Stocks Enjoy Best Day in Months; Dow Jones Industrial Average Surges

Best and Worst Ways to Trade SPY Each Week

Managing Editor
Jun 28, 2017 at 4:29 PM
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The Dow Jones Industrial Average (DJIA) rebounded in a big way today, and the S&P 500 Index (SPX) enjoyed its biggest one-day percentage gain since late April. The rally was spearheaded by bank stocks, which surged ahead of stress test results and after hawkish comments from European Central Bank (ECB) President Mario Draghi were widely construed as overblown. Tech stocks also recovered from yesterday's drubbing, helping the Nasdaq Composite (COMP) to its best day since November, while oil prices rode to a fifth straight win. 

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

  • Founder and CEO Bernie Schaeffer breaks down the best and worst ways to trade SPY options each week.
  • How XLF call buyers dropped millions.
  • Steer clear of Akamai Technologies stock this summer.
  • Plus, a tech sector 'buy' signal; earnings beats for 3 stocks; and analyst upgrades for an Apple supplier  

The Dow Jones Industrial Average (DJIA - 21,454.61) added 144 points, or 0.7%. Only five of the 30 Dow stocks ended lower, with Johnson & Johnson bringing up the rear, dropping 0.9%. Caterpillar stock was the top advancer, gaining 2.4%, while Verizon stock finished flat.

The S&P 500 Index (SPX - 2,440.69) added 21 points, or 0.9%. The Nasdaq Composite (COMP - 6,234.41) tacked on 87.8 points, or 1.4%.

The CBOE Volatility Index (VIX - 10.03) fell 1.03 points, or 9.3%.

Closing Summary Indexes June 28
NYSE and Nasdaq Chart June 28

5 Items on Our Radar Today:
  1. U.S. Homeland Security unveiled new security measures pertaining to flights arriving in the United States from foreign countries. The new security protocols represent an attempt to avoid a ban on laptops and other electronic devices. The lack of a laptop restriction helped lift airline stocks. (Reuters)
  2. Netflix announced today it will begin to roll out surround sound technology in its feature films. Dolby Atmos' immersive experience technology is currently only supported by Microsoft's Xbox, but support for OLED TVs is reportedly coming soon. (MarketWatch)
  3. The 'buy' signal blaring for Nasdaq-100.
  4. Solid earnings boosted these 3 stocks.
  5. An analyst upgrade lifted this Apple supplier

Corporate Earnings June 28
Unusual Options Activity June 28
Data courtesy of Trade-Alert

Commodities

Oil finished higher today, up for its fifth straight session, again aided by a large decline in U.S. crude production last week. In addition, the Energy Information Administration (EIA) said domestic gasoline inventories fell by more than expected. August-dated crude futures rose 50 cents, or 1.1%, to settle at $44.74 per barrel. 

Gold ended higher today, as the dollar continued to weaken. However, a strong broad-market performance capped gold’s rise. August-dated gold futures rose $2.20, or 0.2%, to settle at $1,249.10 an ounce. 


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