Dow Jones Industrial Average Jumps 186 Points as Bank Stocks Soar

18 Stocks to Watch if the Patriots Lose

Feb 3, 2017 at 4:25 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) jumped triple digits, with this morning's better-than-expected jobs data providing an early boost to stocks. A post-earnings rally for Visa Inc (NYSE:V) shares and President Donald Trump's executive orders aimed at diluting regulations on the banking industry -- which sparked a fire under financial stocks -- also served as a positive catalyst, bringing Dow 20,000 back in play. Elsewhere, a negative earnings reaction for e-tail giant, Inc. (NASDAQ:AMZN) did little to slow the S&P 500 Index (SPX) and Nasdaq Composite (COMP), with both stock market benchmarks climbing higher.
Continue reading for more on today's market, including:

  • 18 stocks to watch if the Patriots lose the Super Bowl.
  • Trump's threats aren't scaring options traders away from this Mexican ETF.
  • Why it may be time to buy calls on these 2 finance stocks.
  • Plus, making the bullish case for Zillow, the cybersecurity stock that soared, and why we didn't trade Fifth Third.

The Dow Jones Industrial Average (DJIA 20,071.46) gained 186.6 points, or 0.9%, for the day. Of the 25 Dow winners, Visa led the way, gaining 4.6%, while Nike Inc (NYSE:NKE) brought up the rear among the five decliners, dropping 0.8%. For the week, though, the Dow slipped 0.1%.

The S&P 500 Index (SPX - 2,297.42) finished the day up 16.6 points, or 0.7%. Week-over-week, the SPX added 0.1%. The Nasdaq Composite (COMP - 5,666.77) rose 30.6 points, or 0.5%, for a weekly gain of 0.1%.

The CBOE Volatility Index (VIX - 10.97) fell 1 point, or 8.1%, paring its weekly gain to 3.7%.

Indexes closing summary February 3
NYSE and NASDAQ stats February 3

5 Items on Our Radar Today

  1. Lockheed Martin Corporation (NYSE:LMT) has agreed to produce 90 F-35 jets for the Pentagon in a deal valued at $8.5 billion -- the lowest price on record for the government program. LMT gave credit to President Trump, who publicly criticized the cost of the aircrafts. (Reuters)
  2. Dollar General Corp. (NYSE:DG) said it will open 1,000 new locations and a pair of distribution centers in 2017 -- creating about 10,000 new jobs, or a 9% increase in its current workforce. (USA Today)
  3. Bullish options traders may be overlooking uptrending Zillow Group, Inc. (NASDAQ:ZG).
  4. 4 reasons we didn't trade Fifth Third Bancorp (NASDAQ:FITB).
  5. The cybersecurity stock that soared 14% after earnings.

Quarterly Earnings February 3
Unusual Options Activity February 3
Data courtesy of Trade-Alert


March-dated crude futures rose 29 cents, or 0.5%, to settle at $53.83 per barrel, as traders digested a third straight weekly rise in domestic rig counts, as well as newly imposed sanctions on Iran. For the week, oil prices added 1.2%.

April-dated gold futures gained $1.40, or 0.1%, to end the week at $1,220.80 per barrel. Gold was boosted by a falling greenback, which stumbled in the wake of this morning's nonfarm payrolls report. For the week, the precious metal gained 2.7% -- its biggest weekly advance since June.

Get your daily dose of Dow futures, stock news, and more with Schaeffer's Opening View.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners