Robust Jobs Data, Tech Rebound Boost Dow Jones Industrial Average

This FAANG Stock Could Be Flashing 'Buy'

Jul 7, 2017 at 4:25 PM
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The Dow Jones Industrial Average (DJIA) recovered from an ugly outing yesterday, ending both the session and the week higher, after an encouraging June jobs report. In addition, a rebound in tech stocks helped to overshadow falling oil prices, helping both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) to daily and weekly wins.

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

  • This FAANG stock could be flashing "buy."
  • The cybersecurity stock that could make a big move next week, if past is prologue.
  • Analysts are loving Applied Materials stock.
  • Plus, the biotech stock that can't be stopped; bank stocks' big week ahead; and an interesting market signal.

The Dow Jones Industrial Average (DJIA - 21,414.34) tacked on 94.3 points, or 0.4%. For the week, the blue-chip index advanced 0.3%. Twenty-three of the Dow's 30 stocks ended in positive territory, led by a 2.1% gain for McDonald's stock. Goldman Sachs and General Electric paced the Dow laggards, losing 0.6% apiece.

The S&P 500 Index (SPX - 2,425.18) gained 15.4 points, or 0.6%. The Nasdaq Composite (COMP - 6,153.08) bounced back 63.6 points, or 1%. For the week, the SPX and COMP gained 0.1% and 0.2%, respectively.

The CBOE Volatility Index (VIX - 11.19) gave back 1.4 points, or 10.8%, to fall back beneath its 200-day moving average. The VIX fell 0.7% for the week.

Closing Indexes Summary July 7
NYSE and Nasdaq July 7

5 Items on Our Radar Today:
  1. President Donald Trump and Russian President Vladimir Putin met for the first time today, as world leaders converged for the G-20 summit. Following the more than two-hour meeting -- which was supposed to last 30 minutes -- the duo announced a cease-fire agreement in Syria, and agreed not to interfere in each others' elections.  (USA Today)
  2. In a proxy statement from Whole Foods, it was revealed that the grocery chain was approached by six other firms before agreeing to be bought by Amazon. What's more, the $42-per-share bid wasn't the first from the e-tail giant. (CNBC)
  3. The biotech stock up more than 75% in less than two months.
  4. These bank stocks have a big week ahead.
  5. In case you missed it, the market signal that went off for just the second time since 1929.

Corporate Earnings Chart July 7
Unusual Options Activity July 7
Data courtesy of Trade-Alert

Commodities

Oil sunk today, as the weekly U.S. rig count increased to its highest point since April 2015. August-dated crude futures fell $1.29, or 2.8%, to settle at $44.23 per barrel. Oil fell for 3.9% for the week. It was its sixth loss in seven weeks.

Gold fell to a four-month low today, a victim of the rising dollar and encouraging economic reports. August-dated gold futures dropped $13.60, or 1.1%, to settle at $1,209.70 an ounce. For the week, gold fell 2.6% -- a fifth straight weekly loss.

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