Dow Jones Industrial Average Ends Wobbly Session Lower; Tech Stocks Stay Hot

2 Tech Stocks Flashing 'Buy'

May 16, 2017 at 4:25 PM
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The Dow Jones Industrial Average (DJIA) jumped out of the gate thanks to strong earnings from Home Depot, but uncertainty surrounding President Donald Trump's release of allegedly classified information to Russia halted stocks' momentum. This also weighed on the U.S. dollar, helping gold futures grab a fifth straight win. Still, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) grabbed record highs once again, and the Nasdaq ended the day in the black, as tech stocks continued to outperform.  

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

  • 2 tech stocks flashing "buy." 
  • Call buying is nearing extreme levels on Facebook stock
  • The "positive catalyst" that could lift this healthcare stock tomorrow. 
  • Plus, a brokerage stock to avoid; inside Etsy's huge day; and options traders take on Cisco earnings. 

The Dow Jones Industrial Average (DJIA - 20,979.75) closed down 2.2 points, or 0.01%, with half of its 30 components closing in the black. While Home Depot had a strong showing, it was Microsoft that had the best day, adding 2%. At the bottom was UnitedHealth, losing 2%. 

The S&P 500 Index (SPX - 2,400.67) shed 1.7 point, or 0.1%, after tapping an all-time best of 2,405.77. The Nasdaq Composite (COMP - 6,169.87), though, managed a 20.2-point, or 0.3%, advance, for another record close. 

The CBOE Volatility Index (VIX - 10.65) moved up 0.2 point, or 2.2%. 

Closing Indexes Summary May 16
NYSE and Nasdaq Stats May 16


5 Items on Our Radar Today:
  1. Reports are circulating that hackers have stolen the upcoming Pirates of the Caribbean installment from Disney and are threatening to release it in pieces unless they are paid. The movie, "Pirates of the Caribbean: Dead Men Tell No Tales," is set to hit theaters May 25. (The Guardian)
  2. Speaking of hackers, cybersecurity experts have reason to believe the culprit for this weekend's massive cyber attack, known as "WannaCry," may be out of North Korea. Symantec and Google both found evidence possibly connecting the rogue state. (Bloomberg)
  3. More headwinds could be in store for this brokerage stock
  4. Why ETSY stock skyrocketed today. 
  5. How options traders are gearing up for Cisco earnings

Corporate Earnings May 16
Unusual Options Activity May 16
Data courtesy of Trade-Alert

Commodities

Despite an early rise, oil prices closed lower today, as traders await tomorrow's update on domestic crude inventories. In addition, the International Energy Agency (IEA) said extended production cuts from the Organization of the Petroleum Countries (OPEC) may not help curb the global crude glut all that much. June-dated crude futures settled down 19 cents, or 0.4%, at $48.66 per barrel.  

Gold prices rose today, marking a fifth straight day of gains, amid a cooling dollar and appetite for perceived safe havens. Gold set for June delivery ended the day up $6.40, or 0.5%, at $1,236.40 per barrel. 


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