Dow Jones Industrial Average Logs Best Stretch of Record Closes Since 1987

3 Biotech Stocks Making Violent Moves

Feb 22, 2017 at 4:25 PM
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The Dow Jones Industrial Average (DJIA) spanned both sides of breakeven, but eventually notched its ninth straight record closing high -- the longest stretch in three decades. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) weren't so fortunate, with both indexes ending in the red, as stocks faltered after the Fed's latest meeting minutes indicated "many" central bankers support a rate hike "fairly soon," if the economy continues to strengthen.

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

  • Should you "buy the dip" on these 6 stocks?
  • blue chips attracting upbeat analyst attention.
  • 3 biotech stocks that made violent moves.
  • Plus, an earnings preview on Herbalife, 2 restaurant stocks under analyst fire, and a bearish extreme on Kohl's.

The Dow Jones Industrial Average (DJIA 20,775.60) added 32.6 points, or 0.2%, after notching a new intraday high of 20,781.95. Of the 30 Dow components, 14 finished higher, led by DuPont (NYSE:DD), which gained 3.4% on buyout buzz, while UnitedHealth Group Inc (NYSE:UNH) finished flat. Of the 15 Dow losers, Intel Corporation (NASDAQ:INTC) dropped the most, losing 1.2%.

The S&P 500 Index (SPX - 2,362.82) dropped 2.6 points, or 0.1%, while the Nasdaq Composite (COMP - 5,860.63) also fell 0.1%, dropping 5.3 points.

The CBOE Volatility Index (VIX - 11.74) added 0.2 point, or 1.5%.

Indexes closing summary February 22
NYSE and NASDAQ stats February 22

5 Items on Our Radar Today

  1. Seven Earth-sized planets were discovered circling a star -- TRAPPIST-1 -- 40 light years away. NASA says some of the planets could have liquid water and life.  (Reuters)
  2. A $130 billion merger between Dow Chemical Co (NYSE:DOW) and DD is set to be approved by European Union antitrust regulators after minor changes were made to the deal, according to sources. (CNBC)
  3. How options traders are playing Herbalife Ltd. (NYSE:HLF) ahead of earnings.
  4. Why these 2 restaurant stocks were targeted by analysts.
  5. Options traders are nearing a bearish extreme on Kohl's Corporation (NYSE:KSS) ahead of earnings.

Quarterly Earnings February 22
Unusual Options Activity February 22
Data courtesy of Trade-Alert

Commodities

April-dated crude futures fell 74 cents, or 1.4%, to end the day at $53.59 per barrel. Fears of rising U.S. stockpiles and a stronger U.S. dollar weighed on oil prices.

April-dated gold futures shed $5.60, or 0.5%, to close at $1,233.30 per ounce. However, following the release of Fed meeting minutes, the precious metal rebounded, and was last seen 0.5% higher after hours.

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

 

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