Dow Jones Industrial Average Pulled Lower By Disney

This Chip Stock Could Be the Next NVIDIA

May 10, 2017 at 4:30 PM
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The Dow Jones Industrial Average (DJIA) struggled today, pulled lower by Disney stock, despite a huge day for oil prices. Specifically, a dramatic drop in domestic crude inventories had crude futures and energy stocks rallying, helping the S&P 500 Index (SPX) finish in positive territory. The Nasdaq Composite (COMP) also outperformed, tapping a new record closing high, thanks to impressive earnings from the tech sector. Of course, traders continued to consider the implications of FBI Director James Comey's controversial firing, as well as the historically low VIX

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

  • 2 stocks that sold off after earnings
  • The chip stock that could follow NVIDIA higher. 
  • Why this low-dollar drug stock soared more than 20%.  
  • Plus, analysts are bullish on this travel stock; Wall Street reacts to EA's huge beat; and options bulls are blitzing this Russian ETF. 

The Dow Jones Industrial Average (DJIA - 20,943.11) ended down 32.7 points, or 0.2%. Sixteen of 30 Dow components actually managed gains, led by Chevron's 1.4% jump, but a 2.5% decline in Disney and a 1.2% drop in Boeing was enough to sink the blue-chip index. 

The S&P 500 Index (SPX - 2,399.63) climbed 2.7 points, or 0.1%. The Nasdaq Composite (COMP - 6,129.14) picked up 8.6 points, or 0.1%. 

The CBOE Volatility Index (VIX - 10.21) ticked back into double-digit territory with a 0.3-point, or 2.5%, advance. 

closing indexes summary may 10
nyse_nasdaq market stats may 10


5 Items on Our Radar Today:
  1. The Senate today failed to overturn an Obama-era limit on methane emissions. Industry groups claim the rule is too strict and companies are doing enough on their own to limit emissions, but the provision failed with a 49-51 vote. (Reuters)
  2. Apple has acquired Beddit, a Finland-based company that makes sleep-tracking technology. The company's most recent product goes under your bedsheet and tracks your movement every night. (The Verge)
  3. Analyst: Don't give up on Priceline stock
  4. How analysts reacted to Electronic Arts' huge earnings beat. 
  5. Call volume is rising on this Russian ETF

Corporate Earnings May 10
Unusual Options Activity May 10
Data courtesy of Trade-Alert

Commodities

Oil prices got a major boost today, thanks to a much larger-than-expected drop in weekly crude inventories. By the close, June-dated crude futures were up $1.45, or 3.2%, at $47.33 per barrel. 

June-dated gold futures got a bump today. The contract closed the day up $2.80, or 0.2%, at $1,218.90 per ounce. 

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