Energy Stocks Keep Dow Jones Industrial Average Momentum In Check

2 Social Stocks Blitzed By Bulls Before Earnings

Feb 7, 2017 at 4:22 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) touched a record high this morning, but a down day for energy stocks kept the index's gains in check. Meanwhile, the Nasdaq Composite (COMP) also notched a new high, while the S&P 500 Index (SPX) ran out of steam just before touching its own all-time peak. Along with a handful of earnings reports, traders also digested this morning's trade deficit data, and the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Elsewhere, Philadelphia Fed President Patrick Harker said a March rate hike was possible, while Minneapolis Fed President Neil Kashkari published a blog post in favor of a less aggressive approach.
Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJIA 20,090.29) ended the day higher, up 37.4 points, or 0.2%, after peaking at 20,155.35 intraday. Boeing Co (NYSE:BA) was the leader of the 18 Dow winners, adding 1.5%, while the 12 Dow losers were led by Chevron Corporation (NYSE:CVX), which dropped 1.4%.

The S&P 500 Index (SPX - 2,293.08) finished the day fractionally higher, tacking on 0.5 point. Meanwhile, the Nasdaq Composite (COMP - 5,674.22) notched a new all-time high of 5,689.59, and jumped 10.7 points, or 0.2%, by the close.

The CBOE Volatility Index (VIX - 11.29) fell 0.1 point, or 0.7%.

Indexes closing summary February 7
NYSE and NASDAQ stats February 7

5 Items on Our Radar Today

  1. Betsy DeVos was confirmed as the Education secretary, after Vice President Mike Pence cast a tie-breaking vote following a 50-50 tie in the U.S. Senate. Pence is now the first vice president to ever cast a tie-breaking vote for a cabinet confirmation. (NPR)
  2. Under Armour Inc (NYSE:UAA) CEO Kevin Plank cautioned critics against betting against the retailer, citing its 21-year track record, and drawing a parallel between UAA's recent earnings stumble and Tom Brady's Super Bowl win. (CNBC)
  3. video game stocks that could move this week.
  4. How this surging bank stock could be headed for even more gains.
  5. The banned U.S. company that had short sellers celebrating.

Quarterly Earnings February 7
Unusual Options Activity February 7
Data courtesy of Trade-Alert


March-dated crude futures slipped 84 cents, or 1.6%, to close at $52.17 per barrel -- a three-week low -- amid a stronger U.S. dollar and concerns about oversupply and waning demand.

April-dated gold futures added $4, or 0.3%, to finish at $1,236.10 per ounce, as traders sought the "safe haven" for the fourth straight day.

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


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners