Dow Jones Industrial Average Rises as Trump Takes the Oath of Office

The Booming Apple Supplier

Jan 20, 2017 at 12:04 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJIA) is rallying at midday, flirting with triple-digit territory, with all eyes on Donald Trump's inauguration. Trump is scheduled to deliver his inaugural address within the hour, and traders will be listening closely for any policy-related cues. Meanwhile, post-earnings rallies from Procter & Gamble Co (NYSE:PG) and International Business Machines Corp. (NYSE:IBM) continue to boost the Dow, though fellow blue-chip stock General Electric Company (NYSE:GE) is trading lower after earnings. Elsewhere, rising oil prices are also providing a lift, with February-dated crude futures last seen 2.3% higher at $52.57 per barrel. As such, the Dow looks set to snap its five-day losing streak, though the large-cap index remains lower on the week. 

Continue reading for more on today's market -- and don't miss:

Midday Market Stats Jan 20

Among the stocks with unusual options volume is supplement seller Herbalife Ltd. (NYSE:HLF), after the company's weak sales guidance has the shares sliding 1.4% to trade at $52.53. Nevertheless, calls are trading at two times the intraday norm, and the January 2017 52.50-strike call is most active. It's hard to say how traders are positioning themselves here, though, with the contracts set to expire at tonight's close. 

Apple Inc. (NASDAQ:AAPL) supplier Skyworks Solutions Inc (NASDAQ:SWKS) is outperforming on the Nasdaq today, after the company's impressive earnings report and guidance. The stock was last seen 12% higher at $87.84, after earlier touching an annual high of $88.90. Today's bull gap has SWKS set to close above its 100-week moving average -- a long-time level of resistance -- for the first time since April 2016. 

Weekly Chart of SWKS

One of the biggest losers on the Nasdaq is transportation stock CSX Corporation (NASDAQ:CSX), as the shares give back some of yesterday's monster gains. The stock was last seen 4.4% lower at $43.52, with a downgrade to "hold" from "buy" at Deutsche Bank also weighing. 

The CBOE Volatility Index (VIX) is down 0.8 point, or 6.9%, at 12.03. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.64, with puts outpacing calls. The SPY was last seen 1 point, or 0.5%, higher at $226.93. 

Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.