Trump Comments Boost Dow Jones Industrial Average to Record Highs

Tesla Stock Could Have Gas In the Tank

Feb 9, 2017 at 4:23 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) soared triple-digits and snagged a new all-time high -- along with the S&P 500 Index (SPX) and Nasdaq Composite (COMP) -- as traders reacted to comments from U.S. President Donald Trump, who promised to release a "phenomenal" tax announcement within the next "two or three weeks." Further boosting stocks was a surprise dip in weekly jobless claims, as well as dovish comments from St. Louis Fed President James Bullard. Later, Chicago Fed President Charles Evans spoke in favor of gradual rate increases. 

Continue reading for more on today's market, including: 

  • Behind this Dow stock's red-hot options volume.
  • The cloud stock blitzed by option bulls.
  • Why soaring Tesla Inc (NASDAQ:TSLA) could have gas in the tank.
  • Plus, an $850 sale in jeopardy, the stock that Trump couldn't save, and the recycling stock that's more than tripled in 12 months.

The Dow Jones Industrial Average (DJIA 20,172.40) notched a new all-time high of 20,206.36 in intraday trading, gaining 118.1 points, or 0.6%. Nike Inc (NYSE:NKE) tacked on 2.7% to lead the 26 Dow leaders, while Intel Corporation (NASDAQ:INTC) led the four Dow losers, dropping 2.5%.

The S&P 500 Index (SPX - 2,307.87) also notched a new all-time high of 2,311.08, adding 13.2 points, or 0.6%, by the bell. The Nasdaq Composite (COMP - 5,715.18) rounded out the triple with its own all-time best of 5,722.70, gaining 32.7 points for the day, or 0.6%.

The CBOE Volatility Index (VIX - 10.88) fell 0.6 point, or 5%.

Indexes closing summary February 9
NYSE and NASDAQ stats February 9

5 Items on Our Radar Today

  1. A federal judge quashed Anthem Inc's (NYSE:ANTM) proposed buyout of rival CIGNA Corporation (NYSE:CI), a deal worth $48 billion. The judge ruled that the merger would reduce competition in the insurance market, though ANTM reportedly plans to file an appeal on the ruling. (USA Today)
  2. Sears Holdings Corp (NASDAQ:SHLD) settled a lawsuit that alleged CEO Eddie Lampert benefited from a deal to sell 235 of the best retail locations to Seritage Growth Properties (NYSE:SRG), which is also controlled by Lampert. The $40 million settlement will be paid to Sears. (Reuters)
  3. Why this $850 million sale could be stopped in its tracks.
  4. Turns out Trump couldn't save Twitter Inc (NYSE:TWTR).
  5. The new partnership helping this recycling expert extend its 240% year-over-year lead.

Quarterly Earnings February 9
Unusual Options Activity February 9
Data courtesy of Trade-Alert

Commodities

March-dated crude futures rose 66 cents, or 1.3%, to finish at $53 per barrel, thanks to a surprise drop in gasoline stockpiles. However, renewed strength in the dollar kept crude's gains in check.

April-dated gold futures slipped to $1,236.80 per ounce, down $2.70, or 0.2% -- snapping the yellow metal's five-day winning streak. Traders turned away from the safe haven commodity as President Trump promised a forthcoming tax announcement.

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

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI