The DJIA has advanced in 10 consecutive sessions
The Dow Jones Industrial Average (DJIA) extended its streak of record closing highs to 10 consecutive sessions -- a milestone not seen since 1987. Not all stocks advanced, however, as the Nasdaq Composite (COMP) slipped on weakness in the tech sector -- the index's first back-to-back loss of 2017. While Wall Street was focused on Fed minutes yesterday, investors today turned their attention to jobless claims data, as well as tax reform remarks by new Treasury Secretary Steve Mnuchin.
Continue reading for more on today's market, including:
- Analyst: Sell NVIDIA Corporation (NASDAQ:NVDA) shares, buy Intel Corporation (NASDAQ:INTC).
- How to ride a stock rally with limited risk.
- Options traders targeted calls on this rumored takeover target.
- Plus... Bears attack AMD, 5 must-watch ETFs, and Tesla dubbed "undervalued."
The Dow Jones Industrial Average (DJIA - 20,810.32) hit an all-time high of 20,840.70, while keeping its aforementioned hot streak alive, adding 34.7 points, or 0.2%. Eighteen of 30 Dow stocks advanced, paced by a 1.8% gain at Johnson & Johnson (NYSE:JNJ). Caterpillar Inc. (NYSE:CAT) was the worst off among 12 blue-chip losers, shedding 2.7%.
The S&P 500 Index (SPX - 2,363.81) touched a record peak of 2,368.26, before ending on a slim 1-point win. The Nasdaq Composite (COMP - 5,835.51) lagged, giving back 25.1 points, or 0.4%.
The CBOE Volatility Index (VIX - 11.71) failed to close north of its 50-day moving average for the fifth straight session, losing 0.03 point, or 0.3%.
5 Items on Our Radar Today
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Former House Speaker John Boehner predicted that the GOP will not be able to repeal and replace the Affordable Care Act (ACA). More likely, he said, Republicans are "going to
fix Obamacare."
(Politico)
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Norwegian Air announced 10 new routes between the U.S. and Europe, with one-way
tickets starting at $65. The transatlantic routes will fly out of smaller airports in the Northeast, to destinations in the U.K. and Ireland.
(Reuters)
- Option bears bombarded high-flying Advanced Micro Devices, Inc. (NASDAQ:AMD).
-
Why these 5
ETFs should be on your radar.
- Is Tesla Inc (NASDAQ:TSLA) "undervalued"? One analyst thinks so.
Data courtesy of Trade-Alert
Commodities
Oil advanced out of the gate and hung on for a solid gain, after the Energy Information Administration (EIA) reported a smaller-than-expected increase in crude inventories. It was the seventh straight weekly build for liquid gold. At the close, April-dated crude futures were up 86 cents, or 1.6%, at $54.45 per barrel -- the highest close since July 2015.
Gold snapped a three-day losing streak and hit a three-month high, after yesterday's Fed minutes weighed the U.S. dollar. Specifically, April-dated gold futures tacked on $18.10, or 1.5%, to land at $1,251.40 per ounce -- their loftiest settlement price since Nov. 10.
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