Dow Jones Industrial Average Makes It Four Losses In a Row

Analyst: Amazon Bulls are Ignoring Risks

Jan 18, 2017 at 4:23 PM
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The Dow Jones Industrial Average (DJIA) fell to its intraday low out of the gate amid muted earnings reactions for several bank stocks. And while the Dow managed to pare these losses as the trading day wore on, it still closed down for a fourth straight session. In focus was the Federal Reserve, with Fed Chair Janet Yellen noting that the U.S. economy is nearing the growth goals set by the central bank -- following this morning's impressive inflation data. Echoing this was the Fed's Beige Book, which showed "pricing pressures intensified somewhat" near the end of 2016. Not all of the day's price action was to the downside, though, with the S&P 500 Index (SPX) and Nasdaq Composite (COMP) settling in positive territory.
 
Continue reading for more on today's market, including:
 

The Dow Jones Industrial Average (DJIA - 19,804.72) slid 22.1 points, or 0.1%, with UnitedHealth Group Inc (NYSE:UNH) tracking 16 of the 30 blue chips lower on a 1.8% drop. American Express Company (NYSE:AXP) led the gainers, adding 1.2%.

The S&P 500 Index (SPX - 2,271.89) added 4 points, or 0.2%, while the Nasdaq Composite (COMP - 5,555.53) tacked on 16.8 points, or 0.3%.

The CBOE Volatility Index (VIX - 12.48) climbed 0.6 point, or 5.1%.

indexes closing summary jan 18
nyse and nasdaq stats jan 18

5 Items on Our Radar Today

  1. Oracle Corporation's (NYSE:ORCL) Oracle America Inc division is being sued by the U.S. Labor Department for discrimination in its hiring and salary practices. An investigation began in 2014, and the department reports that Oracle did not comply in providing information about employee pay. (Reuters)
  2. After being hospitalized this past weekend for breathing troubles, former U.S. President George H.W. Bush was taken to an intensive care unit (ICU) today, with "an acute respirator problem stemming from pneumonia." As a precaution, former First Lady Barbara Bush was also hospitalized. The couple announced earlier this month they would not attend this week's inauguration. (The Associated Press via CNBC)
  3. Upbeat earnings failed to boost this big-cap bank stock.
  4. 2 drug stocks that made huge moves.
  5. Why we're trading Stericycle Inc (NASDAQ:SRCL).

quarterly earnings jan 18
unusual options activity jan 18
Data courtesy of Trade-Alert

Commodities:

Crude oil slipped today as U.S. shale production showed signs of ramping up. February-dated crude gave up $1.40, or 2.7%, to close at $51.08 per barrel. On the upside, data from the Organization of the Petroleum Exporting Countries (OPEC) showed a decline in global stockpiles.

Strong inflation data helped the U.S. dollar gain today, which in turn weighed on gold prices. Gold futures for February ended the day down 80 cents at $1,212.10 an ounce.

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