; Plus, 3 Stocks at Critical Levels

Dec 29, 2016 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) struggled for gains once again, giving up an early morning lead and moving even further from the 20,000 level. The Nasdaq Composite (COMP) and S&P 500 Index (SPX) followed the Dow's bearish lead, with stocks limping into the last trading day of 2016. While investors had a round of economic data to digest -- including an unexpected rise in weekly crude inventories, which pressured oil prices -- trading volumes again remained light. As such, the Dow looks set to snap its historic weekly win streak
 
Continue reading for more on today's market, including:
 

The Dow Jones Industrial Average (DJIA - 19,819.78) dipped 13.9 points, or 0.1%, closing lower for the second straight day. Still, 19 of 30 Dow components ended higher, led by Verizon Communications Inc's. (NYSE:VZ) 0.6% gain. Goldman Sachs Group Inc (NYSE:GS) fell 1% to pace the losers. 

The S&P 500 Index (SPX - 2,249.26) lost 0.7 point, or 0.03%, while the Nasdaq Composite (COMP - 5,432.09) shed 6.5 points, or 0.1%.

The CBOE Volatility Index (VIX - 13.37) picked up 0.4 point, or 3.2%. 

Indexes closing summary December 29
NYSE and Nasdaq December 29

5 Items on Our Radar Today

  1. The United States has ordered 35 Russian diplomats to leave the country within three days, and President Obama announced sanctions against the Russian individuals and groups believed to have interfered with the presidential election. A Kremlin spokesman said the sanctions destroy diplomatic relations between the two countries. (Reuters and CNBC)
  2. In lighter news, Amazon.com, Inc. (NASDAQ:AMZN) has received a patent for what it's calling an "airborne fulfillment center." The flying warehouse would act as a mobile launch pad for drones to deliver items. (CNBC)
  3. 3 gold stocks that made big moves today
  4. The news that may have TASER International, Inc. (NASDAQ:TASR) short sellers worried. 
  5. Why we're trading Boeing Co (NYSE:BA) this week

Unusual options activity December 29
Data courtesy of Trade-Alert

Commodities:

A surprise increase in domestic crude inventories snapped oil's four-day win streak. By the close, February-dated crude futures were down 29 cents, or 0.5%, at $53.77 per barrel. 

Gold, on the other hand, managed a positive close for the fourth straight day. Gold dated for February delivery added $16.80, or 1.5%, to end at $1,157.70 per ounce. 

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