Dow Jones Industrial Average Nabs Seventh Straight Quarterly Win

5 Dow Stocks To Buy Calls On

Managing Editor
Jun 30, 2017 at 4:32 PM
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The Dow Jones Industrial Average (DJIA) ended the week on a high note, after Nike stock popped on a strong earnings report and an Amazon deal. The surging retail stock also boosted the S&P 500 Index (SPX), while the Nasdaq Composite (COMP) swung higher to end the session with a win. And while all three major stock indexes closed the week with a loss, the Dow and SPX nabbed a seventh straight quarterly win, while the COMP brought its quarterly win streak to four. On the flip side, oil logged its biggest first-half drop since 1998, even after closing higher for a seventh consecutive session.

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

  • Time to buy calls on these 5 sizzling Dow stocks.
  • Options traders eye a big bounce for Costco stock ahead of a historically bullish stretch.
  • A stakeholder shake-up sent this food stock soaring.
  • Plus, Blue Apron's rough start; Activision could be ready to bounce; and a bold biotech bet.

The Dow Jones Industrial Average (DJIA - 21,349.63) added 62.6 points, or 0.3%. Only nine of the 30 Dow stocks finished lower, paced by Goldman Sachs stock's 1.1% loss. Nike was the top advancer, gaining 11%. For the week, the Dow dropped 0.2%, but gained 1.6% for the month. It added 3.3% for the quarter.

The S&P 500 Index (SPX - 2,423.41) added 3.7 points, or 0.2%. It lost 0.6% for the week, but gained 0.5% for the month and 2.6% for the quarter. The Nasdaq Composite (COMP - 6,140.42) lost 3.9 points, or 0.06%. It finished the week down 2%, the month down 0.9%, but the quarter up 3.9%. 

The CBOE Volatility Index (VIX - 11.18) shed 0.3 point, or  2.2%. For the week, the market's "fear gauge" surged 11.6%, and 7.4% on the month. For the quarter, though, VIX slumped 9.6%.

Closing Summary Index June 30
NYSE and Nasdaq Chart June 30

5 Items on Our Radar Today:
  1. This coming Fourth of July holiday will see a record number of motorists on the road, as reported by the American Automobile Association (AAA). AAA projects 37.5 million people will drive 50 miles or more during the weekend. The rise is aided by low gasoline prices and a strengthening economy. (Reuters)
  2. Consumer sentiment fell to 95.1 in June -- a seven-month low -- although the results exceeded the economists' expectations. Nevertheless, first-half consumer sentiment levels are at their highest point since the second half of 2000. (CNBC)
  3. Blue Apron closed below its $10 IPO price today in what's been a rough start for the shares.
  4. Activision stock could heat up in the summer months, following a pullback to its historically significant 40-day trendline.
  5. One options trader bet on this biotech ETF to rally to new highs by year's end.

Corporate Earnings Chart June 30
Unusual Options Activity June 30
Data courtesy of Trade-Alert

Commodities

Oil rose today -- bringing its win streak to seven -- after the U.S. rig count declined for the first time since January. August-dated crude futures rose $1.11, or 2.5%, to settle at $46.04 per barrel. Black gold gained 7% for the week, but closed 4.7% lower for the month. For the quarter and half, oil shed 9% and 14.3%, respectively.

Gold ended lower today, as traders risk-on appetite lowered demand for the metal. August-dated gold futures fell $3.50, or 0.3%, to settle at $1,242.30 an ounce. Gold lost 1.1% for the week and 2.6% for the month. The malleable metal closed the quarter down 0.7%, but gained roughly 7.9% in the first half.

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