Dow Jones Industrial Average Hits Record High in Short Session; Nasdaq Sits Out the Rally

2 Airline Stocks to Buy Right Now

Patrick Martin

Managing Editor

Jul 3, 2017 at 1:24 PM

The Dow Jones Industrial Average (DJIA) surged to start the month and quarter, building to a record high amid solid performances from the energy and bank sectors. The S&P 500 Index (SPX) joined in on the fun, as traders eyed rising oil prices, upbeat manufacturing data, and the latest monthly auto sales. However, the Nasdaq Composite (COMP) sat out the rally during today's holiday-shortened session, as tech stocks underperformed.

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

The blue-chip buyout rumors swirling today.
2 airline stocks to buy right now.
The worst ETF to own over the next 6 months.
Plus, high hopes for Alibaba; option pricing breakdown; and a great day for 2 auto stocks.

The Dow Jones Industrial Average (DJIA - 21,479.27) added 129.6 points, or 0.6%, notching an all-time high of 21,562.75 in intraday trading. Only 10 of the 30 Dow stocks finished lower, paced by Microsoft stock's 1.2% loss. Goldman Sachs was the top advancer, gaining 2.4%.

The S&P 500 Index (SPX - 2,429.01) added 5.6 points, or 0.2%. The Nasdaq Composite (COMP - 6,110.06) lost 30.4 points, or 0.5%.

The CBOE Volatility Index (VIX - 11.22) added 0.04 point, or 0.4%.

closing indexes summary july 3
nyse and nasdaq stats july 3-

5 Items on Our Radar Today:

Microsoft is rumored to be prepping to lay off thousands of its employees around the globe, as reported by TechCrunch. Last week, the Puget Sound Business Journal said the tech titan will unveil a large reorganization effort on Wednesday, July 5. (CNBC)
The Institute for Supply Management (ISM) national index of factory activity rose to its highest level since August 2014 in May. However, the Commerce Department said U.S. construction spending remained unchanged, missing forecasts for a 0.3% rise. (Reuters)
Analysts predict a 43% rally for Alibaba stock.
A refresher on options pricing.
2 auto stocks boosted by solid sales projections.

There were no earnings reports of note.

Unusual Options Activity July 3
Data courtesy of Trade-Alert

Commodities

Oil prices are on pace for their eighth straight win, which would mark their longest streak in seven years. At last check, August-dated crude futures were up 75 cents or 1.6%, at $46.79 per barrel.

Gold fell today to a seven-week low, as the U.S. dollar rebounded and the price for U.S. bond yields rose. August-dated gold futures were last seen down $20.40, or 1.6%, at $1,222 an ounce.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.