New Closing Highs for S&P, Nasdaq; Dow Jones Industrial Average Snaps Losing Streak

Watch This ETF Ahead of More Retail Earnings

May 15, 2017 at 4:27 PM
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The Dow Jones Industrial Average (DJIA) snapped its losing streak in a big way today, touching the round 21,000 mark at its session high. Stocks benefited from a sharp rise in oil prices, after Saudi Arabia and Russia announced support for extended oil-supply cuts. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) both closed at record highs, with the latter index -- and tech stock FireEye -- enjoying an extra lift from the "WannaCry" cyberattack. For tomorrow, much of the attention will likely be on Dow component Home Depot, as the retailer is scheduled to report earnings before the open. 

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

  • The ETF to watch ahead of more retail earnings.
  • Analyst: 3 reasons to expect record highs from Starbucks stock.  
  • How options bulls are lining up for Alibaba earnings.  
  • Plus, SNAP stock rebounds; Morgan Stanley hits Tesla; and options bulls blasted this cybersecurity stock. 

The Dow Jones Industrial Average (DJIA - 20,981.94) was higher from start to finish, closing up 85.3 points, or 0.4%. Twenty-one of the 30 Dow components closed with gains, with Johnson & Johnson's 2.7% rise leading the way. Verizon stock was the biggest loser, down 1%. 

The S&P 500 Index (SPX - 2,402.32) enjoyed a 11.4-point, or 0.5%, win, notching a new intraday peak of 2,404.50 before settling at a record closing high. The same is true for the Nasdaq Composite (COMP - 6,149.67), which settled up 28.4 points, or 0.5%, after hitting an all-time best of 6,153.04. 

The CBOE Volatility Index (VIX - 10.42) moved higher, despite stocks' gains, finishing up 0.02 point, or 0.2%. 

Closing Indexes Summary May 15
NYSE and Nasdaq Stats May 15


5 Items on Our Radar Today:
  1. Alphabet's Waymo and ride-booking company Lyft have announced they'll work together to develop self-driving cars. The details of the deal were not announced, but it could be a big move for both companies in their battles with Uber. (USA Today)
  2. Budweiser parent Anheuser Busch has announced it will invest $2 billion in its U.S. business. The move is expected to help the company expand its presence on the craft beer stage, as well as outside of the beer market. (Bloomberg)
  3. The hedge fund news that had SNAP stock roaring back. 
  4. Why Morgan Stanley has turned cautious on Tesla stock
  5. The bullish options trades on this cybersecurity stock.

Corporate Earnings May 15
Unusual Options Activity May 15
Data courtesy of Trade-Alert

Commodities

The deal between Russia and Saudi Arabia had June-dated crude futures up $1.01, or 2.1%, at $48.85 per barrel at the close -- the highest settlement in two weeks.  

Gold prices also managed to move higher today, following news of a mid- to long-range missile test out of North Korea. A cooling U.S. dollar also helped buoy the malleable metal. June-dated gold ended the day up $2.30, or 0.2%, at $1,230 per ounce. 


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