The DJIA spent time on both sides of breakeven today
The Dow Jones Industrial Average (DJIA) ended a wishy-washy session with a modest loss, after spending time on both sides of breakeven. Wal-Mart stock pulled the blue-chip index into the red, as a nosedive from Abercrombie & Fitch stock weighed on retailers. However, both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) managed a daily win, as tech stocks extended their recent rebound and markets look toward the start of earnings season.
Continue reading for more on today's market, including:
- How Amazon traders are playing Prime Day.
- The energy ETF at a "hesitation point."
- Options volume popped as the SPDR S&P Retail ETF (XRT) took a dip.
- Plus, Paypal's big day, 3 red-hot chip stocks, and a primer on short interest.
The Dow Jones Industrial Average (DJIA - 21,408.52) slipped 5.8 points, or 0.03%. Fourteen of the Dow's 30 stocks ended in positive territory, led by a 1.3% gain for Amazon partner Nike. Wal-Mart paced the Dow laggards, losing 2.8%.
The S&P 500 Index (SPX - 2,427.43) gained 2.3 points, or 0.1%. The Nasdaq Composite (COMP - 6,176.39) added 23.3 points, or 0.4%.
The CBOE Volatility Index (VIX - 11.11) shed 0.1 point, or 0.1%.
5 Items on Our Radar Today:
- Google parent Alphabet is gearing up for its battle against the European Union (EU), according to sources that say the FAANG member has enlisted five top law firms in Brussels. The EU hit Google with a record $2.7 billion fine recently. (Reuters)
- Donald Trump Jr. and the president's son-in-law, Jared Kushner, reportedly met with Russian lawyer Natalia Veselnitskaya during the 2016 presidential campaign, in an effort to get information on Hillary Clinton. Congressional intelligence committees have called for interviews with Trump Jr., who tweeted that he'd be "happy to work with the committee to pass on what I know." (CNBC)
- The catalyst behind Paypal stock's record high.
- 3 chip stocks stocks that jumped on upbeat analyst attention.
- A breakdown of short interest.
There are no earnings to report today.
Data courtesy of Trade-Alert
Commodities
Oil gained ever so slightly today, amid reports that Libya and Nigeria could have their production capped earlier than the Organization of the Petroleum Exporting Countries' (OPEC) formal talks later this year. August-dated crude futures climbed 17 cents, or 0.4%, to settle at $44.40 per barrel.
Gold rebounded today from its lowest point in four months. August-dated gold futures added $3.50, or 0.3%, to settle at $1,213.20 an ounce.