Dow Jones Industrial Average Deflates; Nasdaq Ekes Out a Win

$1.6M Bet on China; Plus, Solar Stocks Explode

Managing Editor
Jun 22, 2017 at 4:27 PM
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The Dow Jones Industrial Average (DJIA) spent most of the session higher, boosted by stabilizing oil prices and rallying healthcare stocks. The sector got a jolt from the Senate, as Republicans released a draft of the healthcare bill designed to repeal and replace Obamacare. The Senate is expected to vote on the bill as early as next week. However, the Dow lost steam in the final minutes of trading, eventually suffering a third straight loss. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) also deflated heading into the close, with only the latter finishing in the black. 

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

  • Breaking down the $1.6 million bet on Chinese stocks.
  • Behind the solar stock explosion.
  • Analyst: This retailer should sell assets to Amazon.
  • Plus, 3 healthcare stocks headed for new highs; Netflix stock's next big move; and what the market can expect next week.

The Dow Jones Industrial Average (DJIA - 21,397.29) lost 12.7 points, or 0.1%. Seventeen of the 30 Dow stocks ended lower, with Goldman Sachs stock bringing up the rear, dropping 1.2%. Johnson & Johnson and Merck stocks were the top advancers, gaining roughly 0.9% each. It was the third straight day Merck finished in the top two.

The S&P 500 Index (SPX - 2,434.50) fell 1.1 points, or 0.1%. The Nasdaq Composite (COMP - 6,236.69) maintained a gain of 3 points, or 0.04%, for a third straight win. 

The CBOE Volatility Index (VIX - 10.48) fell 0.3 point, or 2.5%.

Closing Indexes Summary June 22

NYSE and Nasdaq stats June 22

5 Items on Our Radar Today:
  1. Foxconn, one of the biggest contract electronics makers and an Apple supplier, announced plans to invest over $10 billion in a display-making factory in the U.S. The firm operates many factories in China, where it makes Apple’s iPhone. (Reuters)
  2. Tesla Inc announced today that it has begun exploratory talks with the Shanghai government over building its cars in China. Separately, the Elon-Musk led company is reportedly in talks with music labels about creating its own streaming music service. (Reuters; Re/code)
  3. 3 scorching healthcare stocks that could rally next week.
  4. Check out this bullish signal for Netflix stock.
  5. Get ready for window dressing next week.

Corporate Earnings June 22
Unusual Options Activity June 22
Data courtesy of Trade-Alert

Commodities

Oil bounced back for a slight gain today, following its lowest close in 10 months yesterday. August-dated crude futures climbed 21 cents, or 0.5%, to settle at $42.74 per barrel. 

Gold gained for the second straight day today. By the close, August-dated gold futures rose $3.60, or 0.3%, to settle at $1,249.40 an ounce. 



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